Fully leased to the largest gastroenterology and hepatology practices in Melbourne’s west, Dr Gastroenterology and Dr Scope, on two 10-year terms with further options, the day hospital attracted specialised interest from buyers – many of whom had missed out on CBRE’s previous day hospital offering in Cheltenham earlier this year.
Mr Twelftree noted that it was unusual for two day hospitals to hit the healthcare market in such quick succession.
“The recent Chesterville Day Hospital campaign generated strong interest from high-net-worth investors and national medical funds, highlighting a growing demand for premium hospital investments,” Mr Twelftree said.
The 2,130sqm site is activity centre zoned, features 21 car parks and is surrounded by a range of retail and lifestyle amenity, including Sunshine Plaza and Sunshine Marketplace.
“Upon further investigation into the planning scheme, it was determined the site has a potential future development height of 30m (STCA). Given this allowance and the future growth expected in the western corridor, there were some highly positive long-term prospects for the offering behind it’s secure income stream,” Mr Peluso added.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.