A significant freestanding super-medical centre in the heart of Mandurah’s healthcare precinct has been listed for sale through CBRE’s National Healthcare Team.
Murray Medical Centre at 34-36 Minilya Parkway, Greenfields is a highly strategic and valuable central land holding of 6,295sqm within the City of Mandurah.
It is situated 50 metres from Peel Health Campus, a 260 bed hospital, and directly opposite a brand-new Genesis Cancer Centre. The property offers high exposure and is easily accessible, being only minutes from the Kwinana Freeway.
CBRE’s National Healthcare and Social Infrastructure Team is bringing the property to the market, with price expectations of $15 million plus.
CBRE’s Josh Twelftree said the property is underpinned by the tenant which has been servicing the local community for over 20 years.
“The property has a current WALE of 4.7 years. Seven longstanding medical tenancies occupy the building, with services including general practice, cardiology, radiology, allied health, gynecology, pathology, specialist consulting rooms and a large retail pharmacy,” Mr Twelftree said.
“Given the price point, we expect the property to primarily appeal to high net worth private investors and institutional funds that invest in the healthcare sector.”
CBRE's Director – Healthcare & Social Infrastructure, Sandro Peluso said that healthcare buyers are considering all parts of Australia for opportunities.
“Once buyers have comfort in the sector, we find they are repeat buying regardless of state," Mr Peluso said.
“The key to their investment decisions are based on the size of the land holding, how experienced and long standing the tenant is, the local demand for medical services and if the property is part of a health hub surrounded by complementary health services.
“There is also a lack of opportunities circa $15m+, which is why assets are hotly contested when they are brought to the market nationally. We currently have property fund clients that have over-subscribed capital and they must buy to appease investors.”
About CBRE Group, Inc.
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.
