Landmark healthcare asset in growth suburb hits the market

The opportunity to acquire a landmark healthcare asset in Mickleham, one of Victoria’s fastest-growing suburbs, is expected to generate significant interest from both domestic and international investors.

Located at 9–33 Errol Boulevard the property is being offered for sale via an International Expressions of Interest campaign, led by CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Jimmy Tat, and Marcello Caspani-Muto in conjunction with Tim Spargo and Paul Jones of Jones Real Estate.

Mickleham Health is a newly constructed, super-clinic style facility and offers a passing annual rental of $1,226,671 across a substantial landholding of 8,705sqm. The site is strategically positioned adjacent to key amenities including childcare centres and major retail hubs such as Botanical Village Shopping Centre and Merrifield City Shopping Mall.

The property features a diversified tenancy mix, anchored by leading operators such as Medical Select, Belgravia Health and Leisure Group, and Northside Imaging, among others. Its scale and quality are expected to appeal to traditional healthcare investors, as well as first-time buyers with exposure to retail or social infrastructure assets.

Sandro Peluso said, “Modern healthcare assets with diversified tenancy profiles and this level of quality are rare, particularly at a price point that appeals to private investors, institutional capital, and syndicates.

“Mickleham Health sits in a sweet spot that should drive strong competition. The improvements are high grade and the suburb’s growth trajectory is undeniable, it ticks all the boxes for long-term investment. While we’ve seen institutional-grade assets come to market recently, many have exceeded $35 million and, in some cases, lacked the quality seen here,” Mr Peluso added.

Jones Real Estate’s Tim Spargo said, “Positioned in the heart of the Merrifield Precinct, this asset is surrounded by a rapidly growing community that will accommodate tens of thousands of new homes and support more than 20,000 jobs. Anchoring the area’s wellbeing offering, Mickleham Health serves as the central healthcare hub for all residents, delivering a full suite of essential medical, allied health, and specialist services designed to meet the needs of a diverse and expanding population.”

Mickleham has rapidly emerged as one of Australia’s fastest-growing suburbs, with its population surging from just over 3,000 in 2016 to more than 17,000 by 2021 — representing a staggering 455% increase in just five years. This explosive growth is driven by significant residential development, infrastructure investment, and its strategic location just 32 kilometres north of Melbourne’s CBD. With continued expansion forecast over the coming decade, Mickleham is firmly positioned as a key growth corridor, making it an ideal location for long-term healthcare and social infrastructure investment.

The International Expressions of Interest Campaign closes November 6, 2025.