Manningham Medical Centre set to change hands

Manningham Medical Centre, east Melbourne’s most popular healthcare hub, is set to sell for circa $50 million.

Located at 200 High Street, Templestowe Lower, the medical centre was completed in the early 2000s and has since undergone refurbishment with tenancy expansions and new fit outs.

The 5,000sqm, six-storey centre, has a WALE of 6.3 years and a gross passing income of $3,390,227 from a mix of anchor tenancies including a general practice, Nexus Day Hospitals, Sonic Healthcare and Capital Radiology.

CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Marcello Caspani-Muto and Jimmy Tat are managing the sale via an international Expressions of Interest campaign closing October 19, 2023.

“The Manningham Medical Centre is one of the most trafficked healthcare assets in the country on a comparative square metre basis and this listing represents the highest quality healthcare offering within Victoria for several years,” Mr Peluso said.

“This is a rarity in a market where many medical clinics are struggling to source an adequate number of doctors.”

Mr Caspani-Muto added, “The underlying demographics of the area are key to the building's current and long-term success. The city of Manningham features a median income well above the Victorian average.

“The centre is also easily accessible from all eastern suburban locations, from Doncaster to South Yarra. This is what will continue to drive strong levels of occupancy and tenant renewals in combination with the high-quality nature of the centre’s existing improvements.”