Site of a multi-disciplinary medical centre in Melbourne’s east set to hit the market

The site of Melbourne Eastern Healthcare Village, one of the leading medical facilities in the Melbourne suburb of Boronia, is poised to hit the market.

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

Located at 157 Scoresby Road, Melbourne Eastern Healthcare Village features multiple tenancies including Capital Radiology, Vision Eye Institute, Doctors Care Clinic (GP), Clinical Labs and more with the vast majority of providers having occupied space within the building since its opening in 2011.

The medical hub has a building area of near 2,262sqm with 82 car parks on site, and a passing income of close to $1.143 million per annum.

The property adjoins the Melbourne Eastern Private Hospital – a specialised 60-bed rehabilitation hospital operated by Macquarie Health Corporation.

Sandro Peluso said, “This is one of the most unique healthcare offerings the team have seen come to market across the country in some time. It really is the definition of a ‘healthcare village’, no matter what time of day you come the centre is operating at near capacity and the car park is very close to full. It’s the perfect example of the benefits investors receive in multi-tenanted healthcare real estate with all businesses driving traffic between one another.”

Marcello Caspani-Muto added, “Almost all tenants have been here since the building opened and from an investment perspective, that’s gold. It translates into a strong, predictable income stream, in this case annually, across 13 or so tenants. And because the majority of that income is linked to national anchor operators, the asset has both diversification and big-name anchors that are well respected in market. The entire ownership group and development has been predominantly driven by doctors and designed for doctors, so it’s no surprise the medical centre is such an embedded success within the local community.”

The property will be sold via an International Expressions of Interest campaign, closing in early November.