Healthcare property activity continues to thrive as investment opportunities arise

Greensborough Medical & Dental Centre has been brought to market exclusively by Colliers. It is expected to attract offers in excess of $40 million.

Colliers’ team composed of Ian Sanders, Head of Transaction Services Healthcare & Retirement Living, Justin Hazell and Chris O’Driscoll, National Directors of Transaction Services Healthcare & Retirement Living, and Anna Cavar, Director of Capital Markets have been exclusively appointed to sell the asset.

9-13 Flintoff Street represents a securely leased medical centre investment on a significant landbank of 2,448 sqm of Activity Centre-zoned land providing a myriad of future development opportunities. The property is leased to one of Australia’s leading healthcare companies, Healius Limited, with a WALE of 9.0 years.

Greensborough Medical and Dental Centre was redeveloped in 2017 for the current tenant and incorporates 3,529 sqm of building area together with 62 car bays. It is located in the heart of a modern mixed-used precinct within Greensborough, only 17km northeast of the Melbourne CBD.

The proposition offers investors a secure and passive cash flow with fixed annual increases, depreciation benefits, and long-term upside in the land which is zoned for intensive development.

“Greensborough features a concentration of health care users alongside the Banyule City Council offices, the Watermark Aquatic Centre and Greensborough Plaza – a major sub-regional shopping centre,” said Justin Hazell, National Director.

“Healthcare property activity has remained vibrant, driven by the weight of ageing demographics, associated medical complexity, and broader government investment and support for the healthcare sector,” added Mr. Hazell.

Indeed, according to Invest Victoria, Healthcare is Victoria’s largest employer, employing 12% of all Victorians and contributing over A$36 billion to the Victorian economy.

9-13 Flintoff Street, Greensborough, is being offered for sale by Expressions of Interest closing Wednesday 18th of April 2024, at 3 pm (AEST).