Rosebud physiotherapy centre changes hands amid growing investor demand

A private local investor has acquired a purpose-built physiotherapy centre in Rosebud following strong buyer interest for the healthcare asset.

The sale of 42-44 Boneo Road was brokered by CBRE’s Australian Healthcare & Social Infrastructure team of Sandro Peluso, Jimmy Tat, and Kai Wang.

Situated on a 1,596sqm parcel of General Residential zoned land, the 655sqm centre is leased to a single tenant, Lifecare Physiotherapy, with a renewed five-year lease plus options to 2039.

Mr Peluso noted the property saw strong bidding, with four offers received from domestic and international investors.

“Most investors were drawn to the strong lease covenant of the property. The tenant, Lifecare Physiotherapy, has been supporting the local Peninsula community for over 28 years and has more than 40 locations and over 300 allied health professionals across the country,” Mr Peluso said.

“Surrounded by over 14,600 residents and an aging population, the physiotherapy and rehabilitation services provided by the centre are an important and ongoing requirement for the local community, further boosting investor confidence,” Mr Peluso added.

Mr Wang notes over the past three months, the team had seen growing investor confidence in the market.

“Many buyers feel the best time to buy is now, before any further rate cuts occur and buyer sentiment from foreign investors is also strong due to the stability of the Australian Economy,” Mr Wang said.

“With over $12 million of unallocated capital, our team is now working with a number of investors actively looking for their next healthcare opportunity,” Mr Wang added.