Melbourne-based property investment manager Collective Capital Investments has acquired Mickleham Medical, a purpose-built healthcare and wellness facility in Melbourne’s northern growth corridor, for $17,000,000.
Located at 9–33 Errol Boulevard, Mickleham, the super-clinic style asset occupies an 8,705sqm landholding and generates a passing annual income of $1,226,671. The newly constructed facility, developed by Spargo Group, is fully strata titled.
Nicholas Thompson and Dale O’Dwyer, Directors of Collective Capital Investments, said the acquisition reflects the group’s strategy of targeting assets where resilient income is supported by identifiable value creation opportunities.
“What attracted us to Mickleham was the combination of strong healthcare demand fundamentals and the pricing opportunity embedded within the asset.”
“While the property was acquired on a whole-of-asset basis, analysis of the individual strata components indicates a materially higher underlying value, providing us with flexibility in how we actively manage the investment over time while benefiting from the long-term growth of Melbourne’s northern corridor,” Mr Thompson said.
“Our approach is always to acquire assets where we can combine resilient income with a clear value-creation strategy, and Mickleham is a strong example of that philosophy in practice,” Mr O’Dwyer added.
The facility is anchored by established operators including Medical Select, Belgravia Health and Leisure Group and Northside Imaging, alongside complementary uses spanning general practice, radiology, swim school, gymnasium and office accommodation. The diversified tenancy mix underpins resilient income while servicing one of Victoria’s fastest expanding residential catchments.
Mickleham forms part of one of Melbourne’s most prominent northern growth corridors. According to the Australian Bureau of Statistics, the suburb’s population increased from 3,142 residents in 2016 to 17,452 in 2021, representing growth of approximately 455% over five years. *
Located 32 kilometres north of Melbourne’s CBD, the suburb continues to experience substantial residential development and infrastructure investment, reinforcing long-term demand for healthcare and social infrastructure across the region.
The property was sold following a national Expressions of Interest campaign managed by Jones Real Estate’s Luke Peric, Paul Jones, and Vincent Lam in conjunction with CBRE’s Sandro Peluso, Marcello Caspani-Muto, and Jimmy Tat.
Luke Peric, Associate Director at Jones Real Estate, said the campaign attracted strong interest from private capital groups, syndicators and established healthcare investors across the country.
“This asset resonated with a broad range of investors as it combined defensive healthcare income with meaningful scale and long-term flexibility,” Mr Peric said.
Paul Jones, Managing Director of Jones Real Estate, said the property’s configuration created a compelling investment opportunity.
“The substantial landholding, together with the strata configuration, introduced a level of optionality rarely seen in healthcare assets of this size. That flexibility broadened the buyer universe beyond traditional
healthcare investors, expanding the capital pool and reinforcing competitive tension throughout the campaign,” Mr Jones said.
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