Cranbourne East Health Facility Sold

The sale of an identifiable two-storey community Medical Centre bundled with its business has been completed after a competitive expressions of interest campaign.

Located at 14 Broad Oak Drive, Cranbourne East, the two-storey medical centre came with 14 onsite car parks and a permit for four full time practitioners. The subject property is strategically positioned adjacent to a renowned retirement village and within walking distance to a major suburb shopping centre. Spread across multiple levels the property features GP, dental, pathology and allied health services – catering to a substantial community catchment.

The opportunity which was presented by CBRE’s Australian Healthcare & Social Infrastructure team of Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat who witnessed the successful transaction of both the property and business for $2.97m.

Jimmy Tat said “The business is very well established within the area though there remains room for even further growth which is why a premium multiple was paid. The building itself14 onsite parking and has a two storey structure. It’s located in the corner of Board Oak Road with sufficient exposure to the traffic passing by.

The property itself is only a few years old and present incredibly rare – meaning minimal to no work is required by the incoming purchaser and the real estate itself will make for a good investment within their portfolio.

Sandro Peluso said “Healthcare related property has been widely recognised as a raising major asset class, particularly within the past two years. With increasing focus now concentrating on this sector, its stable and resilient character with long-term return has been proved again with numbers of sold properties. To address this, there is no surprise that we see this property sold with its bundled business as a combined investment opportunity for our investors.”

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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