Cranbourne East Health Facility Sold

18 September 2021

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.”