Fully leased medical investment a standout in Morphett Vale

16 May 2023

Underpinned by high-calibre tenants, including an affiliate of ASX-listed Sonic Healthcare, a Morphett Vale medical centre in a high exposure location is expected to draw keen buyer interest.

Located on the corners of Main South Road, O’Sullivan Beach Road and Tretter Street, the fully leased complex offers a NLA of 1,813 sqm amid the highly respected Southern Specialist Centre.

Situated approximately 26 kilometers south of the Adelaide CBD, the site houses four tenants – among them the Sonic Healthcare-owned Clinpath Pathology as well as Dr Jones & Partners medical imagery – offering a wide range of healthcare services and bringing in net annual income in excess of $450,000 with a WALE (weighted average lease expiry) of 4.1 years.

The dominant Main South Road frontage gives the site exposure to busy passing traffic (more than 23,000 vehicles a day), with adjoining properties helping to create a convenient medical precinct that also includes dental, chiropractic and physiotherapy services, all easily accessible via ample car parking.

The sale is being handled exclusively by JLL SA Sales Executives Claudia Brace and Simon Hilmgard

Considered “essential services” medical-based assets have a proven resilience in times of economic downturn noted Mrs Brace.

“It provides an opportunity to secure a passive investment in an established commercial hub which is supported by the strong catchment of more than 24,000 Morphett Vale residences” said Mr Hilmgard.

Expressions of Interest close Tuesday 30 May 2023 at 4pm (ACST).