Investor Confidence High as Colliers Transacts Watsonia Freehold Medical Asset

Fully leased Watsonia medical asset attracts strong competition buoyed by major infrastructure investment in Melbourne’s north-east.

A prominent Watsonia medical asset has changed hands after a highly competitive sales campaign, with significant interest registered from both domestic and international investors.

The fully leased, two-level medical facility at 77 Devonshire Road, Watsonia, comprising a substantial 615sqm corner landholding, was sold for $5,580,000 by Colliers agents Lucas Soccio, Alex Browne, and James Zhuang. The asset was acquired by a NSW-based investor, reflecting a sharp 5.79% yield.

Lucas Soccio, Executive at Colliers | Investment Services, said, “The sale reflects the continued demand for quality healthcare investments, particularly in growth corridors underpinned by significant infrastructure upgrades. Medical assets continue to be viewed as resilient, long-term investments by both private and institutional capital.”

“The level of enquiry we received throughout the campaign was exceptional,” Mr Soccio added. “With over 65 enquiries and multiple competitive offers, it’s clear that the market remains highly active for well-leased, recently refurbished assets with strong underlying fundamentals.”

Strategically located in the heart of Watsonia with direct access to Watsonia Train Station, the property is exceptionally positioned for future growth. The area is undergoing a major transformation as part of Victoria’s largest infrastructure project, the North East Link. With a new 6.5km tunnel entrance located nearby, the project is set to cut travel times to the CBD by up to 35 minutes and remove around 15,000 trucks from local roads each day.

Complemented by extensive upgrades to public transport, local roads, and green infrastructure including over 1,900 new trees and enhanced pedestrian and cycling links. Watsonia is quickly emerging as a key growth precinct and a strategic destination for long-term investment.