Barwon sells two Victorian medical centres
Barwon Property Funds Management has shed two regional Victorian medical centres held by the Healthcare Property Fund.
The priciest, 75-77 Roslyn Road, Belmont, in Geelong’s inner south, traded for $10.6 million – a 6.61 per cent yield.
Bupa is the occupier. Also exposed to the High Street shopping strip, the prominent property trades as Eastbrooke Family Clinic Belmont.
One of 29 Victoria urgent care clinics, open 7 days, it contains 1142 square metres.
The site spreads 1932 sqm, zoned Commercial 1, with 38 car parks.
JLL’ Simon Quinn, Mark Stafford and Thomas Thorsen were the agents.
Belmont is four kilometres from Geelong’s CBD.
Cowes Medical Centre
Meanwhile, Barwon banked $10.3m for the Cowes Medical Centre, covering 164-166 Thompson Avenue and 3 Grandview Grove, on Phillip Island.
With 1269 sqm, it returns annual rent of $700,464 (continues below).
The buyer is a private family office.
Barwon paid $8.8m in 2018.
JLL was again the marketing agency.
It also recently sold three Queensland healthcare assets including the Icon Cancer Centre in Chermside to Quanta, for$14.5m.
Centuria was that seller.
Dexus also shed Clayfield’s College Junction after five years.
Westbridge was that buyer, for $30m.
Another asset, in Townsville, collected c$17m.
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