Medical centre beside hospital for sale, Melbourne
A sprawling medical centre sharing part of a roofline with Macquarie Health’s Melbourne Eastern Private Hospital, is for sale.
Also with 82 car parks, the Boronia asset, 157 Scoresby Road, collects $1.06 million per annum.
Completed 15 years ago, with 2262 square metres, there are 12 tenancies.
Vision Eye Institute, Capital Radiology and Clinical Labs are amongst the occupiers.
The site spreads 2596 sqm.
The abutting Eastern Private Hospital covers 9544 sqm.
Predictable income stream: agents
The Scoresby Rd asset is leased to 14 groups.
“Almost all tenants have been here since the building opened and from an investment perspective, that’s gold,” CBRE’s Marcello Caspani-Muto, who is marketing the property with Jimmy Tat and Sandro Peluso, said.
“It translates into a strong, predictable income stream,” he added.
“And because the majority of that income is linked to national anchor operators, the asset has both diversification and big name anchors that are well respected in the market,” according to the executive.
“The entire ownership group and development has been predominantly driven by doctors and designed for doctors so it’s no surprise the medical centre is such an embedded success within the local community”.
The listing comes three years since a Knox Private Hospital backed medical centre with 28 car parks in nearby Wantirna sold.
In 2021 meanwhile, Charter Hall bought the ex-GlaxoSmithKline headquarters at 1061 Mountain Highway, Boronia, to replace with a life sciences investment.
157 Scoresby Rd and Eastern Private (#153 Scoresby) replaced a much more modest medical centre – a conversion of a couple of brown brick dwellings.
The Eastern has 60 beds.
Boronia is about 29 kilometres east of Melbourne’s CBD.
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