Neurosurgeon Professor Richard Bittar buys Doncaster East office

Renowned Australian neurosurgeon, spinal surgeon and researcher, Professor Richard Bittar, has outlaid $2.76 million on a prominent Doncaster East office he plans to occupy after a refurbishment.

The double-storey, 414 square metre property, 1094 Doncaster Road (pictured, top), half a block from the popular Tunstall Square retail centre, was auctioned last week.

On a 612 square metre Commercial 1 zoned site permissible for a six-storey mixed-use building, the site was expected to pique the interest of office and residential developers.

The office is walking distance to an establishing healthcare precinct – accommodating the Donvale Rehabilitation Hospital, Bupa Aged Care and TLC The Heights retired people community.

As such, healthcare developers were also on the radar of the marketing agents, CBRE’s Sandro Peluso, David Minty and Chao Zhang.

Doncaster East is about 22 kilometres north east of the Melbourne CBD, the next suburb east of Doncaster, which is considered an Activity Centre in state planning strategies.

This particular Doncaster Road site is at the eastern edge of the suburb, bordering Donvale, about a kilometre from Blackburn South, Nunawading and Mitcham.

In May, 2017 – a booming time in Melbourne’s commercial property market (and four months away from what was the peak) – Prof Bittar sold a small three-level medical centre investment at 73 Kooyong Road, Caulfield North (pictured, bottom), for $4.8 million – coincidentally, via Mr Peluso.

This sale price was a 20 per cent premium on what the medical specialist paid 15 months earlier.

Professor Richard Bittar sold 73 Kooyong Road, Caulfield North, for $4.8 million in 2017 – a 20 per cent premium on the price he paid 15 months earlier.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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