North Melbourne orthopaedic investment trades for $5.25m

The site contains two buildings and nine car parks.

A healthcare investment near the Royal Children’s Hospital has traded for $5.25 million.

The 642 square metre site at 64 Chapman Street, North Melbourne, contains two clinics with a combined lettable area of 414 sqm, and nine car parks.

The asset earns annual net rent of $291,165 from Orthokids and VicOrtho; the latter, which occupies the property as its headquarters, has just renewed its lease six years.

Spaces are fit out with consulting rooms, a radiology centre and offices.

The address is about a kilometre from the Royal Women’s Hospital, Peter MacCallum Cancer Centre, Victorian Comprehensive Cancer Centre – and what will in a few of years be CSL’s base.

Gray Johnson’s Matt Hoath and Rory White closed an expressions of interest campaign for 64 Chapman St on December 3 (story continues below).

“Healthcare investments are firmly on the watch of property investors,” the former agent said.

“The recent COVID situation has shown the importance of responses to public and community health,” he added.

“On offer here was a prime inner-city investment opportunity with Chapman St being within two kms of the CBD.

“The sale result was in line with our expectation”.

The site is about two kilometres north west of the city.
The property is walking distance to Royal Children’s Hospital.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco