This article is from the Australian Property Journal archive
A MEDICAL clinic in Wantirna has sold for $4.007 million at auction, 54% above reserve.
The 303 Mountain Highway property comprises a 605 sqm building with 23 car parks and sits on a 1,445sqm land holding.
CBRE’s Josh Twelftree, Sandro Peluso and Rorey James sold the property with vacant possession.
Peluso said the auction attracted five different bidders with over 70 bids in total with a number of medical groups, childcare and aged care providers looking at the opportunity.
“Our specific and tailored sales approach made for a highly competitive auction. The property hit the market at $2,600,000 which sparked some serious bidding between five groups. The property was eventually knocked down for $4,007,000, a staggering $1,407,000 above the reserve, with a local investor outbidding the medical fraternity,” Twelftree said.
Australian Property Journal
