This article is from the Australian Property Journal archive
MORE than $20 million is expected for the fully leased Cranbourne Health super clinic in Melbourne’s south-east growth corridor.
Touted as the “most substantial healthcare offering in over four years”, the 4,137 sqm centre at 2 Woodbine Street property returns $1.3 million and is expected to attract high-net-worth private investors, private wealth management funds and A-REITs when marketing kicks off through CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat next month.
Opposite Bunnings and Woolworths in Cranbourne North, the site has triple street frontage to Thompsons Road, Plaistow Court and Woodbine Road.
Twelftree said medical centre investors either opt for smaller, convenience-based GPs and specialists, or a consolidation of specialists into super clinics.
“In more recent times, the latter appears to be more popular with investors – an emerging trend amongst industry experts, positioning the medical centre positively in the long-term.”
Peluso said that potential buyers would be looking at long-term development and repositioning prospects, given the site’s significant street exposure, surrounding amenity and the prediction that the City of Casey population would surpass Canberra’s within a few decades.
“With over 10% of the population aged between zero and four, Cranbourne’s substantial younger demographic will require greater GP and specialist services in coming years.”
The medical centre’s tenant offering includes Thompson Road Clinic, which has been operating in the area since 1987.
An expressions of interest campaign will begin in mid-July.
