This article is from the Australian Property Journal archive
MORE than $40 million is expected for the Greensborough Medical and Dental Centre in Melbourne’s north east, which was redeveloped for ASX-listed Healius in 2017.
The 9-13 Flintoff Street property is on a landbank site of 2,448 sqm 17 kilometres from the CBD, and with activity centre zoning that offers expansive development opportunities. Major healthcare company Healius’s lease amounts to a weighted average lease expiry of 9.0 years.
Greensborough Medical and Dental Centre was redeveloped seven years ago incorporates 3,529 sqm of building area together with 62 car bays.
Colliers’ Ian Sanders, Justin Hazell, Chris O’Driscoll, and Anna Cavar are handling the expressions of interest campaign, which closed Wednesday, 18th April.
They said the proposition offers investors a secure and passive cash flow with fixed annual increases, depreciation benefits, and long-term upside in the land which is zoned for intensive development.
Greensborough features a concentration of health care users alongside the Banyule City Council offices, the Watermark Aquatic Centre and sub-regional shopping centre Greensborough Plaza, Hazell noted.
He said, “Healthcare property activity has remained vibrant, driven by the weight of ageing demographics, associated medical complexity, and broader government investment and support for the healthcare sector”,
According to Invest Victoria, healthcare is Victoria’s largest employer, employing 12% of all Victorians and contributing over $36 billion to the Victorian economy.
