This article is from the Australian Property Journal archive
AN inner Melbourne medical facility occupied by Healius subsidiary Lumus Imaging has sold under the hammer for $24 million, in one of the biggest commercial property auction sales in 2024 to date.
Located directly opposite the Epworth Hospital at 84-88 Bridge Road and 2 Verity Street in Richmond, the three-level building has 1,227 sqm of floor space and has a 20-year lease to 2035 plus options. The sale price represented a yield of 6.34%.
The facility has on-grade parking for 21 vehicles and is is on a 1,054 sqm corner site with commercial 1 zoning.
Lumus Imaging is a subsidiary of ASX-listed Healius Ltd with a market cap of $947 million, employing 10,500 people with 2,250 locations nationally.
The property sold through Burgess Rawson’s Zomart He, Beau Coulter, Raoul Holderhead and Yosh Mendis at the agency’s portfolio auction at Crown Casino yesterday.
Medical facilities were hot property at the event.
A purpose-built Ballarat allied health clinic sold for $3.21 million on a yield of 4.91%. Lake Health Group has a brand-new 10-year lease with options over the 507 sqm building, which has 12 consulting rooms and a rehabilitation gym, and is on 1,206 sqm of land.
A multi-level medical facility in Melbourne’s northern suburb of Lalor occupied by ASX-listed Sonic Healthcare sold for $3.06 million, at 7.69%. It has a renewed four-year lease plus an option to 2030.
Also selling was a new childcare centre in north-east Adelaide for $6.4 million. National operator Guardian Childcare has a brand-new 20-year lease with 10-year options and the sale price showed a yield of 5.74%.
Back in Melbourne, St Kilda’s Veludo bar sold for $3.14 million, at 5.77%. The Acland Street venue is leased to 2030 with three options of five years each.
The Melbourne event followed Sydney’s turn on Tuesday, where deputy chairman of AFL team GWS Giants, Adrian Fonesca sold a McDonald’s fast food restaurant in Newcastle for $5.53 million, on a low yield of 3.25%.
The restaurant is on part of a site of more than 3,000 sqm that Fonesca bought alongside Isaac Property Developments, and they developed the McDonald’s and a childcare centre on the site. The childcare centre is operated by Fonesca’s Oxanda Education and will be put up for sale at Burgess Rawson’s May portfolio auction.
