This article is from the Australian Property Journal archive
A PRIVATE syndicate paid $18.7 million for the Victoria House Medical Centre and Victoria Clinic in Prahran.
Colliers International directors Pat Burke and Peter Bremner sold the property at 314-324 Malvern Rd on behalf of Australian Unity.
Burke said the campaign generated an outstanding 90 enquiries and multiple bids from interested parties.
“The property was purchased by a private syndicate who intend to capitalise on a solid income over the short term, withplans to consider development in the future,” Bremner said. “The campaign highlighted the fact that well-located, inner city investments are still in demand and are being well supported by purchasers, along with their banks. Freehold, well-located properties delivering a solid income command the strongest interest, particularly from the private sector,”
The property sits on approximately 5,939 sqm of prime land and had an estimated total passing net income of $1.55 million per annum from the six tenants, including Healthscope, Radclin Medical Imaging and Victoria House Imaging.
Australian Property Journal
