Dr Shapero is selling his 26 year old two-level property at 2 Woodbine Road, Cranbourne. The 1400sq m Cranbourne Health clinic is fully leased and returns $1.3 million a year. It’s on a 4137sq m site on a corner site and is expected to sell for more than $20 million. Expressions of interest for the major landholding closes in mid-August. CBRE’s medical team, including Mr Peluso, Josh Twelftree and Jimmy Tat are handling enquiries. Mr Twelftree said there are two types of investors in medical centres – those who go for smaller convenience-based GPs and others who prefer super-clinics with their concentration of specialists. Medical centres are very attractive to investors. Last week, Fitzroys sold a 1336sq m medical clinic at 789 Pascoe Vale Road, Glenroy for $9.47 million on a 5.2 per cent yield.
