A local investor has splashed out $5.6 million for a beachside medical property in Frankston, Melbourne on a passing yield of 3.2 per cent. The 1281sq m building on a 3405sq m site at 374-378 Nepean Highway is leased to medical tenants Psoriasis Eczema Clinic Australia and CPAP. It is close to shops and the train station. CBRE’s Josh Twelftree, Scott Orchard, Sandro Peluso and Kinson Wong brokered the deal.
