NEWS PROPERTY

Well-lease medical centres are attracting investors. An owner-occupied coroner property at 374-378 Nepean Highway sold for $5.6 million on a yield of 3.2 per cent. The property leased to two national medical providers, Psoriasis Eczema Clinic Australia and CPAP Australia, CBRE’s Josh Twelfree, Scott Orchard, Sandro Peluso and Kinson Wong said.

A near-new office building leased to RMIT and the Royal District Nursing Service within developer MAB Corporation’s University Hill development in Melbourne’s north is on the market and expected to sell for circa $25 million. Andrew Dawkins, Chris Jones and Walter Occhiuto of Dawkins Occhiuto, and Tim Grant and Tom Ryan of Knight Frank are the selling agents.

Property NSW, on behalf of Family and Community Services, is selling a row of two-storey federation-style apartment blocks as part of the Millers Point sales program in Sydney’s The Rocks. 15-35 Dalgety Road are a mix of two and three-bedroom apartments. McGrath will handle the expressions of interest sale. Proceeds will fund new social housing dwellings.

Myamba Super has signed up homelessness and housing support service VincentCare Victoria for a sublease of the 2,029 sq m office building at 17-19 Lieber Grover, Carrum Downs, in Melbourne for two years. The net annual rent for the property is $70.65 per sq m, with no incentives. Colliers International’s Gordon Code negotiated the tenancy.

Medical supplies company Able Living group has agreed terms on a 1100 sq mm refurbished warehouse at 65-67 Sheehans Road, Heidelberg West in Melbourne to accommodate its expansion. Allard Shelton’s James Wagner brokered the deal at a net annual rent of $82,500 over four years.

Medical properties also proved popular in Western Australia after Lot 55, Marquis Street, Hammond Park sold to a private investor for $5.27 million on a 6.6. per cent yield. The new two-storey building is leased to a pharmacy dentist and a Medical Centre. Hammond Park is 24 kilometres south of the Perth CBD. Vend property’s Jeff Klopper handled the deal.

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.

Healthcare equipment specialist Country Care Group has expanded its operations to Melbourne after agreeing terms on a new 6500sq m office/warehouse at 10-12 Dreamhaven Court in Epping. The group, which operates in Mildura, has signed a three-year lease at a net annual rent of $55 a square metre. The off-market lease included multiple roller shutter doors, high clearances and hardstand areas. CBRE’s Daniel Eramo and Amanda Traficante brokered the lease.