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.

A Mornington medical practice property has sold for $3.7 million, which was 33 per cent above the reserve according to agency CBRE. A general practitioner nailed the fully-leased building at 93-95 Tanti Ave at auction.

Former aged care facility Hathaway Cottages in Oberon is going to auction. The council-owned property consists of 11 bedrooms (all with ensuites), two sitting rooms, two living rooms, staff rooms, kitchen and numerous storage areas.

Sandy Creek Orchard represents the opportunity to purchase 20ha (49 acres) of agribusiness development land on Tamborine Mountain. The property on Geissmann Street is made up of eight freehold titles. A new school and retirement village neighbour the parcel, which has six access points on three separate roads. The managed orchard enjoys a cooler climate with rich, red volcanic topsoils. The average annual rainfall is 1525mm, with subsurface streams for irrigation supported by a 13ha licence.

A huge 9.2ha block of land was bought by council 15 years ago and earmarked for sport and recreation. Now, it’s up for sale. Moreton Bay Regional Council listed the block of land at 159-181 Morris Rd, Rothwell for sale via tender. If sold, it could be home to a high density housing estate or a retirement village.

New Zealand’s Vital Healthcare has stepped up its expansion through Australia, snapping up Hirondelle Private Hospital, a rehabilitation facility in Sydney’s Chatswood for $23.5 million. The hospital and its operation were sold by a private owner and operator in one two-pronged deal, with Vital taking over the real estate and operator Healthe Care taking over the operational side. Recently refurbished, Hirondelle is a 53-bed private rehabilitation facility on Sydney’s lower north shore.

The Castle Fun Park site in Mandurah has gone on the market with a multi-storey retirement village one of the proposals for development.