2 Fully Leased Medical Suites to be Sold Together | Entry Level Medical Investment
Lot 2 & 3/88 Myers Street, Geelong VIC 3220
Auction 14/05/24
OfficeSize: n/a
Block size: 183 m² approx.
Burgess Rawson are pleased to offer to the market the Lot 2 & 3, 88 Myers Street Geelong VIC (St John of God Granada Medical Centre) for sale via Investment Auction Portfolio 168.
The property has the following investment highlights:
+ Five (5) year lease terms across both tenancies to 2025 & 2026 with options to 2030 and 2031.
+ Australian Clinical Labs Ltd: ASX Listed pathology business with over 1,430 sites nationally (1) and a market capitalisation of $498.53 million. (2)
+ Kiddies Eye Care: Established in 2014, Kiddies Eye Care now have two (2) locations across Victoria with five (5) optometrists. (3)
+ 2 prime ground floor retail medical suites within the St John of God Granada Medical Centre to be sold together
+ A mixture of fixed 3% compounding annual rent increases, and annual CPI rent reviews.
+ Investor friendly net lease, with tenants paying all usual outgoings.
+ Exceptional tenant funded fit outs.
+ Surrounded by important social infrastructure including St John of God Hospital, Deakin University & Barwon Health University Hospital.
+ Strong investment into major projects within the city of Greater Geelong with over 161 projects either proposed, recently completed, commenced or approved projects totalling $13.4 billion. (4)
+ Geelong: Booming growth location contributing to over $13.6 billion in annual economic output, total over 31% for the region. (5)
+ City of Greater Geelong: largest city in Victoria, outside Melbourne with a booming population expected to increase by 37% to 396,388 by 2041. (6)
+ Outlined in the Australia Government Health Budget for 2023/24, the healthcare market has seen an increase in capital highlighted by a $102.6 billion investment, representing 15% of the Australian Government's total Expenditure. (7)
+ Potential 50% stamp duty savings.
+ Entry level investment within tightly held Geelong CBD medical precinct.
+ Net Rent: $90,920 pa* + GST.
To be sold by Investment Portfolio Auction 168
10:30am AEST Tuesday 14 May 2024
River Room, Crown Casino, Melbourne
This property is being sold alongside one other investment within the same medical complex. Also Available:
Lot 24 Geelong Breast Clinic (Lake Imaging)
+ Lease Term: Seven (7) years to 2028
+ Estimated Net Income: $79,090 pa* + GST.
*Approximately
(1) Australian Clinical Labs
(2) ASX - 15/4/24
(3) Kiddies Eye Care
(4) City of Greater Geelong Data Exchange
(5) REMPLAN
(6) Forecast.id
(7) Parliament of Australia
The property has the following investment highlights:
+ Five (5) year lease terms across both tenancies to 2025 & 2026 with options to 2030 and 2031.
+ Australian Clinical Labs Ltd: ASX Listed pathology business with over 1,430 sites nationally (1) and a market capitalisation of $498.53 million. (2)
+ Kiddies Eye Care: Established in 2014, Kiddies Eye Care now have two (2) locations across Victoria with five (5) optometrists. (3)
+ 2 prime ground floor retail medical suites within the St John of God Granada Medical Centre to be sold together
+ A mixture of fixed 3% compounding annual rent increases, and annual CPI rent reviews.
+ Investor friendly net lease, with tenants paying all usual outgoings.
+ Exceptional tenant funded fit outs.
+ Surrounded by important social infrastructure including St John of God Hospital, Deakin University & Barwon Health University Hospital.
+ Strong investment into major projects within the city of Greater Geelong with over 161 projects either proposed, recently completed, commenced or approved projects totalling $13.4 billion. (4)
+ Geelong: Booming growth location contributing to over $13.6 billion in annual economic output, total over 31% for the region. (5)
+ City of Greater Geelong: largest city in Victoria, outside Melbourne with a booming population expected to increase by 37% to 396,388 by 2041. (6)
+ Outlined in the Australia Government Health Budget for 2023/24, the healthcare market has seen an increase in capital highlighted by a $102.6 billion investment, representing 15% of the Australian Government's total Expenditure. (7)
+ Potential 50% stamp duty savings.
+ Entry level investment within tightly held Geelong CBD medical precinct.
+ Net Rent: $90,920 pa* + GST.
To be sold by Investment Portfolio Auction 168
10:30am AEST Tuesday 14 May 2024
River Room, Crown Casino, Melbourne
This property is being sold alongside one other investment within the same medical complex. Also Available:
Lot 24 Geelong Breast Clinic (Lake Imaging)
+ Lease Term: Seven (7) years to 2028
+ Estimated Net Income: $79,090 pa* + GST.
*Approximately
(1) Australian Clinical Labs
(2) ASX - 15/4/24
(3) Kiddies Eye Care
(4) City of Greater Geelong Data Exchange
(5) REMPLAN
(6) Forecast.id
(7) Parliament of Australia
Inspections
No open inspections scheduled.
Send an enquiry
Contact Jamie Perlinger to learn more about this property, request an inspection or take an online tour.
Auction
Tuesday 14 May, 10:30am
Crown Casino - River Room - Melbourne
Key details
Property type:
Office
Block Size:
183 m²*
Other Details
Maps and area information
Block information
Block size: 183m² (approx)
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SummaryMedian sales
Average Age
41 years
Population
5,811
Listing ID: 182456571. This listing has been viewed 0 times. It was first displayed on 17/04/2024 and last updated on 18/04/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
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