Kempsey’s Largest Medical Centre Hits the Market
The largest medical centre in Kempsey has been listed for sale ahead of Burgess Rawson’s Flagship Sydney Portfolio Auction next month.
The 35 Belgrave Street asset is situated on Kempsey’s bustling main street 50km north of Port Macquarie, accompanied by the region’s primary grocery shops, banking facilities and retail outlets.
Home to a range of medical businesses including ASX-listed Healius & Sonic Healthcare and Tristar Medical, the fully leased site returns a combined rental income of $364,425 per annum plus GST.
Four of the seven leased areas have been home to the same tenants for over 30 years, with the building extensively renovated in 2015.
According to Burgess Rawson’s Sydney Director, Dean Venturato, the property has attracted attention from buyers looking to capitalise on its location, strong customer base and reputable tenants.
“The dominant centre in Kempsey is packed with essential service tenants including a widely renowned GP surgery clinic and pathology facilitated by state-of-the-art imaging,” Mr Venturato said.
“In a year like 2020, cashed up Aussies have been drawn to resilient investment opportunities in the commercial property market and this asset ticks all of those the boxes.
“The 1,366 sqm land pocket comes with 29 on-site car spaces too, and when you pair that with steady regional population growth and tenant leases secured to at least 2026, you have unquestionable potential.”
Mr Venturato added they are expecting a sale figure of circa $5 million reflecting an approximate net return of over seven per cent per annum.
Burgess Rawson will be selling the Mid North Coast asset under the hammer at its Flagship Portfolio Auction from 11am AEDT on Tuesday 8th December, at Sydney Opera House’s prized Yallumundi Rooms.
For more information on this property or other current listings, please contact Dean Venturato 0412 840 222. Alternatively, Michael Vanstone can be contacted on 0403 580 528