Circa 7.25% Yield | Day Hospital & Medical Centre | One of Australia’s Most Resilient Asset Classes
26A & 26B Dickens Street, Elwood VIC
Property Highlights
Description
Burgess Rawson and JLL are delighted to present to market a long established freehold medical Investment at 26A & 26B Dickens Street, Elwood Victoria for sale via Investment Portfolio Auction 166.
This investment has the following key highlights:
+ St Kilda Day Hospital: new 5 year lease to 2028 + plus options to International not-for-profit MSI with 37 locations worldwide.
+ St Kilda South Medical Centre: general practice in occupation since 1986 with renewed 5 year lease to 2028 plus options
+ Two well maintained and presented medical buildings totalling 418sqm plus basement car parking for 7 cars
+ Prominent 822sqm* corner landholding with high underlying land value and 46 metre* frontage to Dickens Street.
+ Attractive landlord-favourable net lease structures with tenants paying all usual outgoings excluding land tax.
+ Certain income growth with built in rent increases.
+ Well located within close proximity of the Alfred Medical and Education Precinct
+ Medical Centre income underpinned by subleases including Sonic Health and Healius Pathology
+ Elwood: fashionable bayside suburb bordered by St Kilda, Brighton and Caulfield with a median house price of $2,200,000
+ Net Income: $441,089* + GST (as at April 2024)
To be sold by Portfolio Auction 166
10:30am AEDT Wednesday 21 February 2024
Crown Casino, Melbourne VIC
Property Details