Entry Level Medical Investment Leased to an ASX Listed Giant

Burgess Rawson are pleased to offer to the market the Lot 24, 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:
+ Seven (7) year lease term through to 2028 plus one (1) further five (5) option to 2033.
+ Geelong Breast Clinic (Lake Imaging): Owned by ASX listed Integral Diagnostics with a market cap of $554.5 million (1), who are a leading provider of diagnostic radiology and medical imaging throughout Central and Western Victoria, operating 19 locations. (2)
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Investor friendly net lease, with tenants paying all usual outgoings including land tax.
+ Prime ground floor retail medical suites within the St John of God Granada Medical Centre.
+ 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. (3)
+ Geelong: Booming growth location contributing to over $13.6 billion in annual economic output, total over 31% for the region. (4)
+ City of Greater Geelong: largest city in Victoria, outside Melbourne with a booming population expected to increase by 37% to 396,388 by 2041. (5)
+ 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. (6)
+ Entry level investment within tightly held Geelong CBD medical precinct.
+ Potential 50% stamp duty savings.
+ Net Rent: $79,090 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 2 & 3 – Australian Clinical Labs & Kiddies Eye Care
+ Lease Terms: Five (5) Years to 2025 & 2026
+ Estimated Net Income: $90,920 pa* + GST.

Bidder registration required, register here.

*Approximately
(1) ASX – 15/4/24
(2) Lake Imaging
(3) City of Greater Geelong Data Exchange
(4) REMPLAN
(5) Forecast.id
(6) Parliament of Australia