CBRE from CBRE is pleased to offer to the market 34–36 Kenny Street, Wollongong (South Coast) NSW, a premium freehold medical investment leased to PRP Diagnostic Imaging, for sale via Investment Portfolio Auction 179.

The property has the following key investment highlights:

+ 18 year net lease to 2028 with one (1) further five (5) year option to 2033
+ Leased to PRP Diagnostic Imaging: leading diagnostic imaging provider with 32 locations and growing, servicing 1 million+ patients annually, owned by IFM Investors & UniSuper with a combined $381 billion¹ Assets Under Management
+ Premium two-level 721sqm* medical imaging facility on a strategic 1,603sqm* CBD freehold site with high underlying land value
+ Significant future upside and development potential with a 60m* permitted building height limit and 1.5:1 FSR (STCA)
+ High-quality tenant funded MRI and radiology fit-out, reflecting substantial tenant capital investment
+ Landlord friendly net lease structure with tenant paying all outgoings as per lease, including council rates, insurance, repairs & maintenance, management fees and multi-holding land tax
+ Secure rental income growth with annual reviews to the greater of CPI or 4%
+ Secure on-site parking for 26 cars*
+ Ideally positioned within Wollongong CBD, only 700m* from Wollongong Train Station and adjoining Wollongong Public & Private Hospitals
+ Located in the Illawarra’s largest healthcare precinct, supported by significant infrastructure and population growth, with Wollongong’s population forecast to increase 30.61% to 291,797 by 2046 with a GRP of $15.74 billion²
+ Wollongong is located approximately 80km* south of Sydney CBD with excellent transport connectivity and a growing defence, education, and health industry base
+ Net Income: $420,226 pa* + GST

To be sold individually via Investment Portfolio Auction 10:30am (AEST) Wednesday 17 September 2025, Yallamundi Rooms, Sydney Opera House

Also available as part of the ‘PRP Medical Imaging Portfolio’

+ PRP Denistone (Sydney), NSW
+ PRP Maitland (Newcastle), NSW
+ PRP Tuggerah (Central Coast), NSW

Please contact the exclusively appointed sales team for more information.

*Approximate
1 IFM & Unisuper
2 profile.id