Hong Kong Investor Snaps Up $5m Melbourne Property as Healthcare Boom Continues

 Hong Kong Investor Snaps Up $5m Melbourne Property as Healthcare Boom Continues

A Hong Kong-based investor has purchased a medical site 25 kilometres east of Melbourne’s CBD for $5 million, in the latest show of strength in the growing healthcare sector.

Urban Growth Zoning, at 169-171 Stud Road in Wantirna, is comprised of two buildings with five current healthcare tenants including physiotherapist, dentist and rehabilitation services.

Providing a passing income of $220,000 per annum, the 1,630 sqm property drew considerable interest, particularly from the Asian market.

The property was purchased via a successful expressions of interest campaign coordinated by CBRE’s Australian Healthcare and Social Infrastructure team of Jimmy Tat, Sandro Peluso, Marcello Caspani-Muto and Josh Twelftree.

CBRE’s Jimmy Tat said that the sale of the healthcare asset underlines the growing confidence in the medical investment sector despite the challenging climate.

“We are seeing more investors gravitate towards healthcare as an asset class due to its relative security given our ageing population and the increasing demand for medical service nationally,” he said.

Evidencing this, there was significant interest in this Stud Road medical precinct, with nine competitive bidders – six of which were local and the other three Asia-based.

Jimmy Tat – CBRE

The transaction marks the second significant healthcare sale in Wantirna in recent months, following the $4 million deal for 230 Mountain Highway in August as market confidence grows heading into the summer months.

“The reopening of the Victorian economy, coupled with the general stabilising of the wider Australian economy, is helping to reignite confidence in commercial real estate, with many investors looking for premium location assets and strong lease covenants,” Mr Tat.

Mr Peluso added that the security offered by medical assets was the reason behind the recent healthcare boom.

“Even in the middle of a pandemic it is proving to be a stable income-producing asset class,” he explained.

Healthcare property investors are less likely to feel the pressure of rental relief or long-term vacancies than traditional asset classes, which is a priority consideration for many investors.

Sandro Peluso – CBRE

Get Exclusive Access To OzHomeNews

Check out our latest content...

BRISBANE’S MOST EXPENSIVE PENTHOUSE

Award-winning ‘LakeHouse’

The ‘Gem’ In Emerald Lakes

“The One” Penthouse In Cleveland

Coco Privé! Little Cove’s Hidden Gem

La Banos-Tom Marshall Design

Check out our most popular articles!

Exclusive Entertainer’s Dream on the Market

$9.5m ‘Eagles Nest’ Listed on The Northern Beaches

007 Star Lists Malibu Mansion for $140m!

Remarkable Ridgeway Drive Home Up For Grabs

‘Castle in the Sky’ Sold for $4.2m

Top 10 Hottest Properties of the Week

Copy link
Powered by Social Snap