Burgess Rawson are pleased to offer to the market the Lot 2 & 3, 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:
+ Five (5) year lease terms across both tenancies to 2025 & 2026 with options to 2030 and 2031.
+ Australian Clinical Labs Ltd: ASX Listed pathology business with over 1,430 sites nationally (1) and a market capitalisation of $498.53 million. (2)
+ Kiddies Eye Care: Established in 2014, Kiddies Eye Care now have two (2) locations across Victoria with five (5) optometrists. (3)
+ 2 prime ground floor retail medical suites within the St John of God Granada Medical Centre to be sold together
+ A mixture of fixed 3% compounding annual rent increases, and annual CPI rent reviews.
+ Investor friendly net lease, with tenants paying all usual outgoings.
+ Exceptional tenant funded fit outs.
+ 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. (4)
+ Geelong: Booming growth location contributing to over $13.6 billion in annual economic output, total over 31% for the region. (5)
+ City of Greater Geelong: largest city in Victoria, outside Melbourne with a booming population expected to increase by 37% to 396,388 by 2041. (6)
+ 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. (7)
+ Potential 50% stamp duty savings.
+ Entry level investment within tightly held Geelong CBD medical precinct.
+ Net Rent: $90,920 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 24 Geelong Breast Clinic (Lake Imaging)
+ Lease Term: Seven (7) years to 2028
+ Estimated Net Income: $79,090 pa* + GST.
*Approximately
(1) Australian Clinical Labs
(2) ASX - 15/4/24
(3) Kiddies Eye Care
(4) City of Greater Geelong Data Exchange
(5) REMPLAN
(6) Forecast.id
(7) Parliament of Australia
