Mornington Peninsula medical centre sale offers pathway to rare 2513sqm beachfront landholding
A Rosebud medical centre is offering investors and developers a rare pathway to assemble a 2513-square-metre beachfront holding on the Mornington Peninsula.
The $2.1 million-plus property at 1239-1241 Point Nepean Road is the key piece in a potential land assembly involving two neighbouring beachfront sites that would create a substantial three-title holding on one of Victoria’s best-known coastal strips.
“There is very little stock on market that can be considered even remotely comparable to this opportunity,” says Mason Viola, co-listing agent at James Gregson Commercial, which is marketing the property alongside Maker Property.
“Where can you secure a substantial beachfront corner landholding with a purpose-built medical centre for this price?”
Positioned opposite Port Phillip Bay, the property occupies an 878-square-metre site leased to Australian Clinical Labs until the end of 2026.
Rare Mornington Peninsula beachfront land assembly opportunity
Viola says the site stands apart because it offers “extraordinary” potential to acquire the neighbouring beachfront properties at 1233 Point Nepean Road and 1235 Point Nepean Road, the latter occupied by Rosebud Seaside Holiday Apartments, while the former most recently operated as a physiotherapy clinic.
Together, the three properties would create a 2513-square-metre holding along Point Nepean Road, giving an owner control of three of the four beachfront parcels within the block.
The combined site could pave the way for a larger redevelopment, food and beverage destination or mixed-use project, subject to approval.
“It’s been hot. People have been like: ‘Whoa’. I’ve been bombarded,” Viola says.
“We’ve got so many inquiries. People understand the developability of that particular parcel.”
The opportunity has attracted interest from investors, developers, medical operators and owner-occupiers since hitting the market, with agents promoting its “endless possibilities”.
Rosebud site could attract fast-food and drive-through operators
The three titles sit between First Avenue and the corner property at Second Avenue, currently home to Bay View Reformer Pilates 24/7, which is not involved in the sale.
Viola says the presence of longstanding McDonald’s and KFC outlets 300 to 400 metres away has already demonstrated demand for drive-through food operators in the precinct.
The larger holding could potentially appeal to national fast-food and hospitality brands seeking a prominent beachfront presence, while its mixed-use zoning also supports a range of alternative uses.
“We have seen significant interest from all purchaser groups on this opportunity, particularly those with a view to owner-occupy and take advantage of this primely positioned asset, as well as groups looking to invest or reposition this golden piece of corner beachfront land into something entirely new,” he says.
Viola says the combined landholding presents “a superb opportunity for pad sites” with drive-thru food offerings, citing operators such as Guzman y Gomez, Grill’d and Hungry Jack’s as examples of the type of occupier that could be attracted to the location.
The zoning also creates scope for residential, retail, commercial, medical or other mixed-use outcomes, subject to approval.
Industry trends have seen many medical centres evolve into integrated healthcare hubs, bringing multiple disciplines under one roof and changing the way developers, landlords and investors think about healthcare real estate.
Viola says the current owners originally acquired the consecutive properties with a similar land-assembly strategy in mind but have decided to return the opportunity to the market after opting to pursue separate investment paths.
Medical income with redevelopment upside
The existing purpose-built medical centre has operated for more than 30 years and previously housed Rosebud Medical Clinic and Rosebud Superclinic.
The approximately 190-square-metre building comprises six consulting suites, dual reception areas, staff amenities and kitchen facilities, supported by 14 on-site car spaces and solar power.
Its corner position provides more than 25 metres of frontage to Point Nepean Road and 33 metres to First Avenue, creating a combined frontage of almost 59 metres.
Australian Clinical Labs currently occupies about one-third of the building under a two-year lease expiring on December 31, with no further option.
The pathology provider pays annual rent of $40,784 plus outgoings and occupies two consulting rooms together with part of the reception and waiting area.
However, Viola says the tenant has expressed interest in remaining beyond the current lease term.
That provides buyers with the option to negotiate a new lease, introduce a second medical tenant, lease the entire facility to a larger operator or pursue owner-occupation.
“The property can be partly re-leased to maximise the building’s opportunity for dual income, or wholly leased to a larger medical practice,” he says.
“We’ve also had interest from doctors and allied health looking to purchase or potentially take a lease over the building.”
Beachfront position drives appeal
The property sits between the Rosebud and Capel Sound foreshores, directly opposite the beach and adjoining parkland.
“Cross the road through the park and you’re at one of Victoria’s best parts of the bay,” Viola says.
He says the location offers “a perfect balance between serene exposures and a dense residential area with high through traffic”.
Rosebud Hospital is about three minutes away by car, while Rosebud Plaza and the suburb’s main retail and hospitality precinct are also nearby.
Mason Viola and James Gregson of James Gregson Commercial are marketing the property, along with Anthony Kirwan and George Davies of Maker Property.
The property is for sale via expressions of interest, closing at noon on October 15.
