Brand new medical centre listed for sale in Williams Landing
A brand new medical centre in the heart of Cedar Woods’ highly touted Williams Landing town centre is poised to hit Melbourne’s commercial property market and fetch circa $8 million.
Slated for completion in April 2019, the 1520 sqm medical centre at 111 Overton Road is situated on the ground floor of a commercial office building and pre-leased to a subsidiary of the national medical company Cornerstone Health Pty Ltd – trading as ‘Our Medical Home’. Cornerstone Health is led by CEO Henry Bateman, who brings with him almost two decades of experience managing a national medical operator, gained when overseeing the expansion of Primary Healthcare in his former role.
The tenancy is located just 20km from Melbourne’s CBD, with direct access to the Princes Freeway and the state-of-the-art Williams Landing train station.
CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat have been exclusively appointed to market the investment, which is underpinned by a 10-year lease term plus three five-year options.
Mr Peluso said; “The Williams Landing precinct is a dynamic commercial and residential hub, which is already buzzing with activity. The forecast growth within the wider city of Wyndham is already widely recognised by investors, however, a substantial volume of white-collar professionals are now choosing to relocate to the area with many surrounding apartment developments pre-sold, which is further enhancing interest.”
Mr Twelftree added; ”Healthcare investment yields having recorded continual compression over the past decade, this is one of the most impressive medical offerings to come to market in recent times, we’re anticipating a strong result.”
Cedar Woods’ Lloyd Collins, State Manager for Victoria, said 111 Overton Road presents a unique opportunity to enter a flourishing commercial property market.
Mr Collins said; “Williams Landing has stepped up as a major commercial hub in Melbourne’s west. With the infrastructure upgrades, quality of product, level of amenity and established communities, Williams Landing is now an extremely attractive offering for commercial buyers who are looking for new opportunities outside of the Melbourne CBD market.”
The property is being offered to market via an Expressions of Interest campaign closing on February 27 at 2:00pm (AEDST).