An exclusive Bayside medical center sold for $3,525,000 reflecting a $625,000 uplift in price for the owner who originally purchased the property just 18 months ago. The transaction was handled by the specialist team of CBRE Australian Healthcare and Social Infrastructure Sandro Peluso, Josh Twelftree, Jimmy Tat & Marcello Caspani-Muto. 

390 Bay Street, Brighton presented one of the last few remaining opportunities for medical usage and owner occupation along the tightly held Bay Street strip and is positioned meters from both Coles Supermarket and the new Bianco Apartment Development (429 Bay Street, Brighton) which was sold by the same agency team over 2 years ago.

The transaction was handled by CBRE’s specialist Australian Healthcare and Social Infrastructure team of Sandro Peluso, Josh Twelftree, Jimmy Tat & Marcello Caspani-Muto with a number of medical owner occupiers vying for the opportunity which was transacted under 48 hours before it’s scheduled auction this Friday.

The former Genesis Medical Centre featured a permit for 5 medical practitioners and was purchased by a Vet who will occupy and refurbish the facility moving from any existing premises around the corner.

Josh Twelftree said “The property presented a substantial landholding with 17m* frontage to Bay Street so coupled with a local median house price $2.87m the opportunity lent itself well to high end healthcare professionals given it’s existing medical permit. The opportunity attracted enquiry from dental, cosmetic surgery and veterinary groups just to name a few.”

CBRE’s Jimmy Tat said “Quality owner occupier and investment opportunities within Brighton are already few and far between, however this property is particularly notable as it was one of the last few remaining opportunities in the heart of the golden mile and was about as close to the central retail strip as you could get.”

390 Bay Street featured and existing building area of 300sqm and land area of 767sqm and is zoned General Residential.

To request a copy of the sales analysis for 390 Bay Street Brighton please email either of the marketing team at CBRE via the contact forms below. 

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