A medical centre located in the Melbourne suburb of Williams Landing has been sold to property fund Barwon Investment Partners for $8.2 million.

The medical suite was built by national property developer Cedar Woods will be located on the site of 111 Overton Road, approximately 19 kilometres west of Melbourne’s CBD, and when construction is completed by the end of April.

The property boasts 1,520 square metres of lettable ground floor area and it is fully leased to Cornerstone Health.

At a glance: 

• A medical centre at 111 Overton Road  has been sold for $8.2 million to Barwon Investment Partners.
• The transaction was negotiated by CBRE's Josh Twelftree, Sandro Peluso and Jimmy Tat.
• The property has 1,520 square metres of lettable ground floor area and is fully leased to Cornerstone Health.

Josh Twelftree, Sandro Peluso and Jimmy Tat, all members of CBRE’s healthcare team, negotiated the transaction.

“Healthcare investment yields have recorded continued compression over the past few years and, as a result, we’re seeing strong interest translate into demand for high quality strata assets,” Mr Twelftree said.

“The security associated with the healthcare investment class, coupled with its tightly held nature, means buyers are being increasingly selective between freehold and strata assets.”

Mr Peluso added that the precinct in Williams Landing has immense potential for the future.

“Forecasted growth within the wider city of Wyndham has been well received by investors, who have also been surprised by the significant number of white-collar professionals re-locating to the area,” he said.

“The asset attracted multiple offers with Barwon beating out both domestic and international investors.”

Related reading: 

Surry Hills office building sells for $39.5 million 

Record yield from $2.66 million Melbourne pharmacy sale

New cafe set to open in Brunswick West