The Casey Medical Centre in the Melbourne suburb of Cranbourne is being listed for sale this month.

The 4,137 square metre facility at 2 Woodbine Road is fully leased with a passing income of $1.3 million and is poised to capture the attention of high-net-worth private investors, private wealth management funds and A-REITs.

CBRE’s Specialist Healthcare team, Sandro Peluso, Josh Twelftree, and Jimmy Tat, have been appointed to market the centre, which is positioned opposite Bunnings and Woolworths in Cranbourne North and has a dual street frontage to Thompsons Road and Woodbine Road. 

At a glance:

• The Casey Medical Centre in the Melbourne suburb of Cranbourne is being listed for sale this month through CBRE.
• The 4,137 square metre facility at 2 Woodbine Road is fully leased with a passing income of $1.3 million.
• CBRE’s Specialist Healthcare team, Sandro Peluso, Josh Twelftree, and Jimmy Tat, have been appointed to market the centre.

Mr Twelftree said there were two investor preferences when it comes to medical centres; investors who opted for smaller, convenience-based GPs and specialists and investors who favoured a consolidation of specialists into super clinics. 

“In more recent times, the latter appears to be more popular with investors – an emerging trend amongst industry experts, positioning the medical centre positively in the long term,” he said.

Mr Peluso said that potential buyers would be looking at long-term development and repositioning prospects, given the site’s significant street exposure, surrounding amenity and the prediction that the City of Casey population would surpass Canberra’s within a few decades.

“With over 10 per cent of the population aged between zero and four, Cranbourne’s substantial younger demographic will require greater GP and specialist services in coming years,” he said.

"The medical centre’s quality tenant offering includes Thompson Road Clinic, which has been growing its presence in the local area since 1987 – creating an element of security for future landowners."

The landholding is expected to enter the market in mid-July via a formal Expression of Interest campaign.

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