A freestanding Medical Health Centre on the Western Australian coast is expected to fetch more than $15 million after being listed for sale by CBRE. 

Murray Medical Centre at 34-36 Minilya Parkway, Greenfields is situated 50 metres from the 260-bed Peel Health Campus and directly opposite a new Genesis Cancer Centre. 

The 6,295 square metre central landholding, which has a current WALE of 4.7 years, offers high exposure from its position near the Kwinana Freeway and is underpinned by the tenant which has been servicing the local community for over 20 years.

At a glance:

• Murray Medical Centre at 34-36 Minilya Parkway, Greenfields has been listed for sale by CBRE's National Healthcare and Social Infrastructure Team.
• The 6,295 square metre central landholding, which has a current WALE of 4.7 years, is expected to sell for more than $15 million.
• The property is situated in the heart of Mandurah's healthcare precinct.

CBRE's Josh Twelftree said the company's National Healthcare and Social Infrastructure Team anticipated inquiries from high net worth private investors and institutional funds that invest in the healthcare sector.

“Seven longstanding medical tenancies occupy the building, with services including general practice, cardiology, radiology, allied health, gynaecology, pathology, specialist consulting rooms and a large retail pharmacy,” he said.

CBRE Healthcare and Social Infrastructure Director Sandro Peluso said healthcare buyers were considering all parts of Australia for opportunities.

“Once buyers have comfort in the sector, we find they are repeat buying regardless of state," he said.

"The key to their investment decisions are based on the size of the landholding, how experienced and long-standing the tenant is, the local demand for medical services and if the property is part of a health hub surrounded by complementary health services.”

“There is also a lack of opportunities circa $15 million, which is why assets are hotly contested when they are brought to the market nationally.

"We currently have property fund clients that have over-subscribed capital and they must buy to appease investors.”

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