Colliers introduce an exceptional investment opportunity at 10 Atkins Street, North Bendigo, to market. This purpose-built residential healthcare complex has specifically been designed to house essential workers from Bendigo Hospital, the largest regional hospital in Victoria. 

The property comprises 120 well-maintained apartments, fully leased to Bendigo Health Care Group until March 2044, ensuring a secure lease term of 19.46 years.

As a State Government entity, Bendigo Health Care Group manages the primary public sector functions of Bendigo Hospital,  providing the asset with a robust AA-rated State Government covenant and a stabilised Triple Net  long-term income stream. 

The complex features eleven three-storey buildings, thoughtfully designed to offer a well-distributed  and accessible layout that maximises each apartment's outlook and natural light.

The 7,971 sqm site is surrounded by sporting grounds and Crown public open space, offering a pleasant outlook and  potential for future expansion (STCA). 

Thomas Blencowe, Colliers Director of Capital Markets, stated, "This is a compelling investment  opportunity, one that has an Indexed Government Bond-like security, with exposure to the most  sought-after real estate sectors, Australian Residential and Healthcare, in one of Victoria's fastest growing regional cities." 

The property, built in 2014, comprises 96 one-bedroom and 24 two-bedroom apartments, ranging  from 40 to 65 sqm.

The apartments feature open-plan living/dining areas with galley kitchens,  bedrooms with built-in wardrobes, European laundries, and balconies on the upper floors. Lower  levels include terraces and landscaped surroundings. 

Ian Sanders, Colliers Head of Transaction Services, Asia Pacific | Healthcare and Retirement Living,  added, "The Healthcare and Retirement Living sector is poised for growth. This is fuelled by strong  investment fundamentals and Australia's growing and ageing population seeking a range of  alternative living options."

"The market is currently experiencing unprecedented demand for healthcare, largely driven by  population demographics and the non-discretionary nature of the sector. This demand is driving  investor, developer, and owner-occupier appetite for assets." 

10 Atkins Street, North Bendigo, is strategically located within 500 metres from Bendigo Hospital, the  main public hospital for Bendigo and the primary healthcare asset for the Lodden Malle Region,  which includes Mildura, Echuca, Swan Hill, Kyneton, and Castlemaine. 

Travis Hurst, Colliers Managing Director for Ballarat, Geelong, and Bendigo, said, "Bendigo, Victoria's  third-largest key regional hub, continues to attract strong residential demand due to its appealing  lifestyle, affordability compared to Melbourne, and well-developed infrastructure and strong  regional economy.

"The city's diverse community includes a mix of first-time homebuyers, families,  and retirees, all drawn to the area for its balance of urban amenities and relaxed lifestyle options." 

"The population of Greater Bendigo has been steadily growing, reaching over 124,000 in 2023. With  54,000 dwellings and an average household size of 2.3 people, this growth is driven by both  economic opportunities and the region's lifestyle appeal. Notably, the largest age group within the  population is 25 to 29-year-olds, further reinforcing the demand for additional rental housing  options." 

10 Atkins Street, North Bendigo, is being offered for sale by International Expressions of Interest,  closing Friday, 1st November 2024, at 2pm (AEST). 

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