A medical centre in Adelaide’s south is up for sale is up for sale as demand for  healthcare assets around Australia grows. 

The property, Marion Specialist Centre at 199 Stuart Road in Seacombe Gardens, consists of a 978sq  m medical centre building on a 1,763sq m site, with 34 car parks. 

The two-level medical centre was originally constructed around 1980 but was been fully refurbished in  2021/22 and is an A-grade facility. 

It is fully leased to eight established medical and allied health tenants, including anchor tenant Radiology  SA. 

The asset is being taken to the market via an Expressions of Interest campaign run by Knight Frank  agents Chet Al, Max Frohlich and Ryan Mills. 

Mr Al said the medical investment opportunity had been met with strong buyer interest during the  campaign to date. 

“Potential purchasers have been drawn to the secure diversified cashflow of the property, underpinned  by strong tenants and a staggered lease expiry profile with a long WALE of 5 years by income,” he said. 

“The medical centre has a strong history of tenant retention and with limited surrounding alternatives  for occupancy outside Westfield Marion there is a high probability of lease renewals. 

“As investors have looked to diversify their portfolios in recent years, healthcare assets have been  sought after, and the secure income offered by the Marion Specialist Centre has attracted buyers during the sales campaign.” 

Mr Frohlich said the property was strategically positioned directly across from Westfield Marion,  Adelaide’s largest shopping centre, including a bus interchange. 

“It has high visibility to passing traffic daily and a strong street presence,” he said. 

“The area also has plenty of surrounding amenity and complementary allied health uses and  government support services, including Flinders Medical Centre and Flinders University. 

“The building itself is of high quality, having undergone a complete refurbishment a few years ago  including a major contemporary façade upgrade, lift replacement and full refurbishment of common  bathrooms.

“This year the investment market has showed strong signs of recovery with several impending sales,  and we are finding investors drawn to South Australia’s market due partly to the fact that there is no  stamp duty for commercial transactions.” 

The Expressions of Interest campaign for the property will close at 4pm (ACDT) on April 10.

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Medical centre for sale in Western Australia’s southwest - Knight Frank | Commo.

Ellen Health Medical Centre in Perth’s Fremantle sold for $9m+ - Knight Frank | Commo.