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26A & 26B Dickens Street, Elwood, VIC 3184

2. Property Highlights

Circa 7.25% Yield | Day Hospital & Medical Centre | One of Australia’s Most Resilient Asset Classes
  • Renewed 5 year leases to 2028 + opts
  • Dual Income Healthcare Investments
  • Prominent 822sqm* Corner Landholding

Burgess Rawson and JLL are delighted to present to market a long established freehold medical Investment at 26A & 26B Dickens Street, Elwood Victoria for sale via Investment Portfolio Auction 166.

This investment has the following key highlights:

+ St Kilda Day Hospital: new 5 year lease to 2028 + plus options to International not-for-profit MSI with 37 locations worldwide.

+ St Kilda South Medical Centre: general practice in occupation since 1986 with renewed 5 year lease to 2028 plus options

+ Two well maintained and presented medical buildings totalling 418sqm plus basement car parking for 7 cars

+ Prominent 822sqm* corner landholding with high underlying land value and 46 metre* frontage to Dickens Street.

+ Attractive landlord-favourable net lease structures with tenants paying all usual outgoings excluding land tax.

+ Certain income growth with built in rent increases.

+ Well located within close proximity of the Alfred Medical and Education Precinct

+ Medical Centre income underpinned by subleases including Sonic Health and Healius Pathology

+ Elwood: fashionable bayside suburb bordered by St Kilda, Brighton and Caulfield with a median house price of $2,200,000

+ Net Income: $441,089* + GST (as at April 2024)

To be sold by Portfolio Auction 166

10:30am AEDT Wednesday 21 February 2024

Crown Casino, Melbourne VIC

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3. Property Location

26A & 26B Dickens Street, Elwood, VIC 3184

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4. Due Diligence

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26A & 26B Dickens Street, Elwood, VIC 3184 Elwood