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1111 Howitt Street
Wendouree VIC 3355
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Sold on 7 Aug 2024

1111 Howitt Street Wendouree VIC 3355

  • Medical / Consulting
  • 620 m²
  • Sold

ASX-Listed Medical Investment | Longstanding Tenant On-Site 20+ Years

    Burgess Rawson are pleased to offer to market 'Lake Imaging' (Integral Diagnostics) located at 1111 Howitt Street, Wendouree (Ballarat) VIC for sale via Auction Investment Portfolio 170.

    The property has the following key investment highlights:

    + Renewed Five (5) year net lease to Lake Imaging to October 2029.
    + One (1) further 5 year options to October 2034.
    + Lake Imaging: market leading diagnostic radiology provider with 18 sites in Central and Western Victoria and wholly owned by ASX-listed medical giant Integral Diagnostics. (1)
    + Integral Diagnostics (ASX:IDX): international radiology and medical imaging provider ($605 million market cap) with 91 locations across Australia & New Zealand. (2)(3)
    + Favourable annual CPI reviews with important 'ratchet provision' ensuring rent cannot reduce.
    + Investor preferred net lease terms with Lake Imaging responsible for all outgoings including land tax.
    + Immaculate 620sqm* purpose-built radiology clinic with capital intensive tenant-funded fitout.
    + Significant 38.5% potential depreciation in year 1 of ownership. (4)
    + Established tenant of 20+ years.
    + Substantial 1,752sqm* main road freehold MUZ site with 24 car spaces provided on title.
    + High profile Howitt Street position with 20,000 vehicles passing daily. (5)
    + Situated in dominant medical precinct amongst Ballarat Day Procedure Centre, Lake Health Group, Bupa Dental, Ballarat Family Care Pharmacy & Sovereign Radiology. (5)
    + Surrounded by numerous national retailers with McDonald's, Woolworths, Harvey Norman and Stockland Wendouree (100+ stores) all within 845m. (6)
    + Ballarat: capital of Western Victoria with population forecast to surge 34.72% to 164,365 by 2046. (7)
    + Potential 50% stamp duty savings.
    + Net Income: $282,550 pa* + GST (as at October 2024).

    For Sale by Investment Portfolio Auction
    10:30am AEST Wednesday 7 August 2024
    River Room - Crown Casino, Melbourne

    1 Lake Imaging
    2 Yahoo Finance
    3 Integral Diagnostics
    4 J Mathew Advisory
    5 GapMaps
    6 Stockland Wendouree
    7 forecast.id

    AUCTION

    Auction date and time07/08/2024 10:30
    Auction locationCrown Casino - River Room - Melbourne
    Burgess Rawson VIC Pty Ltd
    Burgess Rawson VIC Pty Ltd
    Level 20, 150 Lonsdale Street
    Melbourne, VIC 3000

    Property Highlights

    Date Sold7 Aug 2024
    Floor Area620 m²
    Land Area1,752 m²
    ParkingAsk Agent
    Property ID2019357871
    Category
    Last updated  7 Aug 2024
    Map for 1111 Howitt Street Wendouree VIC 3355
    Burgess Rawson VIC Pty Ltd
    Burgess Rawson VIC Pty Ltd
    Level 20, 150 Lonsdale Street
    Melbourne, VIC 3000

    Property Highlights

    Date Sold7 Aug 2024
    Floor Area620 m²
    Land Area1,752 m²
    ParkingAsk Agent
    Property ID2019357871
    Category
    Last updated  7 Aug 2024

    Co-Agents

    Sam Mercuri
    Burgess Rawson VIC Pty Ltd
    Call
    0413 830 709
    Burgess Rawson VIC Pty Ltd
    Call
    0407 520 725
    Burgess Rawson VIC Pty Ltd
    Call
    0417 308 067

    More about 1111 Howitt Street Wendouree VIC 3355

    1111 Howitt Street Wendouree VIC 3355 is categorized as Medical & Consulting Property. It has a floor area of 620 m² and a land area of 1,752 m². The listing ID for this property is 2019357871.

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