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26A & 26B Dickens Street
Elwood VIC 3184
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Sold on 22 Feb 2024

26A & 26B Dickens Street Elwood VIC 3184

  • Medical / Consulting
  • 418 m²
  • Sold

Circa 7.25% Yield | Day Hospital & Medical Centre | One of Australia's Most Resilient Asset Classes

    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

    AUCTION

    Auction date and time21/02/2024 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 Sold22 Feb 2024
    Floor Area418 m²
    Land Area822 m²
    ParkingAsk Agent
    Property ID2019009640
    Category
    Last updated  21 Feb 2024
    Map for 26A & 26B Dickens Street Elwood VIC 3184
    Burgess Rawson VIC Pty Ltd
    Burgess Rawson VIC Pty Ltd
    Level 20, 150 Lonsdale Street
    Melbourne, VIC 3000

    Property Highlights

    Date Sold22 Feb 2024
    Floor Area418 m²
    Land Area822 m²
    ParkingAsk Agent
    Property ID2019009640
    Category
    Last updated  21 Feb 2024

    Co-Agents

    Beau Coulter
    Burgess Rawson VIC Pty Ltd
    Call
    0413 839 898
    Shaun Venables
    Burgess Rawson VIC Pty Ltd
    Call
    0411 860 865

    More about 26A & 26B Dickens Street Elwood VIC 3184

    26a & 26b Dickens Street Elwood VIC 3184 is categorized as Medical & Consulting Property. It has a floor area of 418 m² and a land area of 822 m². The listing ID for this property is 2019009640.

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