Sunshine day hospital hits the market

A medical facility in Melbourne’s west is set to hit the healthcare investment market, representing the second day hospital offering in Melbourne this year. 

The Sunshine facility is currently leased to the largest gastroenterology and hepatology practices in Melbourne’s west, Dr Gastroenterology and Dr Scope, on two 10-year terms, both with further 10-year options. 

The 493 Ballarat Road property earns a passing income of $520,000 per annum with a fixed rental increase of 3% from April 2020. 

It is being marketed by CBRE’s specialist Healthcare team of Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto.

It follows the recent $5.52 million sale of Chesterville Day Hospital in Cheltenham on a yield of 5.1%.  

“The recent Chesterville Day Hospital campaign generated strong interest from high-net-worth investors and national medical funds, highlighting a growing demand for premium hospital investments,” Peluso said.

The 2,130 square metre site is activity centre zoned, features 21 car parks and is surrounded by a range of retail and lifestyle amenity, including Sunshine Plaza and Sunshine Marketplace.  

“Located within a major activity centre, the property will benefit from the Brimbank City Council’s intentions to make Ballarat Road the gateway to Sunshine’s town centre,” Twelftree commented. 

 The expressions of interest campaign for the property ends August 21.