Medical Centre

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A medical centre in Glen Waverley has sold for $7.28 million following a successful expressions of interest campaign.   Located at a corner site, Waverley Medical Centre at <a id="LPlnk678473" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe8eh/HF3O3pksMou+fnPAz2N/89mqXJTr69NDWrCLBjqFk7iFYF6pKaoxtpDH+DvH1lmHN0vCKM3ddWVeLvlPis+Ftt2jNJOSxmUxIJDiy4wwgiX77YnMoW4VBz3ihrhDFenXcLRRBQ8=&amp;rh=ff004e4b2f94755f85cb18f7ab4fbfe58e9dbfc1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">242-244 Springvale Road</a> has a 613 sqm building area and a 1,504 sqm land area 
The property was marketed and sold by Ray White Commercial Glen Waverley Managing Director Ryan Trickey and Commercial Sales Agent Ben Ainsworth. 
Mr Trickey said, “there was a huge amount of interest in this property with more than 120 enquiries during the campaign, with 20 per cent coming from interstate and 10 per cent international."   “The asset was snapped up by a private group seeking static investment with future potential and was sold by a family consolidating their assets." “With the redevelopment of the Glen to the tune of $500M, and more than 500 new dwellings coming into the area, there's much to look forward to for both commercial and retail traders,” Mr Trickey added. 
Mr Ainsworth said the location, limited supply of stock and the ongoing growth of Central Glen Waverley as a commercial and entertainment hub, made the asset really appealing.   “The established medical clinic has been operating for over 30 years and offered an initial return of $297,052 p.a. + outgoings + GST, with three per cent annual increases,” he said.
It’s Zoned GRZ8 with Design and Development Overlay allowing for up to four levels or 13.5 metres, subject to council approval.
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Central Glen Waverley medical centre sells for $7.28 million

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Ashmore City Medical Centre, has taken up a new lease in an Ashmore City space undergoing a multimillion-dollar makeover.
The medical centre has taken a 10-year lease on the space and it is moving into the tenancy formerly occupied by Chempro. 
Angelo Efstathis, the managing director of centre manager First Asset Management, said the move was aimed at reactivating the middle of the centre and further improve customer convenience. 
Ashmore City Medical Centre is planning a $350,000 fit-out for the new premises, which comes on the heels of the $2.5 million upgrade currently under way by the centre owner and a $750,000 refurbishment by ANZ Bank.
Ashmore City Medical Centre is expected to start operating from its new location in early October. 
As part of the Ashmore City masterplan, the existing medical centre building will be converted into a professional services centre to complement established tenancies. 
Meanwhile, the $2.5 million upgrade currently under way at Ashmore City is expected to be completed well before Christmas. 
The capital works include a complete exterior facelift, as well as improved amenities including a new parents’ room and upgraded accessible amenities for shoppers. 
Ashmore City has 40 tenancies and is anchored by Drakes Supermarket, Chempro, Stacks Variety, Liquorland and Australia Post.
It is also home to five major banks, including ANZ, Commonwealth Bank, NAB, Westpac and Bank of Queensland.
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Medical Centre

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