Overseas buyer splashes $4.5m on Sunbury shops and healthcare

92-96 O’Shanassy St, Sunbury sold to an overseas investor for $4.51 million.
92-96 O’Shanassy St, Sunbury sold to an overseas investor for $4.51 million.

An international investor has splashed $4.51 million on a property in Sunbury’s retail hub.

The buyer, of mainland Chinese heritage, was one of five bidders who battled for the healthcare and retail centre at 92-96 O’Shanassy St.

The price is the highest paid for a property in Sunbury this year, according to CoreLogic.

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CBRE’s Sandro Peluso says the result is encouraging in a challenging market.

“Five finance-approved buyers bid at the auction to fairly aggressive levels,” he says.

“The capital is still out there and astute buyers are identifying now as the best time to buy.”

The property borders a council carpark.

The healthcare and retail centre is leased by four tenants, including Lotus Dental and national general practice provider Tri-Star Medical Group.

Bordering a council carpark, the 1025sq m landholding has three frontages and a 708sq m building complex.

CBRE’s Jimmy Tat says the interest in healthcare investments from international investors has increased in the past 12 to 18 months.

“Buyer activity for this offering was no exception,” he says.

The buyer was attracted to the property because it offered long-term security and was located in a high-growth suburb where the population was expected to increase 115% by 2041, Tat adds.

This article from Leader Newspapers originally appeared as “Offshore investor splashes big bucks on Sunbury shops”.