Purr-fect opportunity: Premium veterinary investment
No.488 Main Rd, Montrose is on the market with No.57 Burnett St, New Norfolk. Picture: Supplied
Two established veterinary clinics are for sale together, offering exceptional investment potential.
The portfolio combines state-of-the-art facilities in Montrose and a complimentary asset in New Norfolk.
Both are strategically positioned to capture the growing demand for veterinary services.
The buildings are 100 per cent occupied by long-term international tenant VetPartners, with lease security until 2027, plus two five-year options extending potential tenure to 2037.
With VetPartners operating over 270 clinics across Australia, New Zealand, and Singapore, the investment offers exceptional tenant covenant strength.
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No.488 Main Rd, Montrose.
No.488 Main Rd, Montrose.
The properties are listed for sale with George Burbury and Richard Steedman from Elders Commercial.
Mr Burbury said inquiries were coming in from Elders’ national database with a mix of local, interstate and international investors.
He said there has been a lot of interest in the campaign.
“The properties have been very well-received,” he said.
“The quality of the Montrose asset in particular is exceptional and presents as new”
The Montrose property at No.488 Main Rd showcases impressive credentials, featuring a heritage-listed building from 1880 that underwent significant modernisation and extension in 2013.
Spanning 400sq m across a 1170sq m, the facility boasts five consulting rooms, multiple operating theatres, and dedicated surgical suites.
No.57 Burnett St, New Norfolk.
No.57 Burnett St, New Norfolk.
The property’s proximity to Hobart, just 9km from the CBD, ensures excellent accessibility for clients and staff.
In New Norfolk, No.57 Burnett St offers additional value through its 645sq m site featuring surplus land with development potential.
The 150sq m building was constructed in 2011, and provides specialised veterinary accommodation, including consulting rooms and outdoor kennel facilities.
With Local Business zoning, Mr Steedman said expansion of the New Norfolk facility was one possibility for the land’s future.
“It’s a flexible commercial zoning, so there would be plenty of options for future use subject to the necessary approvals,” he said.
No.488 Main Rd, Montrose.
No.488 Main Rd, Montrose.
A favourable net lease structure sees the tenant responsible for all statutory outgoings and insurance costs, ensuring low operating costs for the owner.
The portfolio represents a compelling opportunity to acquire quality commercial assets, well below replacement cost, delivering immediate returns with long-term security.
No.488 Main Rd, Montrose and No.57 Burnett St, New Norfolk are for sale in one line with Elders Commercial. Expressions of interest will close on July 24 at 4pm.
