Vacant Vermont medical centre taps local demand

A vacant medical centre with plenty of parking space is on the market in Vermont.

A vacant medical facility is expected to attract healthy competition from prospective buyers when it heads to auction.

The Vermont centre, fitted with five clinical rooms, plus reception, waiting and treatment areas, has been attracting interest around the $1.5 million mark, according to its agent.

The medical facility is on a 1418sqm block that includes parking for 22 vehicles and will be sent under the hammer on Thursday, March 22.

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CBRE director Sandro Peluso says the site at 529 Mitcham Rd appeals to investors and medical professionals looking for a new base.

The car park at the Vermont medical centre.

“We know demand for medical services in the City of Whitehorse is strong,” Peluso says.

“Vermont is a hotspot for healthcare professionals and the listing represents an unmissable opportunity for owner-occupiers.

“It’s been very well received, because of how tightly held medical centres are.”

The medical centre is ready to move in to.

Peluso says there has been an increase in the number of family support centres on the market, with a brand new Blackburn childcare centre also going to auction on March 28.

“There’s a few of these properties coming up for sale now,” Peluso says.

“The cost of money is cheap, that’s why we’re seeing so many investors prepared to pay … there’s going to be significant uplift due to the underlying value being in the land.

The reception area at the facility.

“They’re very sought after, these assets.”

The childcare centre at 50-52 Blackburn Rd, on a 1490sqm block and licensed for 104 daycare places, is on a 10-year lease to Guardian Early Learning, with an estimated annual income of $341,000.

“So far the interest has been around the $5 million-plus mark,” says Peluso.

“It’s a pretty compelling tenant with a long lease, there are significant depreciation benefits — so that’s probably why it’s going so strong.”

This article from Leader Newspapers originally appeared as “Medical centre with healthy demand heads to auction”.