INVESTOR INJECTS 4M IN MEDICAL CENTRE
Posted on 19 April 2016
A MELBOURNE-based investor has purchased a new Mornington Peninsula medical centre at auction for $4.025 million, reflecting a 4.59% yield.
Vinci Carbone handled the campaign for the property at 319 Main St Mornington, which culminated in competition between several bidders on auction day in front of a crowd of nearly 100 people. The commercial 1 zoned property has a building area of 530 sqm and returns $185,000 per annum.
Director Joseph Carbone said the campaign generated 110 enquiries over a four-week period, and more than 25 inspections.
“It just goes to show the level of demand for well-leased properties, this property leased to a medical group on a straight ten-year lease. It is a brilliant property located on a prominent corner as you approach the Mornington Shopping strip, which added to its appeal,” Carbone said.
“We are currently experiencing unprecedented levels of demand for investment properties with yield expectations dropping substantially over the past 12 month, where yields of 4.5% are the new norm.” He concluded.
Vinci Carbone handled the campaign for the property at 319 Main St Mornington, which culminated in competition between several bidders on auction day in front of a crowd of nearly 100 people. The commercial 1 zoned property has a building area of 530 sqm and returns $185,000 per annum.
Director Joseph Carbone said the campaign generated 110 enquiries over a four-week period, and more than 25 inspections.
“It just goes to show the level of demand for well-leased properties, this property leased to a medical group on a straight ten-year lease. It is a brilliant property located on a prominent corner as you approach the Mornington Shopping strip, which added to its appeal,” Carbone said.
“We are currently experiencing unprecedented levels of demand for investment properties with yield expectations dropping substantially over the past 12 month, where yields of 4.5% are the new norm.” He concluded.