233 Lester Avenue, Geraldton WA 6530

RWC WA & JLL as Exclusive Selling Agents on behalf of RAM are delighted to offer to the market Panaceum Medical Centre for sale by Expressions of Interest (EOI) invited to be submitted Wednesday 8 May 2024 at 2pm (AWST).

Healthcare real estate has evolved into a major emerging asset class with institutional appeal underpinned by its non-cyclical income stream, increasing demand supported by a higher life expectancy and an ageing population in Australia. Additionally, significant government investment and the growth of the Private Health Insurance sector has boosted healthcare expenditure to new heights.

Salient details:

Panaceum Medical Centre - 233 Lester Avenue and 41 Fitzgerald Street, Geraldton WA 6530

Panaceum Medical Centre presents a rare opportunity to secure a strongly performing medical centre with a net rental profile and long-term tenant lead options. Strategically located nearby to substantial local amenity including Geraldton beach, Nagle Catholic College and Stirlings Central Shopping Centre. The specialist medical centre is underpinned by 16 doctors and offers ancillary services including pathology, pharmacy, pediatrics, physiotherapy, podiatry, psychology, physical rehabilitation and industrial healthcare.

• Multidisciplinary healthcare team
• Situated on a substantial 6,035m²* land area with two street frontages and 84* car bays
• Fully leased medical centre with WALE by Area of 7.59 years
• Two stand alone adjacent buildings with a total NLA of 1,879m²*
• Leased to Panaceum Medical Group, serving Geraldton since 1952
• Net Passing Income $834,642pa*

*Approximately