 Asset Class: | Medical |
 Price: | $ 2252000 |
 Net Yield: | 6.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
64 Arnisdale Road, Duncraig, is a well-positioned ground floor medical strata unit fronting a boutique complex of six (6) medical units, positioned directly opposite the Glengarry Hospital and a major shopping centre in the north Perth suburb of Duncraig.<br>The property comes with a long lease to MTM Physiotherapy out to 2031 on the current term plus another option to 2036. <br>MTM are fully established at this location having operated at the same property for over 30 years, specializing in post-surgery and sports injury and recovery treatments. <br>The property provides great access and exposure as a front facing unit in a high-traffic area surrounded by both residential housing estates and commercial precincts. <br>Unit 1 features an open foyer, reception area, 6 treatment rooms, therapy rooms, a physio rehab gym, and more. <br>The medical complex provides 35 onsite parking spaces and is located near rail lines and the Mitchell Freeway with over 53,000 vehicles daily with proximity to Sorrento Beach, an affluent Perth suburb with a median house price of $1.6M.
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Duncraig is a northern suburb of Perth, the capital city of Western Australia, and is located 16 kilometres (10 mi) north of Perth's central business district (CBD) between Marmion Avenue and Mitchell Freeway. <br>Its local government area is the City of Joondalup<br>Duncraig is a residential suburb, although has numerous small parks and bushland areas, and the Percy Doyle Reserve which contains a library and recreation centre.<br> It also contains a multipurpose sports complex including several football fields and soccer pitches, lawn bowl greens and over 20 tennis courts. <br>Several neighbourhood shopping centres are dotted throughout the suburb, the largest of which are Glengarry and Carine Glades.
Additional Location Information FileThe building was built in 1994 by the owners of Glengarry Private Hospital on the opposite side of the road. Unit 1 was designed to be a Sports Medicine Centre to feed patients into their theatres and orthopaedic wards.<br>The two businesses that leased the unit from Glengarry Private Hospital were Sports Medicine Glengarry, owned by Sports Physician Duncan Sullivan, and MTM Physiotherapy Glengarry owned by three physiotherapists.<br> In 1997 the hospital changed ownership, and the new owners offered the tenants the opportunity to purchase the unit, which they did. <br>MTM Physiotherapy ownership changed in 2020 with the three original owners of MTM Physiotherapy being bought out by two 45-year-old physiotherapists, who started as employees in 2000. <br>MTM leased 62% of the NLA along with sessional doctors who leased 13% and Dr Duncan Sullivan who leased 25% of the NLA.<br>Following Dr Sullivan selling his sports medicine practice in April 2024, MTM requested to lease 100% of the 306m2 NLA with a new 7-year lease plus a 5-year option being put into place beginning 1st June 2024<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://glengarrygastroenterology.com.au/"><u>https://glengarrygastroenterology.com.au/</u></a><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.glengarryprivate.com.au/Our-Doctors/Specialists/glengarry-private-hospital/obstetrics-andgynaecology/"><u>https://www.glengarryprivate.com.au/Our-Doctors/Specialists/glengarry-private-hospital/obstetrics-andgynaecology/</u></a><br>104272/dr-stas-vashevnik<br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://bundleandme.com.au/bundle-me-duncraig/"><u>https://bundleandme.com.au/bundle-me-duncraig/</u></a><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://handworks.net.au/patient-services/"><u>https://handworks.net.au/patient-services/</u></a><span></span>
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1/64 Arnisdale Road, Duncraig, 306m2, $441/sqm ($7,359/sqm) 3/64 Anisdale Road, Duncraig, 84m2, $300/sqm back in 2021 (reduced rate at the time, 18mth term only, in 1990s condition, owner has since moved in to refit the unit and run their business Handworks Occ Therapy) 4/64 Anisdale Road, Duncraig, 98m2, $352/sqm, sold $5,306/sqm Aug 23’ (located on the 2nd floor, versus ground floor) 4/473 Beach Road, Duncraig – Travel Agency – 122m2 - $460m2 + GST + Outgoings 3/473 Beach Road Duncraig – Optical Dispensary – 122m2 - $451m2 + GST + Outgoings 6/473 Beach Road, Duncraig – Podiatrist – 50m2 - $544m2 + GST + Outgoings Unit 1, 91 Hampton Road, Fremantle, Ellen St Medical, 748m2, $500/sqm Unit 2, 91 Hampton Road, Fremantle, Life Care Physio, 161m2, $585/sqm Unit 62, 85 Monash Avenue, Nedlands, One Clinical Research, 84m2, $415/sqm 4 Hardey Road, Glen Forest, Glen Forest Medical Centre, 477m2, $430/sqm Unit 2 / 473 Beach Road, Duncraig (Hearing Specialist), 117SQM, ~$460/SQM (with 3% pa applied since 2021) – Ground Floor. Opposite Shopping Centre. Parking can be an issue. 2C / 2 Gemstone Blvd, Carine (Psychology), 102SQM, ~$355/sqm (with 3% pa applied since 2021). Newer Building however not a lot of other medical or commercial nearby. Restricted parking. 1 / 2 Gemstone Blvd, Carine (Medical) 160SQM, ~$388/sqm (with 3% pa applied since 2021). Newer Building however not a lot of other medical or commercial nearby. Restricted parking
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<br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Medical Operator in place in since 1994</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Prime Position fronting the complex, ground floor</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Strategic position opposite Glengarry Hospital</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">306m2 strata unit in a complex of 6</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Allied health & medical destination property</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Situated within affluent Perth residential area</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Opposite major private hospital operated by Ramsay Healthcare</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Fully established medical operator in place since 1994</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">$143,820 rental pa (less rental management fee, quoted by the agent)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> $135,190 net income after rental mgt fee</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Leased out to May 2031 plus a 5-year option to May 2036.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">CPI annual increases in the lease</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Tenant pays all outgoings except property management ($8,630 pa via the current manager ‘Realty Source’ who have managed the same property since 2021)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> Zoned commercial, Perth City of Joondalup</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> 35 onsite shared car spaces</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;"> No Security Bond – tenant in place since 1994</span></p></li></ul>
