 Asset Class: | Medical |
 Price: | $ 960000 |
 Net Yield: | 6.34 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<b>Secure Medical Asset on High Exposure Corner in Prime Location with Strong Net Yield at 6.34%</b><br><br>Presented below is an exceptional ground-floor strata investment positioned on a high-exposure corner lot with a 13m street frontage. The property boasts a 140sqm building area, constructed in 2007, offering evident depreciation benefits.<br><br>With a purchase price of $960,000, the asset delivers a solid net yield of 6.34% after all outgoings are deducted. The current net rental income is $60,929.39pa + Outgoings + GST (incl. management), with annual CPI increases plus 1.5% rent reviews, and a market review at option (2027).<br><br>The lease is set to expire on 19 October 2027, followed by 3-year option period, extending to 2030.<br><br><br><b>What We Like About This Asset</b><br><br>- Strong tenant tracking record (since 2014)<br>- Blue chip location (Inglewood); 3km North of Perth CBD<br>- Extensive fitout paid for by tenant = commitment to location<br>- Attractive parking ratio at 1 bay in 47sqm + ample street parking = easy access for customers<br>- Modern fitout & built in 2007 > depreciation benefits evident
How old is the asset?
Vendor's reason for selling?
Days property been on market?
Is this property strata titled?
Are the seller and tenant related parties?
How long has the current tenant been on site?
How long has the tenant been in business?
Is this property in a flood zone?
Is this lease a leaseback arrangement?
<b>The Medical Market</b><br><br>Inglewood has a well-established medical market with a mix of healthcare providers catering to the local community. The suburb hosts general practitioners, dental clinics, physiotherapy services, and wellness centers. Notable businesses include the Inglewood Child Health Centre, which offers essential child health services, and Dentique Dental Spa, specializing in cosmetic dentistry. These businesses contribute to a comprehensive medical ecosystem, supporting both primary and specialized healthcare needs. <br><br>In terms of development density, Inglewood features a diverse housing mix with a higher proportion of apartments compared to the state average. Approximately 21.8% of dwellings are apartments or flats, significantly surpassing Western Australia's 5.7% average. Out of 2,282 occupied dwellings, the majority are detached houses (1,403), followed by semi-detached homes (373) and apartments (497). This mix reflects the suburb's evolving urban landscape, characterized by increased medium-density living. The presence of higher-density housing supports local medical businesses by ensuring a steady demand for healthcare services within a walkable community.<br><br><b>Lifestyle & Population</b><br><br>Inglewood, Western Australia, has experienced steady population growth over recent decades. This trend reflects a consistent increase, with a 3% growth observed between 2011 and 2016. The broader Mount Lawley-Inglewood statistical area, encompassing Inglewood, reached an estimated population of 18,120 in 2023, suggesting continued growth in the region.<br><br>The suburb is characterized by a vibrant lifestyle, blending urban amenities with a community-focused atmosphere. Residents enjoy access to numerous parks, with green spaces covering nearly 36.4% of the area, providing ample recreational opportunities. The local government has implemented character retention guidelines to preserve Inglewood's unique architectural heritage, ensuring that new developments harmonize with existing structures.<br>
Additional Location Information File<b>Cardio Vascular Services</b><br><br>Cardio Vascular Services (CVS) specializes in diagnostic testing and consulting for cardiovascular and vascular health. Their services include electrocardiograms (ECG), echocardiograms, stress ECGs, Holter and event monitoring, ambulatory blood pressure monitoring, and stress echocardiography. CVS operates multiple clinics across Western Australia and Victoria, ensuring accessibility to their comprehensive cardiac and vascular diagnostic services.<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://cvs.net.au/"><u>https://cvs.net.au/</u></a><span></span>
Initial Term:
Security:
Security Info:
Gross lease, outgoings are not recoverable.<br><br>Management Fees paid for by the Landlord $5,514.66 pa<br>Council Rates $4,026.47<br>Strata $5,900<br>Water Rates $3,234.60
Additional Financial Information FileInitial Term:
Security:
Security Info:
826A Beaufort Street, Inglewood - 140m2 - $475/m2 908 Beaufort Street, Inglewood - 119m2 - $517/m2 2/1010-1012 Beaufort Street, Bedford - 76m2 - $461/m2 1/7 Scarborough Beach Road, North Perrth - 136m2 - $500/m2 1/312 Walter Road, West Morley - 67m2 - $597/m2 55/76 Eighth Avenue, Maylands - 62m2 - $450/m2
Offer To Purchase:
$
Initial Deposit:
$
Due Diligence:
days
Finance:
days
Settlement:
days
<b>Purchase Price:</b> $960,000<br><br><b>Current Gross Rent:</b> $79,605.12pa + GST (excl mng)<br><b>Less Management:</b> $5,514.66pa + GST (not recoverable)<br><b>Less Outgoings:</b> $13,161.07pa (not recoverable)<br><b>Current Net Rent:</b> $60,929.39pa + Outg + GST (incl mng)<br><b>Exclusive Car Bays (Ratio):</b> 3 exclusive car bays<br><b>Current Net Yield:</b> 6.34% (incl mng)<br><b>NLA / Land:</b> 140sqm (strata)<br><b>Purchase Rate per sqm:</b> $6,786/sqm<br><b>Net Rent per sqm:</b> $475/sqm (excl mng)<br><b>100% Outgoings Recoverable:</b> No, Gross Lease<br><b>Outgoings (per sqm): </b>$13,162pa ($94/sqm) (excl mng)<br><b>Age of Asset:</b> 2007 / approx. 18 years<br><b>Any Incentives in the Lease: </b>None<br><b>Are Seller & Tenant Related:</b> No<br><b>Re-letting Period:</b> 2-4 months in the current market (high tenant appeal due to modern fitout, corner ground level exposure & sought-after location)<br><b>Flood Zone:</b> No<br><b>Bushfire Zone:</b> No<br><b>Contamination:</b> No<br><br><b>Asset Composition: </b><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;">Ground Floor Strata, comprising Pt36 & Pt37</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;">Corner lot</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;">140sqm of NLA</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;">3 exclusive car bays</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;">Quality partitioning with extensive medical fitout</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;">Fitout includes ceiling, lighting and ducted reverse cycle air conditioning</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 self-contained - Includes kitchen and toilets</span></p></li></ul><br><b>Infrastructure Level: </b>Tier 1<br><br><b>Key Highlights:</b><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;">Ground Floor Strata on high exposure corner </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;">140sqm of building area + 3 exclusive bays</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;">Built in 2007 > depreciation benefits evident</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;">Purchase Price $960,000</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;">Current net rent $60,929.39pa + Outg + GST (incl mng)</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;">Net Yield 6.34%</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;">Lease Expiry 19 Oct-2027 + 3-years (2030)</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;">Annual CPI increase plus 1.5% rent reviews, market review at option (2027)</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 - Clinical Integration Solutions Pty Ltd</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;">Located 8km West of the Perth Airport </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;">Located 5km North of the Perth CBD</span></p></li></ul><br><b>Agent Questions:</b><br><br><b>How old is the building?</b> Strata signed off in 2006, so approx. 2007.<br><b>Who does the fitout belong to?</b> Lessee owns it<br><b>How long has the tenant been operating in this property?</b> Since 2014<br><b>Why is the owner selling?</b> To fund a business opportunity<br><b>Is the tenant related to the owner in any way?</b> No<br><b>Has the tenant been paying rent on time?</b> Yes<br><b>Are you aware of any significant defects that may come up in the building inspection?</b> No<br>
