 Asset Class: | Medical |
 Price: | $ 2528000 |
 Net Yield: | 5.30 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
84 Shipsters Road, Kensington Park, presents a rare opportunity to acquire a freehold medical asset with significant potential for future growth. This dual-tenanted property, situated just 4km east of the Adelaide CBD, features a 524sqm site with 298sqm of net leasable area. The property offers zero stamp duty savings of approximately $115,000 and stands 10-15% under-rented, with the potential to increase the yield to 6% and unlock a capital uplift of around $320,000. The prestigious suburb of Kensington Park boasts a median house price of $1.66 million, highlighting its high-demand location. The property benefits from dual street frontages, four onsite car parks, and additional street parking. The long WALE of 4.64 years ensures stability, while the medical practice tenants—Kensington Park Medical Practice and Clinpath Pathology—serve a diverse and growing patient base. The property’s premium medical facilities, including nine onsite doctors and a physiotherapist, provide excellent long-term flexibility.
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Kensington Park is a premier suburb in Adelaide’s eastern region, renowned for its blend of heritage charm, modern amenities, and strong community appeal. Situated within the City of Burnside and bordered by key transport routes like Magill Road and Kensington Road, it offers both prestige and convenience.<br><br>As a highly sought-after location, Kensington Park presents a rare investment opportunity, particularly for medical assets, with vacancy rates exceptionally low. Anchored by landmarks like the Regal Theatre and Pembroke School, the suburb attracts families, professionals, and businesses alike. With its close proximity to the Adelaide CBD, Kensington Park combines stability, high demand, and long-term growth potential—making it an ideal choice for astute investors.<br><br>Located in the established and sought-after suburb of Kensington Park<br>- East of Adelaide CBD 4km*<br>- Marryatville Hotel 28m*<br>- Marryatville Shopping Centre 350m*<br>- Kensington Oval 1km*<br><span style="color:rgb(51, 51, 51);">- </span>Marryatville Shopping Centre <br>- Burnside Hospital 1.5km*<br>- The Parade, Norwood 1.5km*<br>- Burnside Village Shopping Centre 2km*<br>- Penbroke School 700m*
Additional Location Information File<b>Kensington Park Medical Practice</b><br><br>Kensington Park Medical Practice, part of Australian Family Care, is a comprehensive healthcare facility located at 84 Shipsters Road, Kensington Park, SA 5068. The practice offers a wide range of services, including general practice with a significant focus on infant and maternal well-being, day surgery procedures, and specialized men's and women's health services. Allied health services, such as psychology, are also available to provide holistic patient care. With a large depth of 9 doctors on site and 1 physiotherapist, this clinic caters to all.<br><br><span style="color:rgb(51, 51, 51);">Appointments can be booked by phone or online through the practice's website. The practice is committed to providing high-quality healthcare services to the Kensington Park community and surrounding areas. Patients have praised the practice for its cleanliness, helpful reception staff, and professional doctors, contributing to a positive and welcoming atmosphere. The facility is equipped with amenities such as free parking, toilet facilities, and a baby change area, ensuring convenience for all patients. </span><br><br><span style="color:rgb(51, 51, 51);">Kensington Park Medical Practice is a private billing practice, with bulk-billing services available for patients under 16 years of age. The practice also offers day surgery services, including vasectomy, circumcision, and skin lesion excision, providing patients with specialized surgical care in a familiar environment.</span><br><br><span style="color:rgb(51, 51, 51);">With a dedicated team of experienced healthcare professionals and a comprehensive range of services, Kensington Park Medical Practice strives to meet the diverse healthcare needs of the community, ensuring patients receive personalized and effective medical care.</span><br><br><br><span style="color:rgb(51, 51, 51);"><b>Sonic Healthcare (Clinpath)</b></span><br><br>Clinpath Pathology, a subsidiary of Sonic Healthcare, operates a collection centre in Kensington, South Australia. Sonic Healthcare is a global company employing 37,000 employees with 2024 financial year reporting circa $9 billion in revenue.<br><br>Clinpath Pathology is committed to providing high-quality pathology services to the Kensington community and surrounding areas. As part of Sonic Healthcare, a leading global healthcare provider, Clinpath ensures accurate and timely diagnostic services.<br>
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Subject property: 84 Shipsters Road, Kensington Park - 298sqm - $450/sqm 1290 Grand Junction Road Hope Valley - 436sqm - $596/sqm 8/1 Zwerner Drive, Hallett Cove - 685sqm - $448/sqm 2/35 Woodville Road, Woodville South - 421sqm - $658/sqm 14 Anderson Walk Smithfield - 496sqm - $553/sqm 6 Watson Avenue, Rose Park - 180/sqm - $639/sqm 1 Park Terrace, Sailsbury South - 746sqm - $563/sqm 330-338 Seaview Road, Henley Beach - 162sqm - $620/sqm 206-208 Portrush Road Trinity Garden - 874sqm - $448/sqm
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Negotiated Price: $2,528,000<br>Net Yield: 5.3%<br>True Net Yield: 5.65% (Zero Stamp Duty saving circa $115,000)<br>November Increase: 5.72%<br>Value add: circa 10-15% under rented ($16,875 rent pa and $320,000 equity increase)<br><br><b>To note: there is a 7.32% increase in November for the Clinpath tenant instead of CPI. This will increase the net yield to 5.72% by Novemeber (Incl. zero stamp duty).</b><br><br>Site Area: 524sqm<br><br>NLA: 298sqm <br><br>Rare freehold medical <br><br>Zero Stamp Duty saving circa $115,000<br><br>Future uplift as the property sits circa 10-15% under rented. Once implemented yield would increase to circa 6% with circa $320,000 captial uplift.<br><br>Dual Tenanted <br><br>Dual Street Frontages<br><br>Sensational location, only 4km East of Adelaide CBD<br><br><span style="color:rgb(51, 51, 51);">Situated amongst complementary medical, commercial and retail uses</span><br><br>Prestigous suburb of Kensington Park (Median House Price $1,660,000 vs Adelaide Median House Price $866,000) (Think tennis courts in backyards being common)<br><br>4 onsite car parks with additional street parking (plenty of free parking around property)<br><br>Long WALE of 4.64 years<br><br>Kensington Park Medical Practice provides general practice services with a major focus on infant and maternal wellbeing, as well as day surgery services, specialised men’s and women’s health services and psychology. <br><br>Kensington Park Medical has just signed a brand new 5 year lease with 2 x 5 year options<br><br>Very well equippt medical practice with 9 on site doctors and 1 pathologist<br><br>Clinpath Pathology is also provided for at the practice (a subsidiary to a global company with 37,000 employees)<br><br>The medical practice provides an attractive configuration with waiting room at the front of the building with consulting rooms along a main corridor, providing long term flexibility
