Barwon Investment Partners acquires $8.2 million Williams Landing medical centre

Property fund, Barwon Investment Partners, has acquired a new strata medical centre in the heart of Cedar Woods’ Williams Landing.

The site at 111 Overton Road was purchased for $8.2 million.

It features 1,520 sqm of net lettable ground floor area and is fully leased to Cornerstone Health, a national medical operator.

Still under construction, the property is slated for completion in April 2019.

CBRE’s specialist healthcare team, Josh Twelftree, Sandro Peluso and Jimmy Tat, negotiated the transaction.

Mr Twelftree said, “Healthcare investment yields have recorded continued compression over the past few years and, as a result, we’re seeing strong interest translate into demand for high quality strata assets.”

“The security associated with the healthcare investment class, coupled with its tightly held nature, means buyers are being increasingly selective between freehold and strata assets."

Mr Peluso said “forecasted growth within the wider city of Wyndham has been well received by investors, who have also been surprised by the significant number of white-collar professionals re-locating to the are."

“The asset attracted multiple offers with Barwon beating out both domestic and international investors.”