Sandhurst Medical Practice
Bendigo, Victoria
PURCHASE DATE
September 2025
ADDRESS
84 Mollison Street, Bendigo, Victoria
LAND AREA
2,038sqm
NLA
2,358 sqm
OCCUPANCY
87% (The vendor will provide a 36-month rental guarantee on the vacancy)
KEY TENANTS
IPN
Asset Highlights
- Blue-Chip Tenancy Profile: The Sandhurst Medical Centre is anchored (44%) by IPN, a premium national medical operator with the backing of global healthcare leader, Sonic Healthcare (ASX:SHL)
- Diversified income streams: The asset generates diversified income through a mix of medical specialties including general practice, cardiology, specialist consulting, and allied health
- Thriving Regional Location: The property is located in the major Victorian regional town centre of Bendigo, some 130km northwest of Melbourne. The City of Greater Bendigo has a population of approximately 125,000 people which is expected to grow to 172,000 by 2046 (Forecast.id)
- Demand-Driven Demographics: With a median age of 43 and over one-fifth of residents aged 65+, Bendigo shows strong potential demand for healthcare services
- Workforce anchored by Healthcare: The healthcare sector is a significant employer in Bendigo, with Hospitals being the top industry of employment at 7.0% of the workforce, compared to 4.6% for Victoria overall
- Yield Opportunity: The attractive initial yield is above the long-term average of 6.00% (JLL)
- Significant Discount to Replacement Cost: The purchase price represents a significant ~20% discount to replacement cost given the current nature of the construction market and land constraints
Property Location
Located 130km northwest of Melbourne, Bendigo is Victoria’s fourth most populous city and a key regional hub with a population of 125,000. The property is located immediately beside the Bendigo CBD and benefits from a strong residential catchment demand and proximity to the 735-bed Bendigo Health Hospital.
