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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.

Bendigo, Victoria Commercial Property Map
Bendigo, Victorian Commercial Property Image
Bendigo, Victorian Commercial Property Image
Bendigo, Victorian Commercial Property Image
Bendigo, Victorian Commercial Property Image
Bendigo, Victorian Commercial Property Image
Bendigo, Victorian Commercial Property Image
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