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331 Princes Highway has been tenanted for over 11 years and it's easy to see why; this is a medical centre right next to, and leased by the South Eastern Hospital currently operating as a Melbourne Pathology collection centre. The property is also located just metres from Eastlink and benefits from service road access and adjacent hospital parking.
The current three year lease expires in May 2026, with a market review to start the final 3 year option. Given the size and location of the property, we anticipate rental upside, not to mention the prospect of higher returns with some strategic capital improvement.
The opportunity features:
• 612m2* of land
• 173m2* building area
• Current rent $74,220 + GST
• Tenant pays usual outgoings
• 6 consulting rooms, reception, staff room, amenities, etc.
• General Residential Zone (GRZ1)
• Tenanted since 2014 by Healthe Care South Eastern with sublease to Melbourne Pathology
• 3 year lease to 31/05/2026
• Market review May 2026 to commence final 3 year option
• Annual CPI increases
• 7 car spaces
• Bordering South Eastern Hospital + carpark
• 3.5km from Dandenong Hospital
Auction 12pm Thursday November 27th on site
Contact Dillon Chambers 0422 909 456 or Ryan Trickey 0400 380 438 for further information or to arrange an inspection.
Remember to mention you found this property on CommercialReady
331 Princes Highway has been tenanted for over 11 years and it's easy to see why; this is a medical centre right next to, and leased by the South Eastern Hospital currently operating as a Melbourne Pathology collection centre. The property is also located just metres from Eastlink and benefits from service road access and adjacent hospital parking.
The current three year lease expires in May 2026, with a market review to start the final 3 year option. Given the size and location of the property, we anticipate rental upside, not to mention the prospect of higher returns with some strategic capital improvement.
The opportunity features:
• 612m2* of land
• 173m2* building area
• Current rent $74,220 + GST
• Tenant pays usual outgoings
• 6 consulting rooms, reception, staff room, amenities, etc.
• General Residential Zone (GRZ1)
• Tenanted since 2014 by Healthe Care South Eastern with sublease to Melbourne Pathology
• 3 year lease to 31/05/2026
• Market review May 2026 to commence final 3 year option
• Annual CPI increases
• 7 car spaces
• Bordering South Eastern Hospital + carpark
• 3.5km from Dandenong Hospital
Auction 12pm Thursday November 27th on site
Contact Dillon Chambers 0422 909 456 or Ryan Trickey 0400 380 438 for further information or to arrange an inspection.
Remember to mention you found this property on CommercialReady
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