{"id":553857,"date":"2026-03-21T00:21:22","date_gmt":"2026-03-21T00:21:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/553857\/"},"modified":"2026-03-21T00:21:22","modified_gmt":"2026-03-21T00:21:22","slug":"collective-buys-melbourne-growth-corridor-healthcare-investment-realestatesource","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/553857\/","title":{"rendered":"Collective buys Melbourne growth corridor healthcare investment \u2013 realestatesource"},"content":{"rendered":"

\"\"<\/a>Genesis leases a gym at the Mickleham property.<\/p>\n

EXCLUSIVE<\/p>\n

Collective Capital has bought an 18-month-old healthcare and wellness investment with development upside in Melbourne\u2019s north.<\/p>\n

\"\"<\/a>The Mickleham investment includes a swim school leased to Jump!<\/p>\n

The asset at 9\u201333 Errol Boulevard, Mickleham, with a medical centre anchored by Northside Imaging, a gym leased to Genesis, backed by Belgravia Health & Leisure Group, and a swim school, traded for $17 million.<\/p>\n

Also including offices, the 3734 square metre improvement returns $1.23m in annual net rent from eight tenants.<\/p>\n

The 2500 sqm site is zoned Urban Growth.<\/p>\n

Known as Mickleham Medical, the asset forms the final part of a mixed-use project with exposure to Donnybrook Road, completed by Peter Spargo\u2019s Spargo Group.<\/p>\n

Another component, a convenience retail investment, traded in 2019 for $7.1m<\/a>. Eight shops were sold down from 2023.<\/p>\n

CBRE\u2019s Sandro Peluso<\/a>, Marcello Caspani-Muto<\/a> and Jimmy Tat<\/a> marketed the property with Jones Real Estate\u2019s Paul Jones and Luke Peric.<\/p>\n

\u201cDemand has been driven by population growth and limited availability of comparable investments,\u201d he added.<\/p>\n

Mickleham Medical<\/p>\n

The medical centre, swim school and offices are strata titled. Zoning allows for higher-density development, with existing buildings rising to three levels.<\/p>\n

Collective Capital co-founders Nicholas Thompson and Dale O\u2019Dwyer said the acquisition was supported by healthcare demand and underlying value in the strata components.<\/p>\n

The group invests on behalf of private backers and holds a diversified portfolio (continues below).<\/p>\n

In 2022, it acquired Melbourne\u2019s former China Southern Airlines headquarters<\/a> for about $40m, and in 2020 bought a Frankston office for half that.<\/p>\n

The company also owns the former Dennis Homes headquarters at Malvern East, now partly leased to Colgate-Palmolive<\/a>, and recently completed an office in Collingwood on Peel Street.<\/p>\n

Outside Melbourne, in 2021 it acquired<\/a> a former Bunnings in Albury for $29.5m and Canberra\u2019s former Questacon administration building for $11m.<\/p>\n

Two years earlier, it bought a Cairns office from Elanor Investors Group.<\/p>\n

The Mickleham investment is about 32 kilometres from town.<\/p>\n

\u201cThe property\u2019s configuration created a compelling investment opportunity,\u201d Mr Jones said.<\/p>\n

\u201cThe substantial landholding together with the strata configuration introduced a level of optionality rarely
seen in healthcare assets of this size,\u201d he added. <\/p>\n

\u201cThat flexibility broadened the buyer universe beyond traditional healthcare investors, expanding the capital pool and reinforcing competitive tension throughout the campaign,\u201d according to the executive.<\/p>\n

\u201cAssets of this scale and quality in Melbourne\u2019s northern growth corridor remain tightly held, particularly where there is a diversified healthcare tenancy profile and scope to add value,\u201d Mr Peluso said.<\/p>\n

\u201cDemand has been driven by population growth and limited availability of comparable investments,\u201d he added.<\/p>\n

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