A high-performing, state-of-the-art healthcare investment occupied by Bupa’s Dental Corporation and in a thriving suburban Melbourne location has hit the market.

Fitzroys’ Chris Kombi, Lewis Waddell and Ben Liu are marketing 150 & 152 Canterbury Road, Blackburn on behalf of a private investor who has held the property for more than 15 years.

The Expressions of Interest campaign closes on Thursday, 22nd October at 3pm.

Expectations are of $5.8 million-plus.

The property comprises 2 interconnected, fully renovated state-of-the-art buildings plus 22 on-site car parks on a 1,575sqm corner site with a commanding 75m frontage.

It has a secure lease to Bupa’s Dental Corporation and operates as longstanding and highly successful dental clinic trading as Healthy Smiles Dental Group, permitted for 12 practitioners.

“Investors looking for a set-and-forget investment need look no further. A secure lease to a major global tenant in Bupa, a triple-net lease with strong annual rental increases, state-of-the-art improvements, and a large corner landholding in a thriving suburban Melbourne commercial precinct all provide excellent fundamentals,” Waddell said.

“Bupa spent around $2.2 million upgrading the building, so they’re clearly invested in this location for the long-term.

“Healthcare assets have this decade consolidated their standing as one of the most reliable defensive property investment plays. Underlying demand for healthcare services is constantly growing, and the property’s excellent tenancy profile and real estate fundamentals makes this a stand-out in the current market.”