8-10 Myers Street
Geelong, VIC 3220

This property at 8-10 Myers Street, Geelong, represents a premium freehold investment opportunity in the heart of Geelong's central business district medical precinct. The site is strategically located close to St John of God Hospital and surrounded by a wide range of complementary healthcare providers, making it an ideal location for medical and consulting purposes.

The property is anchored by a new lease agreement with Siles Health, a well-established healthcare clinic specializing in pregnancy and obstetrics care for over 18 years. The lease term is structured as 5 + 5 + 5 years, providing long-term income security. Siles Health operates a successful healthcare group with 10 locations across Victoria, underscoring the stability and reputation of the tenant.

The investment returns a net income of approximately $120,000 per annum with fixed annual increases, offering a reliable income stream. The landholding is substantial, comprising 694 square meters, which includes the site area and separate car parking facilities at the rear. The property features an expansive street frontage of 19.45 meters, enhancing its visibility and accessibility.

The building itself is a well-presented medical facility with a floor area of 225 square meters, designed to meet the needs of healthcare providers. The site is zoned within a high-density Activity Centre Zone, which offers a variety of potential future development opportunities, subject to council approval (STCA).

Surrounding the property are significant traffic generators including the headquarters of the Transport Accident Commission (TAC), National Disability Insurance Scheme (NDIS), and WorkSafe, as well as Deakin University and the Geelong Train Station. This ensures a steady flow of potential clients and visitors to the area.

The location is also within walking distance to key local amenities such as GMHBA Stadium, the newly developed $140 million Arts Centre, and the Geelong Gallery, which is planned for a $150 million redevelopment. These cultural and recreational facilities contribute to the vibrancy and attractiveness of the precinct.

Greater Geelong is recognized as one of Australia's fastest growing regions, with a population forecast to increase by 28.7% between 2024 and 2034. This growth trajectory presents significant upside potential for investors seeking long-term capital appreciation alongside stable rental income.

Overall, 8-10 Myers Street offers a unique opportunity to acquire a high-quality commercial freehold property with a secure tenant, substantial landholding, and excellent future development prospects in a thriving regional centre.