Medical centre on the market

Agents overseeing the sale of the Vasse Medical Centre say the property is expected to generate strong interest from investors keen to secure healthcare facilities within the growing community.

The property at 21 Napoleon Promenade was listed for sale last week, offering a high-performing GP and pharmacy-anchored facility in the heart of Vasse Village.

“Primary care assets continue to be sought after by private high net worth investors and syndication houses who are attracted by their defensive nature and stable tenancy profiles,” Knight Frank’s Sam Biggins explained.

“Vasse Medical Centre is a bustling hub of healthcare services with a broad range of tenants, making it a one-stop destination for comprehensive health and wellness needs in the growing Vasse community,” he said.

“The modern and high-performing centre is in a prime location in the heart of Vasse, adjacent to the recently opened and highly anticipated Bunbury Farmers Market Vasse Village.

“The centre fronts the town’s central road Napoleon Promenade, benefitting from exposure to an estimated two million vehicles per year, as well as foot traffic from both locals and tourists travelling to WA’s southwest.”

Situated on a 3,155sq m site, the medical centre, which was built in 2017, has 1,557sq m of net lettable area across 11 tenancies, as well as 64 car parks.

In addition to the pharmacy and GP operator Duchess@Vasse Medical, which has been operating in Busselton since 1987, Mr Biggins said the centre boasted a complementary mix of medical occupiers including a dental clinic, psychologists, physiotherapists and podiatrists.

The property is subject to an Expressions of Interest campaign run by the Knight Frank team of Mr Biggins, Cory Dell’Olio and Tony Delich.

The property has an estimated net income of nearly $600,000 per year and a 3.12 year WALE as at 1 June, 2025.

Mr Dell’Olio said the southwest region of Western Australia was undergoing a population boom driven by the desirable lifestyle and improved connectivity.

“The expansion of Busselton Airport, which now has direct flights from Melbourne and Sydney as well as to key WA mining hubs, in combination with key road upgrades including the new Bunbury Bypass, has led to significant growth in Busselton recently,” he said.

“These upgrades have positioned Busselton and Vasse as a thriving tourism and economic hub in Western Australia’s South West.”

The Expressions of Interest campaign for the property will close at 2pm WST on Thursday, April 3.

For more information, visit www.knightfrank.com.au