An east coast family has purchased a medical centre in Cockburn Central from a local investor.
East coast family the Tseriotises have purchased a medical centre in Cockburn Central for $6 million from local private investors.
The property at 850 North Lake Road, occupied by Thomsons Lake Medical Centre, pharmacy, psychiatry and pathology, was purchased from entities Kaishen Pty Ltd and Femic Pty Ltd.
The asset comprises 705 square metres of lettable space on a 9,242sqm landholding, with significant development potential.
The Australian Securities and Investments Commission lists Inglewood’s Michael Kin Lee as the owner of Kaishen Pty Ltd, and South Perth’s Fet Yit Chen and Michelle Helen Sze Chin as joint shareholders of Femic Pty Ltd.
The Tseriotis family operates several IGAs in Victoria, including in Tooraq.
Knight Frank Australia’s Tony Delich and Cory Dell’Olio negotiated the sale of the property, which attracts a net income of $390,323 and net yield of 6.5 per cent.
“The site itself has 40.24 metres of frontage to North Lake Road and with the recently completed North Lake Bridge, which improves access to the Kwinana Freeway, it has high exposure to passing vehicles every day,” Mr Delich said.
“The medical centre is well-positioned in Cockburn Central, the urban hub of the City of Cockburn, and a short walk from the Cockburn Central train station and town centre.
“This growing catchment in Perth’s southern corridor boasts ongoing development as the population grows.”
