SOLD
Sold on 06 Dec 2023 for $1,810,000

34-36 Bridge Street
Bendigo VIC 3550

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 789m2
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Property Details for 34-36 Bridge St, Bendigo

Building Type
Commercial
Land Size
789m2
Local Government
Greater Bendigo
Lot/Plan
1/LP26108

Last Listing description (November 2023)

Burgess Rawson is pleased to offer to market 'Healius Pathology' located at 34-36 Bridge Street, Bendigo VIC, for sale via Auction Investment Portfolio 165.

The property has the following key investment highlights:

+ Five (5) year net lease to 'Healius Pathology' to 2027.

+ Healius Ltd (ASX:HLS): Market cap ($1.05B) and one of Australia's largest diagnostic and day hospital providers, servicing more than 15 million patients annually. 1
+ Fixed 3% annual rent increases, ensuring compounding rental growth.
+ Key collection and pathology testing centre for the greater Bendigo Region with Dorevitch being on site for over 26 years.
+ Attractive net lease with tenant paying all usual outgoings.
+ Well-maintained 419sqm* pathology laboratory with rear laneway access and on-site car parking spaces for specialised collection vehicles.
+ Strategic 789sqm* main road site adjoining complimentary Dorevitch Pathology clinical laboratory and service centre, plus exposure to 17,000+ passing vehicles daily.
+ Situated amongst key medical precinct 300 metres from the $1.1 billion Bendigo Health, employing more than 5,000 staff, treating more than 49,000 inpatients and complemented by an integrated cancer centre. 2
+ Convenient central location amongst Bendigo CBD, 675 metres from Myer, 720 metres from Officeworks, 800 metres from Coles, and within close proximity from the Woolworths and Big W-anchored Bendigo Marketplace.
+ Bendigo: Booming residential growth location with a 37% increase in median house prices since June 2020.3
+ City of Greater Bendigo: Victoria's largest inland city with population forecast to grow to over 155,000 by 20362 and currently generates $18.6 billion in annual economic output with an estimated 55,242 jobs in the area.4
+ Potential 50% stamp duty savings.
+ Net Income: $108,813* pa + GST

For Sale by Investment Portfolio Auction
10:30am AEDT Wednesday 6 December 2023
Crown Casino, Melbourne

*Approx.
1 Healius Pathology
2 Bendigo Health
3 ***
4 ForecastID

Property History for 34-36 Bridge St, Bendigo, VIC 3550

A timeline of how this property has performed in the market
Last Sold
$1,810,000
06 Dec 2023
  • 06 Dec 2023
    Sold for $1,810,000
  • 03 Nov 2023
    Listed for Sale Price on Request
  • 30 Jun 1997
    Sold for $390,000
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About Bendigo 3550

The size of Bendigo is approximately 5.5 square kilometres. It has 8 parks covering nearly 8.8% of total area. The population of Bendigo in 2011 was 5,774 people. By 2016 the population was 5,534 showing a population decline of 4.2% in the area during that time. The predominant age group in Bendigo is 20-29 years. Households in Bendigo are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Bendigo work in a professional occupation. In 2011, 54% of the homes in Bendigo were owner-occupied compared with 53.7% in 2016.

Bendigo has 5,106 properties. Over the last 5 years, Houses in Bendigo have seen a 38.78% increase in median value, while Units have seen a 66.42% increase. As at 30 September 2024:

  • The median value for Houses in Bendigo is $550,901 while the median value for Units is $427,929.
  • Houses have a median rent of $460 while Units have a median rent of $435.
There are currently 43 properties listed for sale, and 11 properties listed for rent in Bendigo on OnTheHouse. According to CoreLogic's data, 162 properties were sold in the past 12 months in Bendigo.

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.