165-169 Elphin Road
Newstead TAS 7250
Contact Agent
Diversified Healthcare Investment
Elders Commercial is delighted to present for sale 165a & 165–169 Elphin Road, Newstead - a fully leased, purpose-built medical centre anchored by Northern Tasmania’s largest general practice and associated allied health providers.The property is for sale via Expression of Interest closing 30 October 2025 at 4pm.
Key Investment Highlights Include:
• Net passing income of $486,188* + GST with head leases to 3 major tenants, along with a lease agreement with the Launceston City Council for public toilets.
• Weighted average lease expiry of 7.52* years as of October 2025.
• The building has undergone significant refurbishment in 2012 & 2020 along with a recent extension completed in early to mid-2025, resulting in depreciation benefits for prospective investors.
• Strong lease covenants, anchored by the largest GP and urgent care provider in Northern Tasmania, with supporting tenancies including a pharmacy and independently leased radiology clinic. The income is also underpinned by sub-tenants: Sonic Heath and Australia Post.
• The Medical Centre is on a freshly inked 10-year lease, providing strong security for the investment. The Medical Centre and Pharmacy have also both been operational for over 50 years in the building with no vacancy.
• The whole building encompasses a gross building area of 2,335sqm* over two levels and is situated on a 3,029sqm* parcel of land including 56 on-title car parks.
• The location of the property is supported by the adjoining Coles Supermarket on the northern boundary, exposure to Newstead’s main arterial Elphin Road and a number of surrounding local and national businesses.
• Newstead is considered to be one of Launceston’s most affluent suburbs with a number of renowned private schools and a median house price edging towards $700,000*.
• The Medical Centre acts as a pivotal establishment for the local community assisting Tasmania’s aging population. The essential nature of the property showcases the incredible opportunity for investors to purchase a ‘blue-chip’ assets.
• The site is considered to be land rich with the current improvements covering just 57% of the title. This provides scope for further development over the car park area.
Please contact Fletcher Seymour or David Webster for more information or to arrange an inspection.
Features
General Features
- Commercial Type: Medical/Consulting
- Building Area: 2,335sqm
- Zoning: Local Business
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