115A Mentone Pde 4,758 SF Office Building Mentone, VIC 3194 For Sale

This ASX-backed medical investment offers long-term security and a premium location in Melbourne’s bayside suburb of Mentone. Positioned within the heart of the Mentone CBD, the property is anchored by Myhealth, one of Australia’s leading GP-led medical groups, operating across 106 locations with the backing of Medibank (ASX:MPL), the nation's largest private health insurer.
A 10-year net lease is in place through November 2030, complemented by two 5-year options extending potential tenure to 2040. Fixed annual rent increases of 3.5% provide consistent income growth, while tenant responsibility for standard outgoings further enhances returns. The property underwent a $565,000 refurbishment in 2020, ensuring modern facilities and operational efficiency.
Occupying a 493 m² landholding with rear access to a 150-space public car park and five on-site bays, this asset benefits from both accessibility and high user convenience. Its strategic location just 85 meters from Mentone Railway Station and immediate proximity to national retailers—including Coles, Woolworths, and Chemist Warehouse—provides exceptional visibility and pedestrian exposure. Serving an established and affluent catchment, Mentone is a prominent employment hub only 21 km from the Melbourne CBD, with strong demographics and sustained population demand.