Residential investment Property to Medical Practice?

Residential investment Property to Medical Centre?

Hello!

I have a residential investment property in Pakenham very close to the station about 900m.

Having lived in the area before I always struggled to find medical practioner and have seen a trend of residential properties being converted to medical centres.

I was thinking to convert my 3 bedroom house which is on 800 Sqm block into a medical centre and really with a view to --

- Provide a facility in the area
- Hoping commercial leasing is more profitable? I am not too sure !

I really dont have any experience and this is just a curiousity. I was wondering if you had any experiences to share to help guide me?

Many thanks!

 

Tip #1: Unless your question is "when will this property bubble pop?", don't ask questions on Whirlpool

 

May be my question is just another way of asking it?

 

You think converting it to commercial is a way to hedge the market? I suppose it might be. Doctors will never not be in a job!

 

I have a descent house sitting on a big block in middle of a hugley in demand residential area. I could develop the block and make it two residential properties or convert it to commercial. However I have no experience in running/managing or even leasing a medical practice. Now do you have anything to share on the Q?

 

No sorry. The only pointless bit of wisdom I had to contribute was to avoid Whirlpool lol

 

Have you checked the zoning? What is permissible?
Is there a chemist and other allied services located around the property?

 

Hello, came across this chat and am curious how this conversion to commercial went. I have an IP that seems suitable for this as well (family oriented area, corner plot, busy road) and would really like to research more on this idea. Thanks a lot!