233 Lester Avenue, Geraldton, WA 6530 | Commercial for sale | OnTheHouse
 
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233 Lester Avenue
Geraldton WA 6530

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Floor area: 1879m2
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Panaceum Medical Centre - outstanding, secure investment opportunity

RWC WA as Exclusive Selling Agents are delighted to offer to the market Panaceum Medical Centre for sale.
Healthcare real estate has evolved into a major emerging asset class with institutional appeal underpinned by its non-cyclical income stream, increasing demand supported by a higher life expectancy and an ageing population in Australia. Additionally, significant government investment and the growth of the Private Health Insurance sector has boosted healthcare expenditure to new heights.
Salient details:
Panaceum Medical Centre - 233 Lester Avenue and 41 Fitzgerald Street, Geraldton Western Australia
Panaceum Medical Centre presents a rare opportunity to secure a strongly performing medical centre with a net rental profile and long-term tenant lead options. Strategically located nearby to substantial local amenity including Geraldton beach, Nagle Catholic College and Stirlings Central Shopping Centre. The specialist medical centre is underpinned by 16 doctors and offers ancillary services including pathology, pharmacy, pediatrics, physiotherapy, podiatry, psychology, physical rehabilitation and industrial healthcare.
• Multidisciplinary healthcare team
• Situated on a substantial 6,035m²* land area with two street frontages and 84* car bays
• Fully leased medical centre with WALE by Area of 7.59 years
• Two stand alone adjacent buildings with a total NLA of 1,879m²*
• Leased to Panaceum Medical Group, serving Geraldton since 1952
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Property Details for 233 Lester Ave, Geraldton

Building Type
Commercial
Floor Size
1879m2
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About Geraldton 6530

The size of Geraldton is approximately 4.5 square kilometres. It has 6 parks covering nearly 2.4% of total area. The population of Geraldton in 2016 was 3148 people. By 2021 the population was 3246 showing a population growth of 3.1% in the area during that time. The predominant age group in Geraldton is 50-59 years. Households in Geraldton are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Geraldton work in a professional occupation.In 2021, 52.20% of the homes in Geraldton were owner-occupied compared with 48.90% in 2016.

Geraldton has 2,415 properties. Over the last 5 years, Houses in Geraldton have seen a 145.44% increase in median value, while Units have seen a 95.17% increase. As at 31 October 2025:

  • The median value for Houses in Geraldton is $489,411 while the median value for Units is $364,994.
  • Houses have a median rent of $485 while Units have a median rent of $405.
There are currently 11 properties listed for sale, and 5 properties listed for rent in Geraldton on OnTheHouse. According to Cotality's data, 211 properties were sold in the past 12 months in Geraldton.

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Andrew Woodley-Page
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Brett Wilkins
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