Construction of medical centre on prominent Albury corner under way

Construction is well under way on the Five Ways Medical Precinct on the corner of Mate Street and Union Road, which is expected to be finished by October and operational by November.

The building was initially slated for completion in March 2023 after being approved by Albury Council in December 2021

Leasing agent Scott Mann, of AW Commercial, said there had been huge progress made in recent months due to more financial commitment from future tenants.

"We're now expecting practical completion in October this year and then to be fully operational in November, prior to Christmas this year," he said.

"There's now six out of 11 units that are sold unconditionally, and then another two more under offer.

"It's shaping up pretty well, considering we're really only just getting into construction now."

Mr Mann said the building would have a mix of uses, but would predominantly feature allied health services.

"There will be podiatry, physio and dietitians. The six units that have sold are a mix of investors and owner-occupiers with those usages.

"We're certainly calling for tenant inquiries as well."

Mr Mann said there had been plenty of interest in the development of the building, which had housed Betta Electrical and discount retailer Clint's Crazy Bargains at various stages.

"I think people have been pretty eager to see it come out of the ground. It's obviously a very visible, major corner, so people of Albury-Wodonga and Lavington are keen to see it progress," he said.

"There has been a couple of delays in terms of construction itself, and that's probably more due to builder's restraints more than anything else, but it's pretty exciting for Lavington really."

Mr Mann said the commercial sales market had slowed at the start of 2024, but it had begun to change.

"There's a fair bit coming up and there's a lot of leasing activity out there, particularly in the industrial and retail sectors. I think we're in for another big year," he said.

"Vacancy rates are so low, so we haven't got a great deal of static stock to be able to lease.

"We've got more good tenants that want to be here, but we haven't got the space to put them. That certainly applies on the industrial side."