Australian Unity sells Adelaide medical centre, car park
Australian Unity has sold another asset from its Healthcare Property Trust.
The group is reaping a speculated $9.65 million for 1-3 Addison Street, Pennington, 12 kilometres north west of Adelaide.
It paid One Care Medical $8.8m in 2018.
The disposal price reflects a 6.17 per cent net passing yield.
On 2493 square metres zoned Local Activity Centre, the double storey building contains 1275 sqm leased until 2033 to Family Doctor Pty Ltd, which has some 80 outlets; this property trades as a One Medical centre.
With options, the tenant can stay until 2054.
The offering also included a 50 car parks, some in a property separated from the medical centre by one holding.
CBRE’s Ned Looker, Rhyce Scott and Oliver Grivell were the agents.
The deal comes two months since we reported the AUHPT shed land around a Padstow Heights, Sydney, asset.
Also in April the fund offloaded the Hunters Hill Private Hospital.
April Group was that buyer.
In the first quarter it sold an Osborne Park, Perth, medical centre, to Charter Hall.
In planning news meanwhile, the group received Victorian government ministerial approval to co-develop a Mercure at the corner of Flemington Road and Errol Street, North Melbourne, with a 13 level hotel. Construction depends on a pre-commitment.
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