Leyton sheds Adelaide medical centre
Adelaide asset manager Leyton Properties has sold a medical centre after four years, a major renovation and a new round of tenancy agreements.
The Marion Specialist Centre at Seacome Gardens (pictured, top), south of town, collected $7.75 million – a 5.8 per cent net passing yield – from an interstate investor.
On 1736 square metres with 34 car parks at 199 Sturt Road, it contains 978 sqm over two levels, developed c1980.
Major occupiers include Australian Clinical Labs, Breast Screen SA, Better Dental and Radiology SA.
The weighted average lease expiry by income is five years.
Leyton paid $4.35m – when the WALE was 2.1 years.
Knight Frank was the marketing agency both times.
The deal comes three weeks since we reported Leyton acquired a Melrose Park industrial investment for $5.3m.
Last month meanwhile the asset manager acquired Brisbane’s Woolworths headquarters, in Eight Mile Plains and sold a quick service retail investment, in Perth.
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