Barwon boosts disability accommodation portfolio

Artist’s impression of the complex replacing Dandenong’s Holy Trinity Lutheran Church.

Barwon Investment Partners has bought three assets for its Disability Accommodation Fund.

Barwon bought 11 villa units and houses in Western Australia.

In Melbourne’s Dandenong, and in Western Australia, at Bunbury at Geraldton, the fully leased Specialist Disability Accommodation-approved properties are setting the group back a total of $31.25 million.

All up, they house 41 people, in central locations close to transport and essential services amenity.

“These acquisitions are strategically located within close proximity to public transport and major amenities and aligned with the fund’s core mission of promoting choice, control and inclusivity for individuals with disabilities,” a company spokesperson said.

Last year, for the fund, the group acquired 10 apartments in Sydney’s Ryde and four units in Arana Hills, about 13 kilometres north west of Brisbane – both with pass through leases.

BDAF unitholders banked a net return of 7-7.5 per cent and a distribution yield of 4.5pc last financial year.

New Dandenong facility

The Dandenong property – 28 Pickett St – is being developed on a 2058 square metre site owned before 2016 by the Lutherans, once accommodating the Holy Trinity church.

With two buildings, it contains 15 two bedroom apartments, backed by a 15 year head lease (story continues below).

“The lease arrangement reinforces the resilience and stability of the investment with a positive investor outlook contributing to a more inclusive society, aligning financial goals with impactful outcomes,” a buyer spokesperson said. Smorgon Gutman Group is the vendor.

Two WA assets

In Western Australia meanwhile, Barwon has secured 11 strata titled SDA approved house and villas, all up offering 26 places.

Both properties are backed by 10 year leases with CPI-backed reviews.

They are also triple net, meaning the tenant pays all outgoings and maintenance.

“These…additions to the Barwon Disability Accommodation Fund’s portfolio are a testament to our commitment to delivering attractive investment opportunities,” Barwon head of Healthcare Property, Tom Patrick, said.

“Investors now have the chance to benefit from secure returns while making a tangible positive impact on society,” he added.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of