Brisbane investor snares Newcastle hospital
Northwest Healthcare has sold the Toronto Private Hospital, south west of Newcastle, to Axon Capital.
The three level, 105 bed facility at 241A Excelsior Parade is trading to the Brisbane based private investment house for an as yet undisclosed price.
With 5173 square metres, the centre specialises in palliative care, mental health, general medical and rehabilitation services, with a gym and hydrotherapy pool.
Developed in 1988 and recently refurbished, there are also offices and staff rooms.
The site spreads 7250 sqm with 71 car parks.
Customers can also access 30 bays at the front of a neighbouring building (story continues below).
Tenant, Aurora Health, is on a lease expiring in 18 years.
JLL’s Simon Quinn and Thomas Thorsen were the agents; Toronto is about 25 km from Newcastle’s CBD.
Axon, which announced the purchase last week, will hold a portfolio of healthcare and special situations product. It considers investing nationally.
It also has a real estate credit arm.
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