Brisbane medical centre fetches $12.4m
Centuria has sold a south Brisbane medical centre bought new eight years ago.
The Yarrabilba Health Precinct, as it was marketed, at 21-31 Waldron Street, collected $12.39 million – a seven per cent net passing yield – from a private investor.
Part of a complex (2-24 Waldron St) also with a 1.7 hectare Coles anchored shopping centre sold separately in 2019 – it contains 1081 square metres over a floor.
MyHealth is the anchor.
The weighted average lease expiry is just over six years. On 2566 sqm, there are also 35 car parks.
Yarrabilba Health Precinct
Centuria acquired the asset as part of a portfolio, settling in December, 2017.
Held by Heathley Direct Medical Fund No 2, it was valued two years later at $11.8m assuming a six per cent capitalisation rate.
Lotana Property Investments Pty Ltd – a private investor – is the buyer.
“Situated within the Yarrabilba Priority Development Area, the precinct is strategically positioned to benefit from significant population growth,” JLL agents Mark Stafford, Simon Quinn and Thomas Thorsen, said.
“This transaction highlights the ongoing demand for quality healthcare assets in high-growth corridors,” they added.
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