Brisbane medical centre fetches $4.6m

An interstate investor has swooped on a small medical and retail centre in Brisbane’s south west Springfield.

The single storey complex, offered with a 10 year lease to For Health, collected $4.55 million – a 6.26 per cent fully let net passing yield.

“The wider Springfield growth corridor is home to 145,000 people and is expected to continue to grow rapidly to almost 200,000 by 2026,” Colliers’ Chris O’Driscoll, who marketed the asset with Harry Dever, said.

That number should rise to 435,000 by 2041, he added (story continues below).

“Future development of retail, healthcare and commercial will be required to support the ongoing need of essential service related businesses to sustain the growth within the region,” according to the executive.

The buyer was represented by Rethink Investing.

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Marc Pallisco

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