Government backed apartment complexes collect $35m
An unusual essential services investment – 11 three level apartment buildings to house workers completing the Bendigo Hospital – has sold.
The 10 year old complex at 10 Atkins Street, North Bendigo, is trading for $35 million.
Developed in 2014 it contains 96 one bedroom units and 24 two bedroom dwellings – all leased to the state government’s Bendigo Health Care Group until 2044.
Apartments range from 40-65 sqm, some with outlook over neighbouring parkland.
The 7971 sqm site is also accessed from Arnold St (story continues below).
The deal comes four months since Barwon Investment Partners, a major social infrastructure investor, outlaid $14.8m for two disability accommodation assets in Sydney.
In June meanwhile it bought an asset of this type in Brisbane’s Cannon Hill, leased to the Uniting Church of Australia Property Trust, represented by Wesley Mission – for $3.75m.
Colliers marketed the Bendigo North property for investment house Morrison.
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