Hampton banks $14.5m from essential services investment

The mixed-use building contains a cafe, pharmacy and childcare centre.

Hampton Property Group – which develops east coast medical centres – has sold one of its newest projects for $14.5 million.

The mixed-use building at 279B Marius Street, Tamworth, is trading to Clarence Property.

Over three levels it contains corporate grade suites and a pharmacy; nine healthcare users – including a dietician, pathologist, radiologist and psychologist – contribute to 65 per cent of its income.

The balance of the property is configured with a 41-place childcare centre leased to Little Kindy.

Also with a cafe, the asset contains a large outdoor car park and underground bays (story continues below).

The Weighted Average Lease Expiry is nine years.

The Sydney fund manager completed the property, known as the East Tamworth Medical Centre, in 2019 – three years after securing the vacant block for $1.4m.

Tamworth is a c410 kilometre drive north of Sydney.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.