Health fund divests two small regional assets

The Albany property (outlined) was marketed to developers.

Not for profit health fund HBF has sold two more regional Western Australian retail properties after deciding to vacate.

At Albany, near the state’s southern tip, the group is banking $573,000 for 19-21 Albany Highway.

HBF recently sold 126-130 Egan Street, Kalgoorlie.

Near the north east corner of York Street, diagonally adjacent to Albany Plaza, which is anchored to Coles and Kmart, the 167 sqm building sold to the owner of a hairdressing business, who also plans to occupy.

The 657 sqm Regional Centre zoned holding was marketed for its development upside which could contain residential.

With a population of just over 40,000, Albany is 420 kilometres south east of Perth.

Bunbury deal

At Bunbury, 175km south of the Western Australian capital, HBF has divested a smaller shop – 147 sqm – at 12 Arthur St (pictured, top), near the corner of Blair, which is a major thoroughfare into the region off both the Forrest and South Western highways.

On 149 sqm near Centuria’s Centrepoint and Stirlings Central malls, this property collected $435,000 (story continues below).

The buyer, another allied health business, also intends to occupy.

Considered the economic hub of the state’s South West region, Bunbury, on the Indian Ocean, has a population of just over 30,000.

Ray White Commercial’s Michael Milne brokered both deals.

Colleagues Graham Walker co-marketed 19-21 Albany Hwy, while Mick Caddy worked on the Arthur St campaign.

Earlier this week we reported HBF offloaded a much more substantial commercial property, in Kalgoorlie, to care organisation Goldfields Individual & Family Support Association Inc, for $3m.

At 126-130 Egan St, that asset is 600km east of town.

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Marc Pallisco

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