MA Financial sells Adelaide medical centre, office
MA Financial has divested a north Adelaide health hub acquired with its buyout of Ascot Capital Limited assets three years ago.
The Northern Community Mental Health Centre at 7-9 Park Terrace, Salisbury, found favour with a local private investor for $13 million – a 6.8 per cent yield.
Ascott paid $11.4m – a 6.23pc return – settling in February the next year.
MA outlaid $15m with its purchase, in November, 2021. Other assets offered by Ascot as part of the c$800m portfolio were bought by GPT.
Near acre block
The state government backed tenant is on an agreement for 7-9 Park Tce expiring 2027 with two five year options (story continues below).
Over two floors, the building contains 1929 square metres. The 3881 sqm Urban Activity Centre zoned block also has 91 car parks.
“Underpinning the value of the asset was the lease….for use as the Northern Community Mental Health Centre,” Leedwell’s Jamie Guerra and Andrew Zammit, who brokered the deal with Cushman & Wakefield’s Guy Bennett and Jed Harley.
Salisbury is about 20 kilometres from the CBD.
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