New Brisbane medical centre fetches $8.1m
Limbada Group has snapped up a new Hendra medical centre.
On 1953 square metres at 1-3 Zillman Road, the investment is costing $8.125 million, reflecting a 4.79 per cent yield.
With 733 sqm, the Weighted Average Lease Expiry is 11 years.
Medicross Medical and physiotherapist Kieser Training are the tenants; with options they can stay until 2042 and 2044 respectively.
Stillmark Holdings also contributes to the rent for a Telstra communications tower.
There are also 25 car parks.
Hendra Medical & Wellness Centre
Known as the Hendra Medical & Wellness Centre, 1-3 Zillman Rd is opposite the suburb’s train station, near Eagle Farm Racecourse.
It is also passed by about 25,000 cars a day, Colliers’ Chris O’Driscoll, who marketed the property with Harry Dever, said (story continues below).
“Demand for healthcare property continues t perform strongly given the recession proof nature the sector emits and the long-term benefits to catchments that such centres deliver with the longevity of tenants,” according to the executive.
“Colliers was able to provide end-to-end solutions for our client from acquisition, project leasing and divestment,” Mr Dever added.
The Hendra medical centre opened in September.
New South Wales based Vauxhall was the developer and seller.
Limbada is headquartered in Brisbane.
Hendra is seven kilometres north east of the CBD.
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