Health fund RT Health has secured two levels of an office building at Level 1 and Level 2, 491 – 493 Elizabeth St, Surry Hills, Sydney for two years to accommodate a new project. The fund has leased approximately 476 sqm near its Buckingham Street, Surry Hills, headquarters from landlord Brian Adams. Both levels are fitted and furnished and the five-storey building also has a penthouse. Ray White’s John Skufris struck the deal at a gross annual rent of $210,000.
February 15, 2017
An aged-care bedding business paid $1.4million after auction for a Clayton industrial property that will provide a self-managed superannuation fund a leaseback investment. The 13 Graham Rd property, formerly occupied by Elite Surface Technologies, is a 1524sq m office and warehouse facility on a 2191sq m site. Selling agency Savills said the modern premises was close to major arterials.
April 15, 2016
The Australian Unity Healthcare Property Trust has acquired a medical office building at 15 Butterfield Street Herston, Brisbane for $81.47 million from BRW Richlister Clive Berghofer. The property, opposite the Royal Brisbane and Women’s Hospital has a lettable area of 11,253 square metres and is 98 per cent occupied by Queensland Health. CBRE’s Mike Walks and Peter Court negotiated the deal. Chris Smith, head of healthcare and retirement property fund at Australian Unity Real Estate Investment, said the acquisition enhances the fund’s geographic, property and tenant diversification.
February 26, 2016
A huge block of land in Joslin, worth more than $5 million, is on the market. Drug and Alcohol Services SA (DASSA), which has run treatment programs and stores clinical records at the 5600sq m site since 1968, is moving its operations to Stepney. Government agency Renewal SA has asked for expressions of interest to buy the block which spans 90-92 Fifth Ave and 80 Fourth Ave. Harcourts Magill sales consultant Alexander Zadow said such a large block in the up-market suburb could fetch more than $5 million. Mr Zadow said the site would be best suited for use as a retirement village.
February 19, 2016
Expressions of interest are being sought from registered retirement village operations, in 29 independent living units in Newcastle which are being sold by a government instrumentality.
February 8, 2016
Box Hill North’s Ekera medical facility is selling for a speculated price of more than $25 million. The A-grade complex rising four levels from 116-118 Thames Street, on the north-west corner of Nelson Road, opposite the Box Hill Hospital and Box Hill Gardens, provides access to numerous primary and sub-acute health related facilities. Based on the asset’s annual return of $1.73 million, the building known as Ekera Box Hill is said to be exchanging on a yield of less than 7 per cent. Colliers International’s Shane Nicholson was the marketing agent.
November 27, 2015
Private hospital group Healthscope has acquired the 83-bed Hunter Valley Private Hospital in New South Wales for $71.3 million. Healthscope, the nation’s second-biggest private hospital operator, said on Thursday that it would pay for the Shortland, NSW, site with a mix of cash and shares. The company has issued almost 3 million shares at a price of $2.72 a share, worth $8.2 million, to fund the acquisition. The $63.1 million balance will be paid in cash. Hunter Valley Private Hospital was founded in 1965 and has expanded during the past 10 years, Healthscope said. After the acquisition, Healthscope will operate 46 hospitals throughout Australia. It is Healthscope’s first hospital acquisition since returning to the Australian Securities Exchange in an initial public offering that allowed private equity owners TPG and The Carlyle Group to partially exit. Since the July 2014 float Healthscope shares have gained 35 per cent.
November 27, 2015
Sydney-based Barwon Property Funds Management is paying $9.7 million for a near-new medical facility in Croydon, about 27 kilometres east of town. The Healthscope Medical Centre at 24-26 Doreset Road is a purpose-built 1623-square-metre hospital on a 3002-square-metre block with 55 car parks. Returning annual rent of around $737,000, with fixed rental increases, the investment also offered substantial depreciation allowances.
