This article is from the Australian Property Journal archive
THE Australian Unity Healthcare Property Trust has purchased two medical properties in Robina, Queensland for $30 million, bringing its total investment in the area’s health hub to $64 million.
HPT acquired the Campus Alpha building at 2 Investigator Drive from developer Robina Group for $26.225 million on a yield of 7.7%.
The fully occupied building has a lettable area of 4,404 sqm and an initial net property income of $2.02 million per annum. It was developed as a medical and government services office building and is over three levels. It has 142 spaces for parking on the ground and basement levels.
Additionally, HPT bought an adjacent 3,164 sqm site at 34 Investigator Drive for $3.77 million.
Head of healthcare property Chris Smith said the new acquisitions follow the purchase of neighbouring land at Lot 1, Campus Crescent Robina in April for $3.92 million from Robina Group, and is in addition to HPT’s ownership of the Robina Private Hospital which is undergoing a $30 million development scheduled for completion in September 2016.
“The healthcare precinct at Robina, currently anchored by the Robina Hospital and Queensland Health’s Robina Health Precinct, is a premium, emerging location on the Gold Coast for health related investment.
“Robina is a fast-growing suburb in the Gold Coast region of Queensland, with a population of more than 600,000,” he said.
Smith added that as the demand for healthcare services increases in line with Australia’s rapidly ageing population, Australian Unity has prioritised expanding, improving and upgrading the HPT’s existing hospitals and medical centres to meet this demand.
Robina Group director Tony Tippett said HPT’s $64 million investment in Robina was a sign of confidence and one that would generate national awareness of the fast-growing health and medical hub.
“Robina has become a premier health precinct for not only Gold Coast City but South East Queensland and the eastern seaboard, with significant investment from both the public and private sectors in recent years,” he added.
Tippett said HPT’s stake adds to the more than $1 billion in investment already underway in Robina across new commercial, retail and residential development and public infrastructure, required to meet high demand.
Australian Property Journal
