Caloundra health hub attracts over 150 enquiries

THE healthcare real estate sector continues to be in high demand for investors as the fallout of the global pandemic is felt across the country, with a new integrated Health Hub selling on a tight yield of 5.39%.

The Ochre Health Hub at Caloundra was pre-sold on a 15-year lease-back for $15.3 million, with Peter Tyson and Michael Harcourt at Savills handling the off-market transaction on behalf of private Sydney-based investor. Prosper Group’s Damien Holliday acted on behalf of the buyer.

The Ochre Health Hub attracted intense buyer interest nationally, with more than 150 separate enquiries and multiple offers in a hotly contested offering,” said Peter Tyson, national director of retail investments at Savills.

The purpose-built facility in the Sunshine Coast consists of a 1,964sqm two-level integrated health hub and is 100% leased to Ochre Health on a long-term 15-year net lease in the Caloundra CBD.

“The medical and allied health sector continues to be a highly coveted asset class, which has been accelerated by increased demand for long leased real estate tenanted by essential services. New single tenant medical investments with long lease security and national tenants such as Ochre Health, a leading Australian primary healthcare provider, are rare and highly sought after by the marketplace,” said Tyson.

“Ochre Health already operated a smaller clinic in the precinct and viewed this strategic location as an opportunity to expand their medical practice and integrate with pharmacy and allied health providers and secure a state of the art facility providing a “one stop shop” for the community. The Ochre Health Hub is now the largest integrated medical centre and health hub in its catchment,” said Michael Harcourt, associate director of retail investments at Savills.

Throughout the year, healthcare assets have proved to be resilient investments in the face of the pandemic, with investors capitalising on the growing cost pressures in the healthcare system.

“The buyer was attracted to the long lease security to a quality health care provider, combined with a new building, situated in the CBD of a major urban centre of the Sunshine Coast,” said Holliday