This article is from the Australian Property Journal archive
EG Funds Management has snapped up two medical centres in the Gold Coast region for a combined purchase price of $12.8m, marking the firm’s entry into the healthcare real estate sector.
Both properties are leased to IPN Medical Centres, Australia’s largest operator of GP clinics and a division of ASX-listed Sonic Healthcare.
In the Gold Coast suburb of Highland Park, Highlands Health Centre at 95 Alexander Street features a leasable area of 932 sq m.
Parkwood Family Practice at 306 Olsen Road has a leasable area of 856 sq m.
The properties have a weighted average lease expiry of 3 years. It is projected to return an average distribution of 8.4% p.a.
The assets transacted at an 8.7% yield.
“Our strategy is built on partnering with high-quality healthcare operators to provide best-in-class real estate solutions,” said Shay Ramalingam, director for healthcare at EG.
“By leveraging data-driven site selection and deep market analysis, we can secure locations that align with patient needs and operator success, creating sustainable healthcare infrastructure for the future.”
