This article is from the Australian Property Journal archive
A VICTORIAN-based investor has quietly picked up a medical and childcare facility on the edge of south-east Queensland’s Ipswich for $15 million in an off-market deal.
The 2,300 sqm purpose-built “The Hub”, located at 41 Queen Street in Goodna. is anchored by 112-place Kids Early Learning Centre, as well as tenants Café 63 and Prime Performance Physiotherapy, on a 6,459 sqm site.
The brand-new facility returns $984,650 per year in rent.
Colliers agents Nick Wedge and Chris O’Driscoll managed the sale.
“Rarely do new medical and childcare centres come to market and this site presented a great opportunity for astute investors to purchase a trophy, generational holding,” Wedge said.
“We carried out a tailored off-market process to 20 investors on behalf of the developer, with all parties showing interest in the asset offering a 6.26-year weighted average lease expiry by area.
He said the surge in population has fuelled the demand for essential service assets, strengthening the property’s position as a viable investment opportunity.
The asset transacted at a 6.56% yield.
O’Driscoll said the involvement of active institutional investors at this price point, which also attracts high net worth individuals, has resulted in significant yields in past years.
