This article is from the Australian Property Journal archive
THE sub $20 million healthcare sector is going from strength to strength with the sale of the Murray Medical Centre in Mandurah, Western Australia.
The free-standing super-medical centre located at 34-36 Minilya Parkway is set on a 6,295sqm landholding.
The sale comes after last week’s $5.8 million sale of St James Terrace aged care facility in Melbourne by an international investor, which was also managed by CBRE.
The centre sits in the healthcare precinct of Mandurah and is 50m from the Peel Health Campus, a 260-bed hospital, and is also directly opposite the new Genesis Cancer Centre. It is also within close vicinity of the Kwinana Freeway.
The sales campaign was managed by CBRE’s National healthcare sales team, Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto.
“The effects of COVID-19 over the course of 2020 have acted as a catalyst for investor interest toward the healthcare sector, with the asset class fast emerging as the ‘Cinderella’ of commercial real estate investment,” said Peluso.
“Healthcare is being dubbed one of the nation’s few true ’recession proof’ sectors given its strength, continual operation through the pandemic and resistance to e-commerce factors,” he continued,” he added.
Peluso highlighted that this strength in the face of crises was demonstrated by super medical centre’s ability to transact on a pure return and tenancy mix basis, as they did throughout 2020.
“In a similar transaction, our team transacted the Cranbourne Medical Centre for $23,000,000 on a yield of circa 5.6%,” added Peluso.
“The outlook for the healthcare commercial property sector is very strong heading into 2021, with supportive demographic trends such as population growth and an ageing population fuelling increased demand within the sector,” said Twelftree.
“We are seeing institutional and high-net-worth private buyers look all over Australia for Healthcare assets – once these groups confident in the tenant and supportive demographics, location is secondary, as they are looking for passive investments to hold their book value and continue to produce a solid return for investors.”
