This article is from the Australian Property Journal archive
A GROUP of 12 specialised disability units accommodating NDIS clients in Rydalmere has sold for $6.2 million, becoming the first freehold investment of its type to transact in New South Wales.
JLL’s Dylan McEvoy and Gordon McFadyen sold the 391 Victoria Rd property to a NSW-based syndicate via an expressions of interest campaign, after generating a total of 154 enquiries and nine qualified bids.
JLL had previously leased the asset to national healthcare provider Zenitas on a 10 year term.
McEvoy said there is a new wave of institutional capital looking to invest within the disability housing sector.
“Often these forms of assets are operated or leased to national providers with healthy balance sheets ensuring stable and robust rental returns back to investors.
“We expect this trend to continue leading to property funds launching NDIS orientated product offerings to their investors.”
The property is certified to accommodate NDIS clients.
The asset includes 12 modern, self-contained residential units designed to accommodate tenants with specialist living needs. Each has wheelchair and walker accessibility and extensive thermal and acoustic insulation.
McFadyen said the NDIS sector offers compelling investment returns that are supported by government funding and a strong underlying social requirement.
“A 10-year lease to a highly regarded national tenant is a rare commodity in today’s market and highly sought after,” he said.
