This article is from the Australian Property Journal archive
AROUND $20 million is expected for Liverpool’s fully-leased GP Super Clinic building, which becomes the latest health and medical property investment to hit the market.
The fully leased 2-4 Speed Street building is a dedicated medical services hub that brings over $1 million in annual income. It has a 9.5-year weighted average lease expiry and is moments from Liverpool City Council’s new headquarters being developed at Civic Place.
Colliers’ Thomas Mosca, Nick Estephen, John McCann, and Harry Bui have the listing.
Mosca said the market for medical assets is remaining strong and robust reflected with the significant growth over the past five years.
“South west Sydney has also been the area of focus for health REITs as they are turning their attention to the growth occurring in the region,” he said.
Western Sydney has been the target of billions of dollars in investment, from the future Western Sydney International Airport to the $790 million funding of the extension and refurbishment of Liverpool Hospital, including a new six-storey building.
The Speed Street asset is the latest medical investment placed on the market as investors seek safe-havens for capital off the back historically low interest rates and the secure covenant of medical tenants in the COVID-19 environment, the agents said.
Mayor of Liverpool, Ned Mannoun, said, “Liverpool is undergoing a great transformation in the medical research space enabling communities in Liverpool and south-west Sydney to better access first-class health services closer to home.
“The expansion of Liverpool Hospital will transform health services within the Liverpool innovation precinct which is already at the forefront of solving some of the world’s most complex health issues and continues to play a key role in driving the city’s renewal.”
Expressions of interest for the GP Super Clinic close 10th November.
