Medical hub sale offers healthy investment
QV Tower at No.11 High St, Launceston is for sale. Picture: Supplied
High St’s QV Tower presents an uncommon opportunity.
Listed for sale with Howell Property Group and Burgess Rawson from CBRE, No.11 is a multi-level, multimillion-dollar property anchored by a State Government tenant, alongside medical and professional services.
Leases include the Department of Health, Emerge Allied Health, High Street Family Practice, CGU & WFI Insurance (IAG) and Launceston Psychology Clinic.
The Department of Health is the primary health agency within the Tasmanian Government, responsible for the administration and delivery of public hospitals, community health centres, mental health services, and comprehensive statewide health programs.
Located just 1.7km from the Launceston CBD, this property provides 6742sq m of floor space on its 4319sq m landholding. It also has 49m of frontage to High St and Clarence St, with dual access available.
QV Tower.
Burgess Rawson sales executive George Wilkinson said No.11 High St represents one of Northern Tasmania’s most significant medical and professional investments, underpinned by a secure government anchor and a dynamic mix of essential health service tenants.
“Opportunities of this scale and quality in Tasmania’s tightly held medical sector are rare, making No.11 High St a true generational asset,” he said.
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QV Tower.
Howell Property managing director Andy Howell said the property’s greatest strengths lie in its prime location, strong medical and professional-focused tenancy mix, and the substantial upgrades completed by the current owner.
“With all major improvements already in place, this asset would be a valuable addition to any commercial portfolio,” he said.
“At this early stage of the campaign, we’ve received strong interest from local and national investors.
“As anticipated, the property has also attracted attention from multiple investment funds.”
QV Tower.
QV Tower’s strategic location within the affluent East Launceston sees it surrounded by key infrastructure including Launceston Aquatic Centre, City Park, Coles, Mitre 10, Autobarn and Chemist Warehouse. It has a favourable ‘Urban Mixed Use’ zoning under the Launceston Local Provisions Schedule.
The property’s net income is over $1.147m per annum, plus GST.
It is for sale via expression of interest, closing September 18.
