Queensland’s first hospital-hotel sold for whopper price

The 10-storey building housing Westside Private Hospital and Essence Suites in Taringa has changed ownership.

Queensland’s first hospital-hotel building has fetched a whopper price for its owners in a sign of continuing commercial demand in the face of an upswing in interest rates.

Built for $65m, the 10 storey building housing Westside Private Hospital and Essence Suites in Taringa, in Brisbane’s inner west, has changed hands between two Sydney-based fund management firms.

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The view from a studio accessible room at the Essential Suites in Taringa – one of the first combined hospital-hotels. Picture: Essence Suites Taringa and Westside Private Hospital.

File picture from the opening of the Essence Suites and Westside Private Hospital. Picture: Essence Suites Taringa and Westside Private Hospital.

Queensland Government records show Eureka Funds Management sold the property at 28 Morrow Street, Taringa to Centuria Prime Partnership for $95.91m in a multi-sale deal.

The agreement was struck on March 11 this year, with possession occurring just 20 days later.

Earlier reports show the building was created to house a short stay private hospital on lower levels, with 63 luxury suites and sky homes on upper levels. It was developed by Evans Long and Montserrat Hospital, based on an integrated health care model.

The patio outside of a conference room at the suites in Taringa. Picture: Essence Suites Taringa and Westside Private Hospital.

The bathroom in a studio accessible room with a city view. Picture: Essence Suites Taringa and Westside Private Hospital.

According to Westside, the hospital has over 50 practising specialists across 25 areas including clinical haematology, colorectal, dermatology and Mohs surgery, gastroenterology and endoscopy, general surgery, IVF, medical oncology and ophthalmology.

The luxury hotel facilities are managed as Essence Suites Taringa, located within the hospital with direct access to the hospital’s facilities and the nearby train station.

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