Strong investor interest for rare Brisbane medical centre listing

The Mt Gravatt Medical Precinct is a modern specialist centre which includes an ambulance bay and parking for 70 patients.

A medical centre has had a flood of investor attention after hitting the market in a rare listing in super pandemic-conscious Brisbane.

Ray White Commercial TradeCoast agent Franz Stapelberg said about 25 enquiries had already been made since the property listed on Friday, with interest coming from both interstate and local investors.

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1808 Logan Road, Upper Mount Gravatt, has had over 25 enquiries within days of listing.

The property has a WALE of 5.66.

Medical centres were among assets seeing high demand since the coronavirus pandemic hit the world, according to agents, with the property at 1808 Logan Road, Upper Mount Gravatt, expected to draw strong results given

The Mt Gravatt Medical Precinct was purpose built as a medical centre, Mr Stapelberg said, with a total lettable area of 4228sq m.

Fresh modern interiors are part of its charm.

Updated fixtures throughout.

The property’s net annual income was $705,099 with a WALE (weighted average lease expiry) of 5.66, which indicates highly stable tenancies. Tenants include a mix of healthcare operators including Ramsay Healthcare, One Care Family GP Clinic, CODA Disability Support, and My OT Crew.

The building has a strong list of healthcare related tenants.

The property is just over 13km from Brisbane CBD.

“Mt Gravatt Medical Precinct presents a unique opportunity to secure a defensive investment with security from global pandemic conditions. These leased medical investments are being offered to the market for the first time and consist of four primary and allied health operators across 1244sq m.”

“The medical precinct is an architecturally designed, four- storey dedicated medical and specialist centre with 147 car parks which include 70 patient car parks and ambulance bay.”

Expressions of interest for the Mt Gravatt Medical Precinct close 4pm on October 15.