Newmarket, QLD

CLIENT BRIEF

Purpose of Purchase: Investment

Property Type: Medical Centre

Key Criteria:

  1. Low vacancy
  2. Strong tenant pool
  3. In-demand location

Client Outcome

Key Positives:

  • Very unique facility with 5 separate medical tenants on long-term leases
  • Significant main road exposure
  • Development upside

A Successful Investment:

After trying to secure another medical facility in a neighbouring suburb that didn’t eventuate, we uncovered this opportunity off-market and uncontested. The negotiation process took almost 8 weeks before then entering the due diligence period and successfully transacting. The former owners had designs for a childcare upstairs as an additional level and during the due diligence period we spoke to the town planners who confirmed this would be likely approved by Brisbane City Council so our clients have the intention to pursue this further in the next 5-10 years to further increase the return on investment.

 

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