A brand-new integrated Health Hub has sold on a tight yield of 5.39%, highlighting the strong market demand for quality investments in the “in demand” health sector. The Ochre Health Hub at Caloundra in the rapidly growing Sunshine Coast was pre- sold on a 15 year lease-back for $15.3 million by Savills Peter Tyson and Michael Harcourt.

The newly constructed Ochre Health Hub at Caloundra in the rapidly growing Sunshine Coast was pre- sold on a 15 year lease-back for $15.3 million by Savills Peter Tyson and Michael Harcourt handled the off-market transaction and sale on behalf of Ochre Health to a private Sydney-based investor. Damien Holliday of Prosper Group acted for the buyer.

Peter Tyson said “The Ochre Health Hub attracted intense buyer interest nationally, with more than 150 separate enquiries and multiple offers in a hotly contested offering.”

Deal at a glance:

• Sold Price: $15.3m
• Asset: Newly built “The Ochre Health Hub”
• Location: Sunshine Coast Queensland 
• Yield: 5.39%
• Building Area: 1,964 sqm
• Lease term: 15 years
• Buyer: Sydney based private investor 
• Buyers Agent: Damien Holliday of Prosper Group
• Vendors Agent: Peter Tyson and Michael Harcourt Savills 
• Source: Savills 

“The medical and allied health sector continues to be a highly coveted asset class, which has been accelerated by increased demand for long leased real estate tenanted by essential services. New single tenant medical investments with long lease security and national tenants such as Ochre Health, a leading Australian primary healthcare provider, are rare and highly sought after by the marketplace,” Mr Tyson said.

The purpose-built facility comprises a 1,964sq m, two-level integrated health hub, 100% leased to Ochre Health on a long term, 15 year net lease in the Caloundra CBD.

Michael Harcourt said “Ochre Health already operated a smaller clinic in the precinct and viewed this strategic location as an opportunity to expand their medical practice and integrate with pharmacy and allied health providers and secure a state of the art facility providing a “one stop shop” for the community. The Ochre Health Hub is now the largest integrated medical centre and health hub in its catchment.”

Damien Holliday said “the buyer was attracted to the long lease security to a quality health care provider, combined with a new building, situated in the CBD of a major urban centre of the Sunshine Coast.”