A brand new healthcare facility in Nundah has been bought by an institutional fund for $51.25 million. 

Located at 20 Nellie street the sale was facilitated by RWC Medical agents Franz Stapelberg, Chris Meyer, Nicolas Milner and Jess Meyer on behalf of the developer. 

The property was purchased by RAM Healthcare Opportunity Strategy. 

The property comprises four buildings with 10,000sqm NLA, predominantly for medical use with supporting retail uses. The site currently boasts a diverse range of healthcare operators within the precinct, including Lumus Radiology, Lvy Dental and Lvy Medical, creating a comprehensive healthcare ecosystem. 

Further improving the precinct's healthcare offerings, the purchaser achieved approval to establish a new state-of-the-art 58 bed private mental health hospital, operated by iMH, which significantly enhances the precinct's mental health and wellness focus. 

Strategically located for optimal accessibility, the property boasts extensive parking, proximity to public transport, and easy access to local amenities. 

Mr Stapelberg said the monumental sale to a prestigious institutional fund not only marks a significant achievement for RWC Medical but also highlighted the thriving demand for specialised healthcare properties in the region.

“The 20 Nellie Street facility epitomises the pinnacle of healthcare infrastructure, combining modern design with the utmost functionality,” he said. 

“Designed to accommodate the evolving needs of healthcare providers and their patients, the precinct will  enhance the mental health and primary health offering in the wider northern Brisbane corridor. 

“RAM Healthcare Opportunity Strategy, which is an institutional fund with a strategic focus on premium healthcare assets, was drawn to the exceptional value and potential of the 20 Nellie Street property. 

“In partnership with the hospital operator, the purchaser selected the Nellie Street property due to the suitability of the existing built form being converted to a private mental health hospital and the co-location with the existing public mental health facility. 

“This acquisition reflects the broader trend of institutional investments in healthcare real estate, recognising it as a stable and promising asset class amidst changing economic conditions.” 

Nundah is an excellent example of the deal origination philosophy that we are pursuing for our healthcare real estate strategy, which involves a bottom-up approach in originating opportunities in collaboration with our operating partners,” said Matthew Strotton, RAMʼs Executive Director and Head of Real Estate.

“Nundah Private Hospital will provide Integrated Private Mental Health services to Northern Brisbane communities. This new model of care in mental health private services is a first for the Brisbane area with the hospital set to open in the second half of 2024,” said iMH Director, Julia Strickland-Bellamy.

“We worked closely with iMH to identify a suitable site for a new facility that would offer them space to implement their innovative model of care. Trusted relationships with our partners mean we better appreciate their space needs and the needs of the communities they serve,” said Sam Wood, RAM's

Mr Stapelberg said the transaction was a pivotal moment for RWC Medical and a testament to the robust growth potential within the Australian healthcare property sector

"This significant sale underscores the vital role of specialised healthcare real estate in the contemporary market,” he said.

“At RWC Medical, our mission is to align extraordinary properties with discerning buyers, ensuring healthcare practitioners can deliver superior care in facilities that perfectly align with their operational

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Nundah healthcare asset sold to RAM Healthcare for $51.25M - RWC Medical