Following an On-Market EOI campaign, The Hendra Medical & Wellness Centre, has sold for $8.125m.

Colliers Directors Harry Dever and Chris O’Driscoll led the initial leasing campaign and were exclusively appointed to bring the 100% Leased Healthcare asset to market.

With construction nearing completion, the interstate developer decided to capitalise on the competitive healthcare market selling the property to Limbada Group via an on-market expressions of interest.

“Investors were drawn to the Hendra Medical and Wellness Centre for the strong underlying land value, long term leases, and solid healthcare tenant covenants,” Associate Director of Colliers Retail Leasing and Transactions Services, Harry Dever said.

The on-market campaign yielded 300 enquiries ranging from private investors, syndicates and property funds wanting to deploy capital into a secure investment.

“Colliers were able to provide end to end solutions for our client from acquisition, project leasing, and divestment.”

The sale reflects a 4.79 per cent yield, showing the strength and stability of the healthcare property industry.

“The Healthcare property market has remained strong and resilient through the headwinds investors are currently facing through cost of debt, interest rate rises and inflation,” Chris O’Driscoll, National Director of Colliers Healthcare and Retirement Living said.

“The healthcare property market has proven to many investors that it is a defensive asset class and an essential service for a community,”

Just 7km North-East of the Brisbane CBD, the leased healthcare investment was underpinned by national tenants Kieser Training and Medicross medical with new long term leases with a WALE of 11 years with options.

The Hendra Medical & Wellness Centre officially opened its doors 1 September 2022. 

To request a sales and leasing analysis please contact the selling and leasing agents from Colliers specialist business via the below contact details. 

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