Sunnybank healthcare asset sold for $8.828M by RWC Medical

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Dec 10, 2024

Sunnybank healthcare asset sold for $8.828M by RWC Medical

A rare Sunnybank medical investment at 679 Beenleigh Road Sunnybank sold for $8.828 million by RWC Medical’s Franz Stapelberg and Nicolas Milner.

RWC

679 Beenleigh Road Sunnybank sold by RWC

A rare Sunnybank medical investment has sold for $8.828 million on a 4.3 per cent yield.

Located at 679 Beenleigh Road, the 2,222sqm site comprises a 694sqm building which is leased to Australis Professional Care, with a current net income of $384,000 per annum.

The property was brought to market by RWC Medical’s Franz Stapelberg and Nicolas Milner.

“This was the first time this property had come to market in 20 years,” Mr Stapelberg said.

“In Sunnybank it’s very rare for property to go on the market. The area is incredibly tightly held, people never sell.

“So this was a very rare opportunity for buyers.”

Mr Milner said the property received a huge amount of interest, eventually selling to a buyer who wanted to secure the property to potentially occupy in the future.

“We received more than 200 enquiries throughout the campaign, with interest coming from both local and interstate buyers,” he said.

“Not only was it a corner block on the main road, but it was a coveted healthcare asset which are of high interest to many investors.”

Mr Stapelberg said the medical property market was showing incredible strength and steady growth.

“With more demand for healthcare services than ever and the reliability of long-term tenants, investors are seeing just how valuable and secure these assets can be,” he said.

“In tightly held areas like Sunnybank, where properties rarely come up for sale, opportunities like this are truly special and highly prized.”