Hat-trick of medical centre sales on the Sunshine Coast

By Aaron Hivon

THREE modern medical centres have been sold by a single local vendor in the Sunshine Coast Hinterland for a combined total value of $4.28 million with yields ranging between 5.5 and 7.2 per cent across the three sites.

Cooroy’s 8 Emerald Street(pictured above) sold for $1.88 million, 6 Imbil Island Road(pictured below) in Imbil sold for $1.2 million, and Pomona’s 5 Factory Street(pictured bottom) also sold for $1.2 million.

All three leased properties were sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan.

“A high level of national enquiry was generated on the properties; however, all three properties were ultimately purchased by savvy local buyers recognizing the growing demand for medical services on the Sunshine Coast,” Ms Ryan said.

“The centres were a mix of free-standing custom-fit and custom-built buildings originally used for the vendor’s medical group.

“All three were set up to specifically address requirements of the local areas and demographic, including small operating theatres and high-capacity generators in place to ensure a constant power supply.

“The current tenants are part of the Doctorlink Medical Centres Group with practices all over Queensland. Pomona sold on a 6.3 per cent yield, Cooroy on 5.4 per cent, and Imbil on a 7.2 per cent yield.

“These yields are reflective of demand for investment stock and a willingness to back growth on the Sunshine Coast currently being generated by a combination of infrastructure projects and an influx of capital city and international buyers moving to the coast.”

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