2 Medical Investments Sold for $14.93m

Stonebridge Property Group are pleased to announce the sale of Riverina and Albury Day Surgeries to Heathley Asset Management. The two properties were sold as a portfolio reflecting a combined passing yield of approximately 6.32%.

The properties are located in Wagga Wagga and Albury, two of NSW’s largest inland cities and both boasting strong medical industries set up to service the region’s growing population.

Both properties are ideally located in the medical or aged-care precincts of Wagga Wagga and Albury and are located within close proximity to the major Riverina Private Hospital, Wagga Wagga Base Hospital and Albury Wodonga Private Hospital, respectively.

Combined, the properties generate a net income of $943,137 p.a. and cover some 2,632 sqm of floor area, with leases expiring in 2024 and 2025.

Stonebridge Sales Agent William Blanch said: “Riverina Day Surgery and Albury Day Surgery represent outstanding single-tenant, long-term investments, leased to highly experienced and proven tenants with strong track-records in both locations.”

“There is currently a significant amount of investor demand for alternative asset classes including medical assets, with both seasoned and new-to-class investors competing fiercely for these two properties.”

For the Sale Analysis and more information, please contact the agent, William Blanch on +61 400 099 966.

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