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.

Latest news

November 2020
Central Coburg Townhouse development site for sale
A 5,088sqm permit approved site for 36 townhouses is for sale in the heart of Coburg and within the Pentridge Prison redevelopment precinct. Stonebridge Property...
Read More
November 2020
Fawkner offers prime asset to yield hungry market
– BP Westernport Service Centre returning $1.048m pa – Melbourne based property funds manager Fawkner Property has put its BP Westernport Service Centre in Cranbourne...
Read More
November 2020
Troon Group‘s Ballarat Lifestyle Centre on the Market
Ballarat’s Troon Group has listed its brand new Ballarat Lifestyle Centre as the Large Format Retail sector enjoys relatively good times on the back of...
Read More
October 2020
Woolworths Torquay Central to fill major investment demand / supply imbalance
Stonebridge Property Group’s listing of the standalone Woolworths Torquay Central supermarket will test the market for a product that has long been an investor favourite,...
Read More
October 2020
Stonebridge negotiates $150 million Glenmore Park Town Centre sale
Stonebridge Property Group has negotiated the single largest neighborhood centre transaction in 2020 with HomeCo’s $150 million purchase of the Glenmore Park Town Centre. Located...
Read More
September 2020
Stonebridge Property Group launch National Asia Practice Platform
Pandemic drives slowdown in private off-shore Asian investors, whist Domestic Asian investors remain active The COVID-19 pandemic has driven a fall in private off-shore Asian...
Read More
September 2020
Stonebridge to merge with new Melbourne agency
Leading Sydney based commercial real estate group, Stonebridge Property Group, will open a Melbourne office this month, following a merger with a group of Melbourne’s...
Read More
June 2020
Iconic neighbourhood centre sells for $47 million
Shopping centre in Newcastle transacts for $47 million as demand for neighbourhood centres hold firm Stonebridge Property Group’s Philip Gartland in conjunction with JLL’s Nick...
Read More
January 2020
Sold for $68 million – St Marys Village, NSW
Stonebridge Property Group, in conjunction with McVay Real Estate, is pleased to announce the sale of St Marys Village for $68 million. St Marys Village...
Read More
September 2019
The US shows there’s an upside to current retail shifts
There has been much gloom about Australia bricks and mortar retail recently, from the demise of the department and discount department store, to the closure of...
Read More