Located at 318 Junction Road, the 829sqm* centre sold for $8,000,000, representing a sharp 5.68 per cent yield. Anchored since its construction by Junction Road Family Practice, the long-established GP clinic today operates with 11 doctors and an internal QML Pathology, supported by a complementary mix of allied health, retail and office tenants.
The sale generated 259 enquiries and six registered bidders, with strong interest from medical practitioners across Australia. “This centre ticked almost every box for medical investors with a long-standing GP anchor, complementary supporting tenants and substantial parking so it’s no surprise it was so tightly contested,” said Mr O’Keeffe.
Situated on a high-profile 2,516sqm* corner landholding just 6km north of the Brisbane CBD and next to Eagle Junction train station, the property offers 44 on-site car parks, providing unmatched convenience for both patients and customers.
The result continues RWC Retail’s record of achieving premium outcomes in the healthcare sector, with Mr Feltoe saying “medical centres remain one of the most tightly held asset classes, and this result demonstrates just how much confidence investors have in defensive, healthcare-backed retail. And with 6 bidders at a highly competitive Auction, there are buyers ready to go this instant.”
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