Located at 104 Haig Road, Auchenflower, the 421sqm* two-storey building comprises two established medical tenancies and a 4.28-year WALE, with potential for an additional tenancy through conversion of a storage area.
RWC Retail’s marketing campaign attracted 382 enquiries and six registered bidders, ultimately selling to a private Queensland investor at a sharp yield of 4.68 per cent per cent.
Mr O’Keeffe said the result highlights the ongoing appetite for defensive, healthcare-based assets in Brisbane.
“Passive medical investments continue to be among the most sought-after asset classes,” Mr O’Keeffe said.
“This property offered exactly what these investors are seeking with secure leases to two longstanding tenants and future rental uplift potential.”
The 810sqm* landholding is located in Brisbane’s highly sought-after inner-west precinct, which Mr Routledge said gave confidence to investors in the long-term value of the property.
“The buyer had previous experience acquiring similar centres, and was particularly drawn to this property with its close proximity to a major hospital, university and CBD, in addition to the proven medical tenants.”
