Located at 19 Lakehead Drive, the 270sqm freestanding medical building sold for $2,350,000, reflecting one of the tightest yields achieved for a short WALE medical asset in Queensland.
Situated on a 1,022sqm land parcel, the single-tenanted property is fully leased to Ocean Family Medicine and generates a net income of $126,710 plus GST per annum.
With only 18 months remaining on the lease at the time of sale, conventional thinking suggested buyer demand may soften. Instead, the campaign generated 359 enquiries and culminated in competitive bidding from eight registered bidders on Auction day
“This result shows that quality medical assets will always attract competition, even when lease terms are shorter than ideal,” said Pablo Routledge from RWC Retail. “Through a targeted campaign we were able to engage both passive investors seeking future rental uplift and owner-occupiers looking to secure strategic medical real estate.”
The property ultimately sold to a Queensland private investor, and reinforced RWC Retail’s ability to drive premium outcomes, with market-leading enquiry levels and competitive bidding.
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