Medical precinct sells for $13.7 million

A strata-titled investment within a medical precinct in Upper Mount Gravatt has sold for $13.7 million, highlighting the increasing demand for covid-proof assets.

The fully-leased strata investment, located at 1808 Logan Road, is tenanted by four different medical tenants including Ramsay Pharmacy, One Care Family Doctors, My OT Crew, and CODA Disability Support, with a net annual income of $705,099.

The 1275sqm strata was sold to a private local investor with a yield of 5.18 per cent.

Ray White Commercial TradeCoast agent Franz Stapelberg marketed the Mt Gravatt Medical Precinct on behalf of local developer Ron Build.

“1808 Logan Road is a dedicated medical precinct with quality national and local medical professionals,”Mr Stapleberg said.

“Strategically located between Greenslopes Private Hospital and Sunnybank Private Hospital, it’s ideal for specialists and patients.”

Mr Stapelberg said there had been huge demand for healthcare assets since the pandemic started.

“There has been very strong interest in medical properties as investors are looking for more secure investments,” he said.

“Mt Gravatt Medical Precinct presented a unique opportunity to secure a defensive investment with security from global pandemic conditions.

“It is a pandemic proof asset as all tenants offer essential services.”

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