Case Study
In March 2024, RAM identified and purchased a nearly vacant mixed-use development in the northern corridor of Brisbane. By partnering with iMH, RAM successfully converted the precinct to a health and wellness hub, anchored by a new 58 bed private mental health hospital on a new 25-year lease.
Nundah Private Hospital is part of a broader commercial campus at 20 Nellie Street, now fully developed into an 11,000 sqm specialist healthcare precinct. The site is supported by Lumus Imaging, a GP and dental clinic, and various allied health providers.
| REGION | Inner North Brisbane CBD, QLD |
|---|---|
| ADDRESS | 20 Nellie Street, Nundah, QLD |
| ASSET TYPE | Mental health, mixed-use and allied health |
| RISK PROFILE | Value-add |
| DATE ACQUIRED | March 2024 |
| PROJECT TIMING | 8 Months |
|---|---|
| PROJECT COMPLETION | November 2024 |
| PURCHASE PRICE | $51.25M |
| GLA | 10,253 sqm |
| ANCHOR TENANTS | iHM, Lumus imaging |
RAM had a mandate from a national operator, which we were able to shortlist three suitable sites. RAM settled on this property which was approaching development completion and had a 68% vacancy rate prior to settlement.
RAM structured a deal with the vendor, contingent on planning approval to designate the site for hospital use. RAM successfully negotiated a 25-year lease with the anchor tenant and funded the hospital fit-out, which has been capitalised into the rent, mitigating construction cost risks.
Substantial value was added through planning and leasing before acquisition. Since securing site RAM have introduced national radiology provider Lumus Imaging, which will support general practice and other medical professionals.
Real Asset Management Pty Limited 澳洲公司編號162 123 408 澳洲金融執照484263
本網站包含註冊商標及其他受法律保護的商標。
未經我們事先書面同意，任何人士不得使用我們或相關機構持有的商標。
