A growing Australian wealth and asset management firm has secured a medical facility with development upside in a master planned healthcare precinct north of Brisbane.<\/p>\n\n\n\n
Real Asset Management paid $8.3m for the 2200sq m site at 6 Silvyn St. Redcliffe, which has a 1000sq m single storey building which houses Qscan Radiology Clinics.<\/p>\n\n\n\n
Qscan has 12 years of its lease remaining with two five year renewal options. Vacant land at the rear of the building has its own title and is a potential development site for a commercial, aged care or a residential complex.<\/p>\n\n\n\n
The transaction generated a fully leased yield of 5.9 per cent. Real Asset Management head of real estate Will Gray said he and his Brisbane-based team were attracted to the asset because of its strategic location within a master planned healthcare precinct and the long-term income stream generated by the anchor tenant in Qscan.<\/p>\n\n\n\n
He said the site was 350m from Redcliffe Hospital and part of an \u201decosystem\u201d of medical facilities.<\/p>\n\n\n\n
\u201cWe also loved the fact that Qscan Radiology is a well-established high calibre tenant and a market leader in its field \u2013 a field that has favourable defensive characteristics,\u201d Mr Grey said. \u201cWe are particularly interested in realising the full value of vacant under-utilised land on the site.<\/p>\n\n\n\n
\u201cIt could accommodate a variety of permitted uses, such as more than 4000sq m of commercial offices or an allied health facility or more than a 100-bed aged care facility which lends itself to the immediate surrounding demographic and location.\u201d<\/p>\n\n\n\n
Mr Gray said the property would not be part of the fund manager\u2019s $340m Australia Retail Property Fund.<\/p>\n\n\n\n
He said it would be placed in a separate account offering its high net worth investor base a long-dated stable and reliable yield with some potential short-term value-add.<\/p>\n\n\n\n
Accelerating success.<\/p>\n\n\n\n
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A growing Australian wealth and asset management firm h […]<\/p>\n","protected":false},"author":1,"featured_media":25198,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"post-type":[],"class_list":["post-28455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-media-zh-hant"],"acf":[],"yoast_head":"\n