Brisbane medical centre collects $13.7m
Developer Ron Build has sold the two year old Mt Gravatt Medical Precinct, in Brisbane’s south east.
The fully leased four level class 9A graded complex, 1808 Logan Road, Upper Mount Gravatt, has earned $13.7 million from a local investor – reflecting a 5.15 per cent net passing yield.
With 1275 square metres of area, it is occupied by CODA Disability Support, My OT Crew, One Care Doctors and Ramsay Pharmacy.
The asset also contains 146 car parks – many within a basement – and an ambulance bay.
Ray White Commercial Trade Coast’s Franz Stapleberg described the property, between the Greenslopes Private Hospital and Sunnybank Private Hospital, as pandemic-proof (story continues below).
Demand for healthcare investments, he added, has been particularly strong since the national COVID lockdown two years ago.
Upper Mount Gravatt is about 11 kilometres from Brisbane.
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