Heathley Direct Medical Fund secures Nundah medical centre

A fully leased medical centre in Brisbane’s inner suburb of Nundah has sold for $6.6 million through Savills.

Nundah Medical Centre at 1220 Sandgate Road is on a 2,042 sqm corner site.

It was purchased by Heathley Limited for the Heathley Direct Medical Fund which secures medical properties throughout Australia. 

The on-market campaign realised an initial yield of 6.5 percent.

It sold through Savills agents Jack Morrison and Peter Chapple on behalf of a private investor.

“Heathley are highly experienced in the area of medical property investment and will draw on their extensive expertise in medical based property assets to continue to bolster the fundamentals of 1220 Sandgate Road long into the future,” Morrison said.

The site has long-term development potential in a rapidly gentrifying Northside precinct, according to the agents.

“The property attracted an unprecedented level of interest as many see Nundah as a premier investment area with an abundance of potential for future growth,” said Chapple.

The location is close to the Brisbane CBD, airport and is well serviced by transport.