Properties & Pathways has successfully acquired the Logan Central Medical Centre in Queensland from Centuria for $12.19 million, further strengthening Properties & Pathways' portfolio in the healthcare real estate sector.
Logan Central Medical Centre is a well-established medical facility situated on a prime 6,130sqm corner site at the intersection of Logan and Wembley Roads. With its central location and high visibility, the medical centre offers excellent accessibility to the local community.
The property features 10 single-level tenancies, encompassing a total Net Lettable Area (NLA) of 1,850sqm. The centre is anchored by ASX-listed Sonic Healthcare, including IPN Medical Centre, QLD X-Ray, and Sullivan Nicolaides Pathology. Furthermore, the facility provides ample parking with 44 car parks available for visitors and staff.
Mike Walsh and Peter Court of Cushman & Wakefield, along with Simon Quinn and Thomas Thorsen of JLL negotiated the sale on behalf of Centuria.
Mike Walsh, Director, Joint Head of Middle Markets, QLD at Cushman & Wakefield, commented on the evolving nature of healthcare real estate, which has become an attractive asset class for institutional investors.
“The non-cyclical income stream and increasing demand, driven by higher life expectancy and an ageing population in Australia, have made healthcare real estate an appealing investment. Furthermore, substantial government investments and the growth of the private health insurance sector have contributed to the expansion of healthcare expenditure in the country” he said.
The City of Logan LGA is projected to experience significant population growth in the coming years, particularly within the 65+ age group. This demographic trend is expected to be the main driver for increased demand in medical and healthcare services. Properties & Pathways recognizes this opportunity and is well-positioned to cater to the growing needs of the local community.
Peter Court, Director, Joint Head of Middle Markets, QLD at Cushman & Wakefield, said with the acquisition of Logan Central Medical Centre, Properties & Pathways reaffirms its commitment to investing in high-quality healthcare assets and providing exceptional medical facilities to communities across Australia.
“The company looks forward to delivering outstanding services and meeting the healthcare needs of Logan Central and its surrounding areas”.
