A fully leased medical centre on a corner site has changed hands for $6,600,000 in an Expressions of Interest campaign conducted by Savills Jack Morrison and Peter Chapple on behalf of a private investor.

The 1,179sq m asset, Nundah Medical Centre, at 1220 Sandgate Road, Nundah is on a 2,042sq m corner site and was purchased by Heathley Limited for the Heathley Direct Medical Fund which secures medical properties throughout Australia. The hotly contested on market campaign realised an initial yield of 6.5 percent.

Savills Senior Executive of Metropolitan for Capital Transactions in Queensland, Jack Morrison said “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.”

The site possesses long term development potential, in a rapidly gentrifying Northside precinct, which has seen enormous growth in recent years.

“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,” Savills Director of Capital Transactions in Queensland, Peter Chapple said.

“The asset’s location was also of great appeal to investors, with 1220 Sandgate Road close to the Brisbane CBD, Brisbane Airport and a number of public transport options.”