Quanta adds third Centuria healthcare asset
Centuria has sold a Gold Coast healthcare and childcare investment, acquired on a funds-through basis four years ago.
The asset manager banked $24.25 million for 299 Scottsdale Drive, Robina – trading as the Robina Lifestyle & Medical complex.
It paid $27.5m on a funds – through basis.
That seller was the developer, Newlink Property Group, which offered it fully leased (75 per cent via pre-commitment, the balance by rental guarantee).
The new owner is Quanta for a family office client.
Quanta backs essential services again.
Robina Lifestyle & Medical is the third asset realestatesource.com.au has reported the ASX-listed giant sold this year to the four-year old Brisbane-based private fund manager.
In June the pair traded the Albury Day Centre at the NSW/Victorian border.
Five months earlier they exchanged the Icon Cancer Centre in Brisbane’s Chermside.
JLL’s Thomas Thorsen and Simon Quinn marketed 299 Scottsdale Dr.
The result reflects a 6.26pc net passing yield pricing the lettable area at $8605 per square metre.
Securely leased.
Robina Lifestyle & Medical contains 2869 sqm configured as six tenancies (continues below).
Health and allied health operators account for just under 70 per cent of the income; Medical on Robina is one of the anchors.
A Green Leaves Early Learning Centre, with 108-places, contributes to 28pc.
The weighted average lease expiry is 8.46 years.
The site spans 5029 sqm with 113 car parks – many, undercover.
Scottsdale Dr is, the main throughfare connecting the M1 and Robina.
The suburb is considered the major hub of economic trade, retail and employment for the southern Gold Coast region.
“The acquisition reflected Quanta’s ability to deliver end-to-end property investment solutions for sophisticated clients, from the acquisition through to ongoing investment management,” Quanta managing director, Tim MacKinley, said.
“Healthcare and childcare centre assets continue to benefit from strong underlying demand supported by essential services and long-term demographic trends,” according to the executive.
“Robina’s strategic location and ongoing growth make this an attractive addition to our client’s property portfolio,” he added.
Robina is about 10 kilometres south west of Surfers Paradise.
Article by Real Estate Source.
