One of the biggest medical centres in WA has sold to RAM Australia with a 5.5 per cent yield.
Halls Head Medical Centre, located at 66-70 Mahogany Drive and 1-5 Peelwood Parade, comprises seven specialised buildings over seven lots.
The property is tenanted by a medical centre, specialist centre, skin clinic, allied health, respiratory clinic, pharmacy, and pathology with a WALE of eight years.
The property was sold by Ray White Commercial WA agents Brett Wilkins and Josh Sumner in an off-market deal.
Mr Wilkins and Mr Sumner have been associated with the sale of over $100 million in healthcare assets in the past year.
“Halls Head Medical Centre is a major healthcare precinct with not only one of the biggest GP centres in WA but also major pharmacy and allied health,” Mr Wilkins said.
“The property was purchased by RAM Australia who are a major fund investing in healthcare assets, having purchased the Swan Medical Centre in Midland, Madeley Medical Centre, Secret Harbour Medical Centre in WA in the past year.
“Healthcare property is currently one of the hottest asset classes in Australia.”
Mr Wilkins said he could not disclose the sold price for the property.