Perth medical centres booming with $17.5m+ sale

Perth medical centres booming with $17.5m+ sale

IN a clear sign of strength for the healthcare property market in Western Australia, Real Asset Management Group has snapped up two separate centres for a combined $17,533,358 in Madeley and Midland.

The long established health centre of over 40 years at 210 Wanneroo Road, Madeley sold for $9,743,358 achieving a 6.35 per cent yield. The 4,289 sqm centre comprising seven medical and health practices is located on the major arterial road.

The second major medical centre with a 10 year head lease to Swan Medical Group at 278-280 Great Eastern Highway in Midland sold for $7,780,000, achieving a 6 per cent yield. The centre was established 42 years ago and is aptly situated close to the Midland hospital.

The deals were negotiated by Ray White Commercial WA’s, Brett Wilkins, Stephen Harrison and Josh Sumner who said that to acquire both well-established centres posed a once in a generation opportunity to the astute investor.

“Throughout the pandemic, the healthcare sector has remained resilient given that they provide essential services to local communities,” Mr Wilkins said.

“Transactions like these indicate that there remains a strong level of demand for medical assets that benefit from strong lease covenants and long remaining lease terms,” he said.

Mr Wilkins said that the healthcare sector is benefitting from the increasing aging population, and the rise in private health insurance.

“We have seen the inclusion of full medical service offerings in these centres, including radiology, pathology, pharmacy and small retail tenancies,” he said.

There has been some $150m of healthcare sold in the last 12 months across the Perth and Peel regions. Brett Wilkins has become a leading voice in the sector, having sold approximately $35m during this period.

Other healthcare sales by Brett Wilkins and Josh Sumner this year have included the Dianella Medical Centre for $5.75 million and the Waikiki Private Hospital and Specialist Centre for $13.25 million, with more announcements due very soon.


Contact details: 

Brett Wilkins
Ray White Commercial (WA)
0478 611 168

Stephen Harrison
Ray White Commercial (WA)
0421 622 777

Josh Sumner
Ray White Commercial (WA)
0488 221 331

Media contact: 

Nina Clarke
Ray White Group
0448 841 606

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