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Manly Clinic is a long-established general practice clinic that has been operating since 1956. A year ago, Manly Clinic was acquired by Independent Practitioner Network (IPN), Australia’s largest network of medical centres – part of the Sonic Healthcare Group (ASX:SHL).
Deep Buyer Demand for Wynnum Market
The strength of Wynnum & Manly’s residential market and a more diverse population, has led to deepening demand for commercial investments from local and interstate investors. Given the Wynnum commercial and retail property market is tightly held, we are seeing an imbalance of demand outstripping supply of investment opportunities.
Premium for Medical Assets
This sale is another example that medical buildings attract stronger pricing / yields as healthcare businesses – particularly clinical / imaging practises – are seen as very low risk.
Development Upside
Wynnum continues to experience increasing demand for higher quality apartments – mostly from downsizers and empty nesters - which is leading to developers entering the local market.
85 Clara Street, Wynnum
Land Area: 2,431sqm
NLA: 696sqm
Zoning: MC Major Centre
Sale Price: $4,800,000
Sale Rate / Sqm (Land): $1,974/sqm
Sale Rate / Sqm (NLA): $6,897/sqm
Initial Yield: 5.89%
WALE: 2.61 Years (By Income)