 Asset Class: | Medical |
 Price: | $ 6115000 |
 Net Yield: | 10.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Pre Market |
<span style="color:rgb(51, 51, 51);">Southern Regional Medical Centre presents an extremely unique investment opportunity to purchase a multi-tenanted medical asset at the net yield of 10%. Tightly held for over 35-years, the centre is ideally positioned in the Albany Central Business District (CBD) with high exposure to Albany Highway.</span><br><br><span style="color:rgb(51, 51, 51);">The property boasts a longstanding anchor tenant (By lettable area) in Southern Regional Medical Group, who have been operating from the Albany area for over 50 years. Comprising over 15 doctors and 30+ staff, the centre is a thriving healthcare facility which provides the broader area with essential services.</span><br><br><span style="color:rgb(51, 51, 51);">Co-located with the medical centre is Clinipath Pathology which has historically been </span><span style="color:rgb(51, 51, 51);"><b>one of the strongest performing collection centres in WA</b></span><span style="color:rgb(51, 51, 51);">. This tenancy profile underpins the asset's defensive income stream and long-term growth potential.</span><br><br><span style="color:rgb(51, 51, 51);">Situated on the northern alignment of Albany Highway, Southern Regional Medical Centre enjoys a high exposure location to a main thoroughfare which carries a high volume of foot and vehicular traffic. The centre is also centrally located nearby to complimentary retail, health, education and recreational amenity such as Albany Plaza, Albany Primary and High School, Dog Rock Boulevard and Retravision Stadium.</span><br><br><span style="color:rgb(51, 51, 51);">Refurbished in 2011, the facility offers a total net lettable area (NLA) of approximately 1,184m², in addition to 19 on-site car parking spaces. The strategic location and strongly performing tenant covenant, adds to the attractiveness of this tightly held offering in the sought-after healthcare real estate market.</span>
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<span style="color:rgb(0, 29, 53);"><b><u>Southern Regional Medical Group</u></b></span><br><br><span style="color:rgb(0, 29, 53);"><b>Website: </b></span><a style="color:rgb(44, 123, 208);display:inline;font-weight:normal;" target="_blank" href="https://albanydoctors.com.au/"><u>Southern Regional Medical Group | Specialist Doctors & GPs in Albany</u></a><span style="font-weight:normal;"></span><br><br><span style="color:rgb(35, 31, 32);">We chose to be GP’s precisely because it allows us to care for you as a person, not a condition. You benefit from the latest medical research and cutting-edge technology, delivered by </span><a style="color:rgb(35, 31, 32);padding-left:0px;display:inline;" target="_blank" href="https://albanydoctors.com.au/our-teams/"><u>health professionals</u></a><span style="color:rgb(35, 31, 32);"> who are committed to your total well-being.</span><br><br><span style="color:rgb(35, 31, 32);">As your primary care provider, we:</span><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Make prevention and wellness a priority</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Collaborate with you to customise a plan to suit your individual needs and goals</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Offer easy-to-understand medical advice and insights</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Provide a secure repository for all your electronic medical records</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Seamlessly co-ordinate every aspect of your care, including tests, treatments, specialist visits and hospitalisation</span></p></li><li style="list-style-image:none;margin-inline-start:0px;color:rgb(35, 31, 32);"><p style="display:inline;"><span style="color:rgb(35, 31, 32);padding-left:20px;font-weight:normal;font-style:normal;">Find cost-effective options that empower you to prioritise your health</span></p></li></ul><br><span style="color:rgb(35, 31, 32);">Offer a more convenient experience through 8am to 8pm opening times, same day appointments, a central location, online bookings, adjacent pathology and an adjacent pharmacy.</span><br><br><span style="color:rgb(35, 31, 32);"><b>Please note that the centre currently has 15 doctors working in there. As per the selling agent it is the busiest practice in the region with a total of 32 staff members.</b></span><br><br><span style="color:rgb(35, 31, 32);"><b><u>Clinipath Pathology</u></b></span><br><br><span style="color:rgb(35, 31, 32);"><b>Website: </b></span><a style="color:rgb(44, 123, 208);display:inline;font-weight:normal;" target="_blank" href="https://www.clinipathpathology.com.au/"><u>Home | Clinipath Pathology</u></a><span style="font-weight:normal;"></span><br><br><p style=""><span style="font-weight:normal;">Clinipath Pathology is a member of the Sonic Healthcare group.</span><span style="color:inherit;font-weight:normal;"> They have been providing quality pathology to the WA community for over 30 years.</span></p>
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Please see the attached file. <br><br><b>Notes:</b> <br><br><ul style='list-style-type:ulRightPointer;list-style-image:url("data:image/svg+xml,%3Csvg xmlns=%22http://www.w3.org/2000/svg%22 width = %229px%22 height = %229px%22%3E%3Cpath d = %22M14.6,95c0,0.1,0,0.1-0.1,0.2c0,0.1-0.1,0.1-0.2,0.1l-7,3.2c-0.1,0-0.1,0-0.2,0S7,98.4,6.9,98.4 c0,0-0.1-0.1-0.1-0.2s0-0.1,0-0.2l1.4-3.3l-1.3-3.4c0-0.1,0-0.1,0-0.2s0-0.1,0.1-0.2c0,0,0.1-0.1,0.2-0.1s0.1,0,0.2,0l6.9,3.7 c0.1,0,0.1,0.1,0.2,0.1S14.6,94.9,14.6,95z%22 style=%22fill:rgb(51%2C51%2C51)%3Btransform:translate(-6px,-90px)%3B%22/%3E%3C/svg%3E");list-style-position:inside;padding-inline-start:20px;'><li style="margin-inline-start:20px;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Rethink Investing has understand that Pathology Rent Per Sqm is above the market rent which we have inquired during our initial due diligence process. The seller has disclosed us since the practice is so busy with 15 doctors they had three submissions from different pathology clinics. Clinipath Pathology, Western Diagnostic Pathology and another party. They mentioned all of them were in the similar range. Also, the Pathology tenant has exercised their 5 year option early to December 2031 shows their commitement to this location. </span></p></li></ul><br>
Additional Financial Information FileInitial Term:
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Established local operator with over 40+ years’ of experience in the local community.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Current net income of $611,696 per annum* + GST and Outgoings with annual CPI increases.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">4.8-year Weighted Average Lease Expiry (WALE) by income.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Refurbished, single storey centre totalling 824sqm*.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Large underlying landholding of 1,525sqm*.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">High exposure location with frontage to Albany Highway.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Strategic position nearby to complimentary retail, health, education and recreational amenity.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Supporting demographics of the broader Great Southern Region driving healthcare services.</span></p></li></ul>
