 Asset Class: | Medical |
 Price: | $ 51500000 |
 Net Yield: | 6.40 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
<span style="color:rgba(25, 25, 25, 1);">Rethink Investing is proud to present for sale, Noosaville Medical & Professional Centre. A modern multi-tenanted healthcare asset underpinned by a leading cancer care provider (GenesisCare) in close proximity to the Noosa Hospital. Noosaville Medical & Professional Centre represents an extremely rare opportunity to secure a strongly performing multipurpose centre in the Noosa region, a truly desirable living and working destination on the Sunshine Coast, renowned for its natural attributes, diverse, vibrant communities and economic potentials.</span><br><br><span style="color:rgba(25, 25, 25, 1);">We anticipate the healthcare sector to remain relatively immune to the broader economic pressures that are occurring within the market, this is primarily due to the essential services and stable income profiles of the healthcare providers. Noosaville Medical & Professional Centre is no different, being occupied by numerous resilient tenant covenants in Genesis Care, Noosa Radiology, Noosa Clinic, AppleBerries Early Education Services and countless more.</span><br><br><span style="color:rgba(25, 25, 25, 1);">Furthermore, Noosaville Medical and Professional Centre offers significant value add potential through an active Development Approval for an expansion over the existing at-grade carpark to the south western corner of the site. The proposed development comprises a three-storey building with 2 levels of car park and an additional 675sqm of Net Lettable Area. The development will provide a further 53 additional car parking spaces on each of the two levels of parking, resulting in a total of 106 car spaces over the property.</span><br><br><span style="color:rgba(25, 25, 25, 1);">This is a rare off market medical opportunity set to provide its investor a net income of circa $3,309,106* per year with future uplift. </span>
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Noosa benefits from an established and growing population. By 2041, the Noosa population is expected to reach 65,000* residents. The population is characterised by older households with a median age of 50, and a median weekly household income of $1,843.<br><br>Noosa is a home to an older population base which is aging at a faster rate than the rest of the Sunshine State. As at June 2022, 27% of the population is within 65+ age group. With this trend expected to increase over the coming decades, the provision of care and support services to older residents, as well as the appropriate housing strategy, is becoming of significant importance for local and state governments to ensure the housing, health, social and transport needs of the community are met.<br><br>In Queensland, which has experienced the highest population growth in the country, State Final Demand is expected to have grown by 3.7% in 2022 supported by a robust mining sector and the return of tourists and international migrants. The outlook for the Queensland economy remains solid, boosted by population growth, which is expected to remain above national levels at an average growth rate of 1.5% per year over the next five years.
Additional Location Information File<b>Genesis Care</b><br><b>Website: </b><a style="color:rgb(44, 123, 208);display:inline;font-weight:normal;" target="_blank" href="https://www.genesiscare.com/au"><u>Cancer care and treatment | GenesisCare AU</u></a><span style="font-weight:normal;"></span><br><br><span style="color:rgb(31, 31, 31);">GenesisCare is the largest provider of cancer care services in Australia, and have cancer treatment centers in the United States, United Kingdom, and Spain. The company was founded by Dan Collins in Brisbane in 2005. China Resources Group and Macquarie Capital bought 56% of the company for A$1.7 billion in July 2016.</span><br><br><span style="color:rgb(0, 29, 53);"><b>Noosa Radiology</b></span><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://noosaradiology.com.au/"><u>Noosa Radiology - Complete Imaging Care - Noosa Radiology</u></a><span style="font-weight:normal;"></span><br><br><span style="color:rgb(31, 31, 31);">Locally owned & operated, Noosa Radiology is one of the largest radiology clinics in the Sunshine Coast, Gympie and Fraser Coast regions. Established by Dr Drew McMenamin in 2009, we are proud to introduce the latest in radiological equipment, techniques and dose reduction technology.</span><br><br><span style="color:rgb(0, 29, 53);"><b>AppleBerries Early Education Service </b></span><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://www.appleberries.com.au/"><u>AppleBerries Early Education Centres</u></a><span style="font-weight:normal;"></span><br><br><span style="color:rgb(31, 31, 31);font-weight:normal;">AppleBerries Early Education Service is your child's home away from home. We have childcare centres, located in </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="https://appleberries.com.au/Location/Beenleigh/">Beenleigh</a><span style="color:rgb(31, 31, 31);font-weight:normal;">, </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="https://appleberries.com.au/Location/Kallangur/">Kallangur</a><span style="color:rgb(31, 31, 31);font-weight:normal;"> and </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="https://appleberries.com.au/Location/Burnside/">Burnside</a><span style="color:rgb(31, 31, 31);font-weight:normal;">, </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="https://appleberries.com.au/location/Noosaville">Noosaville</a><span style="color:rgb(31, 31, 31);font-weight:normal;">, </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="http://appleberries.com.au/location/Caboolture-South">Caboolture South</a><span style="color:rgb(31, 31, 31);font-weight:normal;"> and a new purpose-build service located in </span><a style="color:rgba(31, 31, 31, 1);font-weight:normal;display:inline;background-color:transparent;" target="_blank" href="https://www.appleberries.com.au/Location/Brookwater/">Brookwater</a>.
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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;margin-inline-start:0cm;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:inherit;font-weight:normal;padding-left:0px;">Underpinned by a new 10-year lease (with 3 x 10-year options) to GenesisCare, a global leader in cancer care with a network of state-of-the-art clinics.</span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:inherit;font-weight:normal;padding-left:0px;">Favourably located only 450 metres* from Ramsay Health Care’s 92-bed Noosa Hospital, an acute medical and surgical facility with a well-equipped emergency department.</span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:inherit;padding-left:0px;"><b>The only site within the Noosa Shire Council to be zoned “Community Facility – Healthcare” – offering significant planning advantages.</b></span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:inherit;padding-left:0px;"><b>Offering a unique value-add opportunity through development upside on 2,020m²* parcel of surplus land with a current development approval.</b></span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-style:inherit;font-weight:normal;padding-left:0px;">Boasting a well-diversified income stream underpinned by GenesisCare which offers various cross-referral opportunities, further enhancing the assets cashflow and quality.</span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);font-style:inherit;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Defensive tenancy profile underpinned by 71% medical and 7% childcare (by income).</span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Large 16,867m² landholding in prime Noosaville location</span></p></li><li style="list-style-image:none;margin-inline-start:0cm;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">7,290</span><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">m² of gross floor area</span></p></li></ul>
