In one of the country’s most sought-after asset classes, the On Point Medical Centre at Wellington Point is up for sale via auction.
Located at 687-689 Old Cleveland Road E, On Point Medical Centre is a near new purpose built medical centre.
This medical investment comprises 1,796sqm of lettable area that is fully leased with a long 6.07* year WALE.
Ray White Commercial Queensland agent Michael Feltoe said the asset offers a complimentary mix of medical and health related tenants including Pharmacy @ Wellington Point, Every Bodies Health Clinic, My Audiology, and East Coast Compounding Pharmacy.
“Medical investments are one of the most sought after asset classes due to their resilient and defensive qualities,” Mr Feltoe said.
“This has been especially evident since covid first entered our shores.
“There have been very few medical centres offered for sale in 2021 and demand has significantly outstripped supply.”
Ray White Commercial Queensland agent Lachlan O’Keeffe said the property was strategically located in the established precinct of Wellington Point which is just 21km east of the Brisbane CBD.
“The property is situated on a 3,004sqm land parcel with 50m of direct frontage to over 16,600 vehicles that use Old Cleveland Road E daily,” Mr O’Keeffe said.
“In the current climate, this is a rare opportunity to secure a ‘pandemic proof’ medical investment with significant depreciation benefits.”
The auction will be conducted at Level 26, 111 Eagle Street, Brisbane City, on Friday, September 10, at 10:15am.
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Media contacts:
Michael Feltoe
Retail Investment Sales
Ray White Commercial QLD
0447 714 899
michael.feltoe@raywhite.com
Lachlan O’Keeffe
Retail Investment Sales
Ray White Commercial QLD
0413 464 137
lokeeffe@raywhite.com
Cassandra Glover
Media advisor
Ray White Group
0447 000 472
cglover@raywhite.com
