SOCIAL INFRASTRUCTURE

Vitality Village inject excitement into healthcare investment market

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BIRTINYA’S award-winning Vitality Village healthcare facility has entered the market, with high expectations of investor demand.

Situated within the country’s largest healthcare hub, the $5 billion Sunshine Coast Health Precinct, Vitality Village at 5 Discovery Court, was opened in July 2021 and boasts 4,636sqm of GFA across five floors.

CBRE’s Michael Hedger, Rem Rafter and Louisa Blennerhassett has been appointed to manage the sale of the facility, via an expressions of interest campaign, on behalf of Double R Group.

The property is expected to fetch over $32 million.

“Vitality Village has been designed to provide a truly collaborative health and wellbeing environment to identify and deliver significant improvements to healthcare and wellbeing through collaboration between providers, innovators, researchers, and the community,” said Rafter.

The asset is the first health and wellbeing facility of its kind in Australia and was awarded two gold medals at the Brisbane Design Awards 2022.

Sitting 12km south of Maroochydoore, the facility has a 4.4-year WALE and is 35% leased to one of Queensland’s largest age care providers, Commlink Australia.

“We’re witnessing strong demand in the health investment sector in Queensland. Given its close proximity to the Sunshine Coast private and public hospitals and an income profile that is highly weighted to the healthcare sector, we anticipate high levels of interest,” added Hedger.

Vitality Village is also set to bene from the proposed Sunshine Coast Transit Corridor, which includes plans for a rail link through Birtinya.

“The Sunshine Coast has been the subject of significant development in the past five years, which is fueling growth and opportunity within the region,” said Rafter.

“In particular, there’s a strong focus on the growth corridor between Caloundra and Maroochydore, with Vitality Village ideally located to serve the community.”

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