Social infrastructure auction taps into healthy demand

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HEALTHCARE facilities in Melbourne and Adelaide will go under the hammer later this month in what is being billed as Australia’s first dedicated portfolio auction in the sector.

Sites in Montrose in Melbourne’s eastern suburbs and Sydenham to the north west are accompanied in the auction event by a property in Mile End, west of the Adelaide CBD.

CBRE’s maiden Australian healthcare & childcare portfolio auction will be held in Melbourne on August 24th and is being handled by Sandro Peluso, Jimmy Tat, Marcello Caspani-Muto, Harry Einarson and Mitch Curnow.

Buildings range from 252 sqm to 647 sqm and all three properties are occupied on long-term leases. Sia Medical occupies the Montrose property on a seven-year deal with dual five-year options, Capital Radiology has a five-plus-five-year agreement at Sydenham and The Sports and Arthritis Clinic has a 10-year lease in Mile End.

Peluso said healthcare investments are incredibly rare in the broader commercial market, with only a handful transacted each year, mostly to high-net-worth privates or institutional buyers.

“When you talk about medical investments in the sub-$10 million bracket this scarcity is compounded, and we regularly hear from private investors seeking quality opportunities in this space.

“This lack of availability fuelled our team’s desire to develop a dedicated auction event, giving private investors a platform to compete on a level and transparent playing field for what might be the only assets of this type offered in 2022.”

Tat said, “Given how entrenched each operation is within its local community, these really are long-term investment prospects”.

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