BRISBANE, November 1, 2021 – the JLLs Tim Jones, Simon Quinn and Sam Byrne from the Metropolitan Sales & Investments team sold 1/36 Edmondstone Road in Bowen Hills in the North Interior of Brisbane for $ 20,500,000 to RAM Group in an off-market deal.

The modern 2,158 m² building has been recently renovated to accommodate the medical occupant, a group specializing in fertility, and includes an embryology laboratory, andrology facilities, intervention rooms, recovery areas, consultation and analysis rooms as well as patient waiting areas and training rooms. The property also benefits from excellent natural light, generous ground level parking and exposure to a main thoroughfare on Edmondstone Road.

The specialty facility was sold with a 10-year WALE for $ 20,500,000, which represents an initial return of 4.74% which reflects $ 9,499 / m² on NLA.

JLL Tim jones said, “Over the past few years, this area adjacent to Perry Park in Bowen Hills has gone from housing largely secondary office warehouse-style buildings to a predominantly medical area.”

The Bowen Hills Specialty Medical Center was arguably the catalyst project, but the good parking ratios, relative affordability, proximity to rail tracks, and access to affluent residential catchment areas all helped secure occupants. medical in the compound, ”he said.

Simon quinn, Director of Alternative Investments for JLL, said: “Healthcare real estate continues to perform well despite the defensive nature of the asset class. “

“We have seen an influx of capital seeking placement as more and more investors focus on the sector. This results in significant capital growth for medical centers, day hospitals and private hospitals. “

The sale represents more than $ 150,000,000 in settled transactions in Bowen Hills, Newstead and Fortitude Valley in 2021 for the JLL Metropolitan Sales & Investments team.

RAM Real Estate Director Will Gray said the Bowen Hills property is secured by a long-term contract on favorable purchase measures and is a fantastic addition to RAM Essential Services REIT.