Latest news with #medicalproperty
Irish Times
02-07-2025
- Business
- Irish Times
Private investors pay €4.75m for medical-use portfolio
A group of investors represented by MNK Partners has secured an uplift of 36 per cent on its original outlay of €3.5 million in a fully let medical-use property portfolio distributed across Dublin , Kildare and Clare . The investment comprising four assets in Lucan, Maynooth and Ennis has been sold for a total of €4.75 million to two private investors, having been offered to the market by agent Colliers at a guide price of €5 million in February of this year. The details of the portfolio are as follows: Ballyowen Lane, Lucan, Dublin This property, located on the first floor of a well-established medical facility, is fully let to Centric Health Primary Care Limited and is generating €101,365 annually in rent. The lease expires in 2039, providing an unexpired term of 14.8 years. The property is guiding at €1.5 million, reflecting a net initial yield of 6.1 per cent and a capital value of €219 per sq ft. Ballyowen Castle, Lucan, Dublin This ground-floor medical unit is occupied by Centric Health Primary Care Limited, producing a passing rent of €32,010 a year, and with an unexpired lease term of 14.8 years. The guide price of €485,000 reflects a net initial yield of 6 per cent and a capital value of €245 per sq ft. READ MORE Unit 2, Manor Mills, Maynooth, Kildare Located in Manor Mills Shopping Centre, this medical suite is occupied under a long-term lease by Centric Health Primary Care Limited, generating €25,000 annually. The lease expires in 2039, offering an unexpired term of just under 15 years. The guide price of €400,000 reflects a net initial yield of 5.68 per cent and a capital value of €236 per sq ft. Francis Street, Ennis, Co Clare This property is let to Centric Health Primary Care Limited, the OPW and Claremed Pharmacy, and is generating a gross rent of €256,115 a year, with an unexpired lease term of 7.21 years. The property is guiding at €2.6 million, reflecting a net initial yield of 7 per cent and a capital value of €282 per sq ft. One purchaser acquired the Ennis property, while the remaining three were acquired by another investor. The sales completed just three months after the portfolio was brought to the market, with all transactions closing simultaneously. Niall Delmar of Colliers handled the sale on behalf of MNK Partners. He said: 'The portfolio attracted good interest, particularly from private investors focused on long-income opportunities. There's clearly still demand for secure, income-producing assets from local private investors and we're pleased to have delivered a combined net initial yield of 6.9 per cent.' 'The transaction underscores the ongoing appeal of healthcare investments, driven by stable occupational performance and long unexpired lease terms. Despite wider market uncertainty, investor appetite remains firm for essential-service assets offering reliable returns.'
News.com.au
18-05-2025
- Business
- News.com.au
Torquay dental clinic has buyers grinning amid sharp return
There's a well-founded reason why buyers have a healthy obsession with medical property assets. They pay off. A purpose-built dental facility for Surfside Dental at Torquay was snapped up at auction for $3.01m, setting a sharp 4.38 per cent yield as investor demand for healthcare assets continues to grow. Charter Hall swoops on major Geelong shopping centre in $146m off-market deal The 250sq m clinic built in 2023 was listed for sale with a strong lease covenant to National Dental Care, set around a five-year lease with options to 2044, returning a net annual income of $132,000, with 3.5 per cent fixed annual increases. Darcy Jarman, Geelong agent Andrew Prowse said the region's healthy population growth was driving not only the development of new healthcare facilities, but making them highly sought after when they come on the market. 'Healthcare assets remain a top performer, delivering long leases, essential services, and resilience in any economic climate,' Mr Prowse said. 'Torquay's transformation into a dynamic coastal precinct is boosting the appeal of properties like this.' Mr Prowse said the appeal of healthcare assets was underpinned by the high population growth in corridors such as Torquay. Healthcare assets offer investors the protection of stable demand for services, in particular due to an ageing population and also population growth. They often come with long-term leases, providing investors with stable income streams. The sale of the 1013sqm property at 80 Geelong Rd was managed by Darcy Jarman agents Tim Darcy and Mr Prowse, in conjunction with Tim Carson at McCartney real estate. The property previously sold as a house in 2019 for $1.16m. The established operator, National Dental Care, also underpinned the level of interest in the property, with investors being increasingly drawn to the combination of secure returns and long-term capital growth in vibrant markets. The sale follows $3.5m sale of a long-established Lara medical centre leased to health insurer and healthcare operator GMHBA. That facility was on the edge of a new growth corridor to the west of the town. Healthcare assets in Geelong, Grovedale, Corio and Hamlyn Heights have also been snapped up recently.
