Meadowbrook's Medical Precinct Thriving
9 University Drive, Meadowbrook situated in the Campus Business Park adjacent to the Logan Motorway has changed hands for $2.26 million.
The set and forget investment property has been snapped up by a Sunshine Coast-based family.
A modern tilt panel building developed by De Luca Constructions, tt was previously owned by Applied Medical Services Of Australia, which had occupied the building until its business was sold to Abacus ALS who lease the premises.
Raine & Horne Commercial’s Nick Comino, who struck the deal with colleague Greg Tate, said the building was sold on a yield of 8%.
“The property is in a well-known medical precinct – you have Logan City Hospital up the road, a Queensland Health office nearby and a lot of health-related ancillary businesses,” Mr Comino said.
The building is 1345sq m with 685sq m of office/training rooms and the rest warehouse. It is on a 2005sq m of land.
Mr Tate said sub-$3 million property market was popular at the moment.
“The inquiry for a well tenanted, good quality building under the $3 million is very strong. Twelve months ago the sub $2 million market was popular but since then yields have tightened, interest rates are lower and there are less available properties of this calibre.”