Healthcare assets in high demand from owner occupiers

Healthcare assets are still demanding premiums with a Norman Park asset selling under the hammer for more than $300,000 over its reserve.

Located at 60 Hume Street, the property attracted four registered bidders on auction day, with the winning bid going to an allied health owner occupier for $1.64 million.

The 405sqm block comprised a commercial premises and three-bedroom home.

Brought to market for the first time in 40 years, the property was marketed by Ray White Commercial QLD managing director and partner Michael McCullagh.

“It was a highly competitive auction, especially between three of the bidders who were medical or allied health owner occupiers,” Mr McCullagh said.

“These buyer groups remain very active as they have been over the last few years and with limited buying opportunities they don’t want it to slip by.

“They were all mainly attracted to the location and demographics of the catchment.”

Located just 4.4km from Brisbane’s CBD, Mr McCullagh said 60 Hume Street was situated in an enviable location.

“The property is positioned in an attractive inner-suburban location with access to local cafe’s, restaurants and transport amenities, including the Norman Park Train Station, numerous bus routes along McIlraith Avenue and Bennetts Road, and nearby Mowbray Park Ferry Terminal,” Mr McCullagh said.

“Located in a rapidly growing area, 60 Hume Street is set to benefit from key infrastructure and transport upgrades in preparation for the Brisbane 2032 Olympic Games.

“The completion of the GABBA redevelopment and adjoining Cross River Rail project will see continual growth for the inner-east and capital appreciation into the future.”

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