[+] Brisbane Deals Underscore State of Healthcare Sector

Healthcare has moved from an alternative investment class to a core class as the sector’s popularity skyrockets among existing and new players.

In this TUD+ Briefing, Cushman and Wakefield’s Mike Walsh, director, joint head of middle markets, Queensland, outlines his company’s role in several major deals in the Queensland capital by Silverstone Developments, as well as how he sees the state of the healthcare asset sector.

Silverstone divested two prominent development sites in central Brisbane for $131 million, 525 Boundary Street in Spring Hill and 43 Butterfield Street in Herston—acquired by Dexus in June.

In October, it sold the-then under-construction headquarters of healthcare group the Mater in Newstead to Charter Hall for $122.5 million.

Walsh said these transactions spoke to the strength of the sector, which had increased during the pandemic.

“Healthcare as an asset class has always been strong but Covid has highlighted and magnified the class even more,” he said.

“It is a resilient and defensive income play for these groups.”

He said the combination of existing players, new players, a lack of stock and low interest rates had created the perfect environment for the sector to flourish, and that would not be changing dramatically any time soon.

“As long as owners bring these assets to market we’re going to keep seeing cost benchmarks being reset,” Walsh said.

“I don’t see that slowing down.”

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Article originally posted at: https://www.theurbandeveloper.com/articles/healthcare-assets-silverstone-cushman-wakefield