Heathley Lists $40m Industrial Portfolio to Focus on Healthcare

Heathley Asset Management continues to pursue healthcare as a property focus, listing a $40 million industrial portfolio with assets in NSW and Victoria.

The assets, marketed by CBRE and Colliers International, include 1 Johnson Road, Campbelltown in NSW and 1304 Ferntree Gully Road, Scoresby, VIC.

The offering provides a total building area of 24,365 square metres and site area of 44,914 square metres, WALE of 9.01 years, and a combined net income of $2,321,097 per annum.

There was strong demand for industrial investment sales in 2017 across Victoria, with transaction value up 43 per cent, while New South Wales sales were down 18 per cent due to the limited availability of stock on the market.

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Both industrial assets are strategically situated in close proximity to major arterial road networks and will benefit from surrounding government infrastructure projects over the next four years.

“Investors are rarely presented with the opportunity to acquire an eastern seaboard industrial portfolio of this quality,” CBRE’s Chris O’Brien said.

The sales listing was further illustration of how Heathley has begun to lean further into the healthcare property sector, focusing on their investment strategy of acquiring a diversified portfolio of strategically located medical properties throughout Australia.

Earlier this month the company successfully purchased a medical centre in Yarrabilba Estate for about $11 million on a tight yield of 6.45 per cent.

In 2017, they also acquired three properties for a second multi-property healthcare property trust in October 2017.