The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
6
print
Print
OtherTue 24 Mar 20

Fortuitous Timing for Fledgling Healthcare Real Estate Fund

8d76a21a-c644-4ea8-8e46-3ea915170018

Amid the unprecedented global health challenge of coronavirus, ASX-listed Elanor Investors Group has seeded its unlisted healthcare real estate fund with the purchase of two Queensland medical office buildings.

The fund paid $123.3 million for the two assets: an office building on a 5, 771sq m corner site at 55 Little Edward Street, in Brisbane’s Spring Hill, and the seven-storey Pacific Private Clinic at 123 Nerang Street, Southport, on the Gold Coast.

Both properties are multi-tenanted medical offices and day surgeries in established health precincts in city fringe locations—and in a sector that analysts are forecasting will fare better than others in the wake of the coronavirus crisis.

Cushman & Wakefield’s Mike Walsh and Peter Court brokered the off-market package deal, which settled on 16 March against a backdrop of uncertainty in real estate markets, as valuers lose confidence in measuring the underlying value of commercial assets.

Elanor’s co-head of real estate, David Burgess, said the acquisitions were a positive start for the fund.

“The seed assets represent high investment quality commercial healthcare properties, underpinned by strong anchor tenants."

▲ A multi-tenanted medical office and day surgery at 55 Little Edward Street in Brisbane's Spring Hill is one of two properties purchased by Elanor Investors Group as part of a $123.3m deal to seed its new unlisted health care fund.


With healthcare expenditure already growing at more than two-and-a-half-times the GDP, Elanor’s stated investment strategy of tapping into a demand for efficient health care service delivery models seems all the more prescient in the face of the current global health crisis.

Elanor chief executive Glenn Willis said the group was positive about investment prospects within the growing Australian healthcare real estate sector.

“We have been actively reviewing the broader healthcare real estate sector for some time and the establishment of this Fund represents the fourth real estate investment sector of focus for the group,” Willis said.

Even before the outbreak of the Covid-19 virus, attractive yields and low income risk were already driving demand for healthcare assets in Australia, spurred by the nation’s ageing population.

A recent Urbis report predicted that heavy spending on the health sector would continue into the next decade, leading to thousands of new jobs in the health care and social assistance industries.

OtherOfficeHealthcareAustraliaReal EstateDeal
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Without the $135.98-million injection it is claimed the Logan City Council would have had to stop approving new housing …
LATEST
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/fortuitous-timing-for-fledgling-health-care-real-estate-fund