Medical centres are what the doctor ordered for Ipswich
MEDICAL practitioners and consultants are being offered dual opportunities to seal leases in Ipswich, as redevelopment and construction opens a myriad of options.
The Ipswich CBD Health Centre, historically used as the Ipswich courthouse, will have an extensive refurbishment undertaken at 59 East St, and just down the road in Yamanto, stage 2 of 442 Warwick Rd is now in planning after the completion of stage 1.
The two assets are being marketed and leased by Ray White Commercial Queensland father and son duo Stephen and Elliot Kidd.
"Both these sites offer fantastic opportunities for medical practitioners and consultants to take advantage of an ever-growing Ipswich with a growth rate in excess of three per cent per annum," said Mr Stephen Kidd.
"Buyer demand for medical assets remains strong with 5-10 year leases backed by national companies considered strong covenants and very popular with both investors and financiers.
"We've seen sales ranging between 5.5 per cent and 6.5 per cent net - especially in southeast Queensland for these sorts of assets.
"Tenants are in expansion mode driven by government subsidies, an ageing population and international visitors coming to Australia for our high quality of care and accountability."
442 Warwick Rd in Yamanto is a retail destination seven minutes from Ipswich CBD.
"The property adjoins the Amberley State School and currently comprises a Hungry Jacks, KFC and 500sq m of commercial building," Mr Elliot Kidd said.
"The landlord plans to extend the 500sq m building up to 1500sq m to utilize the current DA. Leasing opportunities between 100sq m and 1500sq m gross floor area are available at indicative rates of $450psqm to $550psqm.
"The site is also part of the Yamanto secondary Business Centre which will eventually include a new town centre and a substantial homemakers centre, directly opposite the subject property.
"The opposite site is mooted to be under consideration by one of the new supermarket chains heading to Australia.
"The property enjoys a high-profile location on Warwick Rd, which is the major road connecting Ipswich CBD to the Cunningham Highway, one of the main routes connecting Brisbane with Toowoomba.
"59 East Street is an iconic building in the heart of growing Ipswich. Previously used as the Ipswich courthouse, the new owners intend to carry out an extensive refurbishment to transform and expand the building into a modern health facility.
"Leasing opportunities available range between 100sq m and 7,400sq m across three levels at indicative rates of $350psqm to $450psqm.
"It's in the heart of Ipswich CBD, surrounded by several major medical, government and retail buildings. These include the Hayden Humanities Centre, Coles Supermarket, Officeworks, Ipswich Library, Centrelink and the Ipswich Public Hospital."