The Centuria Heathley Medical Development Fund No. 1 is an unlisted medical property development fund. The Fund aims to provide development returns to Investors through the acquisition of a 40% interest in two adjoining sites and the development of two multi-storey, multi-disciplined medical properties.
|Type||Single Asset Property Development Fund|
|Status||Closed for Investment|
|Fund Commenced||April 2017|
|Fund Term||26 months|
The Fund’s Investment Strategy is to achieve superior risk adjusted returns for Investors by participating in a medical property development jointly with an experienced developer, Pikos Group (and associates). The Project’s strategy will be to reduce development risk by obtaining full development planning approval for a substantial medical property development and agreements for lease over the majority of the net lettable floor area before securing a Fund through Buyer to acquire (at a minimum) the Fund’s 40% interest in the approved and preleased Project. The Fund-through Buyer will then fund the majority of the Project through to practical completion, realising development profit for the Fund.
Approx. $17.5 million (Land Only)
TBA; (52) a mix of operators across primary and secondary (day surgery, plastics, radiology, IVF, diagnostics) health sectors, as well as allied and ancillary sectors; (64) allocation of one full building to aged care/retirement living