The team said this sale reflected the strength of the emerging freehold aged care sector, noting that they had observed particularly aggressive investment sentiment toward opportunities within the space.
Mr Caspani-Muto said; “For a segment of the market that has been chronically undervalued in years gone by, there is a strong buyer pool developing.
“With 20% of the country’s population forecast to be aged over 65 by 2037 (up from 15% at present) and government funding generating circa 72% of revenue for the sector, the underpinning factors for a successful investment are all in place.”
Mr Tat added; “As the market continues to grow and it garners more mainstream media and investor attention, we expect activity in the space pick up.
“We think traditional yields of 7%-8% will sharpen in the next 12-18 months, which will add to the continual uptick in market activity.”
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