Press Release
Global investor interest anticipated in Sonic Healthcare sale and leaseback opportunity
Brisbane
February 25, 2026
Media Contact
Communications Director
Leading global healthcare provider Sonic Healthcare is preparing to sell and leaseback the Sullivan Nicolaides Pathology laboratory headquarters in Brisbane, providing one of Australia’s largest life sciences investment opportunities.
The ASX-listed Sonic Healthcare is the world’s third-largest pathology group, with a reputation for excellence in laboratory medicine/pathology, radiology and primary care medical services across operations in Australasia, Europe and North America.
CBRE has been appointed to steer the global Expressions of Interest process for the Bowen Hills property, one of the most advanced facilities of its kind in the southern hemisphere.
The 24 Markwell Street facility is being offered for sale with a 20-year triple net lease, providing an initial rental of circa $25 million.
Sonic Healthcare’s CFO Chris Wilks said, “Our Bowen Hills laboratory is one of the most technically advanced laboratories in Australia. It is central to the critical diagnostic work performed by Sullivan Nicolaides Pathology every day. Our sale and leaseback of the property is part of our broader capital management strategy.”
The circa 43,500sqm Bowen Hills complex houses laboratories over multiple levels, with the most recent extension completed in 2024. The facility benefits from its strategic location, close to public transport, the Brisbane CBD, and surrounding hospitals.
Operating as the central pathology testing facility for an extensive network, the purpose-built, essential services/infrastructure asset receives daily samples from over 450+ collection centres and 20+ laboratories across Queensland, northern New South Wales and the Northern Territory.
CBRE Senior Managing Director Bruce Baker noted that investor interest in healthcare property opportunities had been rapidly increasing, amid projections that Australia’s healthcare and life sciences property sector could more than double in value by 2028 to $12.1 billion.
“As the most significant Australian asset of its kind to be offered to market, we expect the Sonic Healthcare facility to attract global capital seeking healthcare, infrastructure or long WALE investment opportunities. This interest will be underpinned by the 20-year triple net lease, the strength of the tenancy covenant and the facility’s high forecast replacement cost.”About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.