Landmark freehold aged care transaction in Port Macquarie a sign of strong tailwinds for the long WALE sector

Annerley Group has acquired the freehold interest of 1 Highfields Circuit, Port Macquarie, marking the first freehold aged care sale of a notable nature in a number of years.

The result reflects continued investor confidence in long WALE healthcare real estate, with Annerley Group acquiring the aged care asset as part of its disciplined expansion across essential healthcare infrastructure.

The property was transacted by CBRE’s Australian Healthcare & Social Infrastructure team of Marcello Caspani-Muto, Sandro Peluso and Jimmy Tat in an off-market capacity on behalf of the private developers and landlords.

The 107-bed, purpose-built home saw construction complete in 2022 and was leased to growing private operators Genbridge on a 30-year triple net lease with 4 × 10-year options. The asset’s unique mix of long-term income security, strong occupancy, high-quality improvements, and substantial depreciation profile are all the reasons CBRE forecast growth in the freehold aged care market in the years ahead.

Annerley Group Co-Founder and Chief Investment Officer Jay Anderson said, “This investment highlights our strategy of securing premier healthcare assets in locations with proven, essential demand. Being situated within an established medical precinct ensures this facility will meet the needs of the region’s growing senior population for years to come. This deal is representative of our current momentum as we continue to scale our fast-growing healthcare platform.”

CBRE Director Marcello Caspani‑Muto said the result reflects broader structural changes underway in the sector.

“This sale reinforces what we’ve been signalling for some time: over the next five years, we expect a substantial wave of freehold aged care divestment as operators increasingly separate their property and operating platforms to unlock scale, capital efficiency and growth. The depth of capital for high‑quality freehold assets remains extremely strong, and this result sets an important precedent for 2026. Watch this space, more and more syndicators and institutional buyers will be entering in short order and we are expecting some fairly notable yield compression as more success stories emerge,” Mr Caspani-Muto added.

National Director Sandro Peluso noted the outcome demonstrates the resilience of well‑located aged care investments.

“This asset featured so many positive attributes - long WALE, reputable covenant, highly quality modern construction and undeniable supporting demographics,” he added.