Leased Healthcare Asset for Sale in Nedlands

A leased healthcare asset opportunity in the heart of Nedlands Hospital precinct has been listed for sale, amid the continued strength of demand for medical related investments. 

Located in Hampden House, at 174 Hampden Road, the 552sqm tenancy comprises the whole of level 2 and is occupied by Linear Clinical Research, a global medical research provider and subsidiary of the Harry Perkins Institute.  

The new five-year lease provides income security, with a net face rent of $228,840 per annum and guaranteed growth via annual increases fixed at 3.25%.  

CBRE’s Derek Barlow and Lachlan Andrew have been appointed to manage the sale, with Offers to Purchase of Interest closing September 22.  

“Linear Clinical Research-leased assets have proven to be sought-after investment options, with a strata building in Joondalup transacted by CBRE in May 2022 on an initial yield of 5.62%,” Mr Andrew said.  

Hampden House is located 200m away from the QEII Medical precinct, comprising Sir Charles Gardiner, Perth Children’s Hospital and Hollywood Private Hospital, and will benefit from the new $1.8 billion government investment in the precinct’s Women and Babies Hospital. This investment is commencing in 2023 and will create 1,400 jobs in the precinct.  

Linear’s commitment to the location will be boosted by another 40 clinical trial beds in the new $750 million WA Comprehensive Cancer Centre at the QEII Medical precinct.  

“Medical-related assets have emerged from the COVID-19 pandemic offering recession resistant lease covenants and a solid government funding support base. In the case of Hampden House, the asset is also situated in a developing catchment, which will further underpin future demand for the precinct,” Mr Barlow said.