Interstate Healthcare Investment Group Pays $10.57 Million for Margate Medical Centre

Stonebridge Property Group has sold a prominent Brisbane medical centre at 279-287 Oxley Road, Margate, to Annerley Group, a specialist healthcare real estate investment group based in Sydney. The property transacted for $10,570,000, reflecting a 6.59% yield, following a competitive Expressions of Interest campaign which attracted 166 enquiries and four competitive offers.

Margate Medical Centre is fully leased to long-standing medical and government tenants, anchored by Centrelink and Imaging Queensland, a subsidiary of ASX-listed Integral Diagnostics. The property’s short 1.90-year WALE provides almost immediate scope to reposition the property via lease negotiations.

Occupying a substantial 3,240 sqm corner landholding across two separate titles, the property benefits from District Centre zoning permitting development up to 12 metres in height. The dual-title configuration gives the incoming owner the choice of a whole-of-site redevelopment or a staged approach.

The asset holds a highly visible position within Margate’s convenience precinct, directly opposite the Woolworths-anchored Margate Village Shopping Centre, with exposure to more than 12,900 vehicles daily.

The sale was managed by Harrison Coburn, Michael Collins, Thomas Proberts and Aike Sakeson of Stonebridge’s National Portfolio team, which specialises in freestanding investments across Australia’s healthcare, fuel and convenience, childcare, fast food and retail sectors.

Jay Anderson, Co-Founder & Chief Investment Officer of Annerley Group, commented:

“What drew us to Margate was the combination of established healthcare services, good on-site parking and a prominent location close to Redcliffe Hospital. The size of the site and its two titles give it flexibility to accommodate a broader range of healthcare services over time and realise its longer-term potential.”

Harrison Coburn, Partner at Stonebridge, commented:

“A 1.90-year WALE was a major drawcard for investors throughout the campaign. Rather than assessing the property solely on its existing income, the purchaser recognised the underlying value of a substantial corner holding in an established Brisbane precinct. Offering two separate titles, versatile zoning and a quality healthcare anchor, the property provides multiple pathways for the incoming owner to unlock value over time.”

Thomas Proberts, Associate Director at Stonebridge, added:

“Brisbane’s continued population growth is strengthening the appeal of well-located commercial landholdings, particularly those offering flexibility beyond their current use. Investors are increasingly prepared to look beyond traditional lease metrics where the underlying real estate presents a compelling opportunity. Interstate buyers in particular are recognising the long-term value of Brisbane landholdings that pair secure income with genuine repositioning potential.”