Private Investor Acquires Arana Hills Dental Care Facility for $2.4 Million

A private offshore investor has purchased DentArana for $2.4 million following a highly competitive expressions of interest campaign.

Located in the heart of the strata-titled Patrick’s Place, on the corner of Dawson Parade and Patrick’s Road in Arana Hills, the sale was negotiated by CBRE’s Harrison Coburn, achieving a yield of 5.88%.

The single tenanted allied health facility is secured via a seven-year net lease to National Dental Care (NDC), a national operator with over 80 locations across the country.

Of the DentArana sale, Mr Coburn said, “The campaign generated significant interest, which was not surprising given that NDC are one of the largest dental providers in Australia. Fitting out a dental practice is an expensive process, and we typically see these operators remain in the same location long-term, making it an attractive investment for buyers.

“The buyer was seeking a long term and secure investment for their family. Following the resumption of one of their properties by the Department of Transport & Main Roads, they needed to act swiftly to align the key milestones of each transaction.”

This was the second successful transaction brokered by Mr Coburn within the complex in the past two months, following the sale of Red Rooster for $2,385,220 representing a yield of 5.5%, with a combined total of almost $5 million in sales.

“Similar to the Red Rooster transaction, we expect the strong demand to continue for these single-tenanted opportunities well into 2025, particularly those backed by such strong covenants like NDC,” Mr Coburn added.