Leading wealth manager Atlas Advisors Australia has taken a significant investment in Brisbane’s Woolloongabba Community Health Centre in Brisbane.
Atlas Advisors Australia’s QCAX Australian Property Fund has partnered with Elanor Investors Group in the $37.25 million purchase.
Executive Chairman of Atlas Advisors Australia, Guy Hedley said the acquisition strengthened the strategic partnership between Atlas Advisors Australia and the Elanor group, which also spans joint investments into commercial office, shopping centres and wildlife parks across Australia.
The 4,150 square metre Woolloongabba Community Health Centre site is located close to Princess Alexandra Hospital and includes a 27-chair dental surgery and mental health administration services being fully leased to the Queensland Government’s Metro South Health Department.
Atlas Advisors Australia is a significant investor in the Elanor Healthcare Real Estate Fund which is now valued at more than $161 million. Other key assets include:
- A multi-tenanted medical office and day surgery at 55 Little Edward Street, in Spring Hill;
- A medical office and day surgery at the Pacific Private in Southport.
Mr Hedley said Atlas Advisors Australia its investment in healthcare real estate presented reliable and strong returns and long-term capital gains, all primely located in well-established health precincts.
“Woolloongabba Community Health Centre is another perfect acquisition in a buoyant health sector,” Mr Hedley said.
“We look forward to growing our relationship with Elanor Healthcare Real Estate Fund to partner in the acquisition of additional high quality heathcare assets in the future.”
Mr Hedley said healthcare was an area of interest for Atlas Advisors Australia.
“Day surgeries and private medical centres with allied health services including dentistry offer risk-adjusted returns and significant capital growth,” Mr Hedley said.
“Our investors benefit from long-term sector trends including the increased reliance upon these facilities to deliver cost-effective treatment and to relieve pressure on our public healthcare system.
“It is an effective way of delivering quality care as demands increase with our ageing population.”