College Junction Medical Centre
Clayfield, Queensland
PURCHASE DATE
December 2025
ADDRESS
695 Sandgate Road, Clayfield QLD
PURCHASE STRUCTURE
The Fund purchased 50% of the asset through its investment in the Westbridge Clayfield Medical Fund
LAND AREA
1,516sqm
NLA
2,949sqm
OCCUPANCY
100%
KEY TENANTS
Qscan
Asset Highlights
- Modern, purpose-built accommodation: The College Junction Medical Centre is a purpose-built, landmark healthcare asset constructed in 2017 comprising 2,949sqm of modern three-storey medical and ancillary retail accommodation with basement parking for 64 vehicles.
- Blue-Chip Tenancy Profile: The asset is fully leased with a WALE of 4.98 years and is anchored (55% of income) by Qscan to October 2032 Qscan is a national radiology service provider with more than 75 clinics across metropolitan and regional Australia.
- Diversified income streams: The cash flow is further supported by a diverse medical and retail tenancy mix including general practice, ophthalmology, mental health consulting, cosmetic nursing, real estate service and a coffee shop.
- Prime affluent location: The asset is located in Clayfield, an affluent inner-northern suburb of Brisbane some 6km from the CBD. The asset’s prominent position on Sandgate Road, a major arterial thoroughfare connecting to Brisbane’s CBD, provides a highly accessible destination for healthcare users of all ages. The area offers high amenity appeal and hosts a variety of retail, medical and office assets.
- Attractive lease structures: The current lease profile offers significant in-built income growth with fixed rent reviews of 3.5-4%. All tenancies are on a favourable net lease arrangement, insulating from future increases to statutory and variable outgoings.
- Future expansion potential: The building has been designed to accommodate an additional storey, adding a further 758sqm of gross floor area equating to a 26% uplift in building area (STCA).
- Yield Opportunity: The purchase yields are above long-term average yield for medical assets of 6.00% (source: JLL).
Property Location
The property is located in Clayfield, an inner-northern suburb 6km from the Brisbane CBD. The surrounding catchment would be described as affluent with the median personal income approximately 40% above both Queensland and greater Australia. This ensures strong access to healthcare services, stimulating future occupier demand.
The asset is situated on a high-profile arterial road and benefits from over 51,000 passing vehicles daily.
