Noosaville Medical Centre
Noosaville, Queensland
Located in the heart of Noosa’s established healthcare precinct, Noosaville Medical Centre is a prominent 16,901sqm medical campus situated just 450 metres from Noosa Hospital. The property combines regular income from essential healthcare services with multiple opportunities to enhance value over the investment term.
The Westbridge Medical Property Fund is seeking to acquire a significant stake in the asset, which is underpinned by 25 tenants, with a diverse mix of healthcare, childcare, allied health, government and professional service occupiers. Approximately half of the property’s income is supported by major tenants including GenesisCare, Noosa Radiology, Appleberries Early Education, Noosa Shire Council and Noosaville Clinic.
Noosaville is the sixth asset in the Westbridge Medical Property Fund portfolio, including assets in Bendigo and Croydon in Victoria, a medical complex in Greenfields, Western Australia, and two other Queensland assets in Clayfield and Hyde Park.
This opportunity may be the last chance to secure a spot in the Westbridge Medical Property Fund, as the Fund will soon be closing to all new investment in the coming months.
PURCHASE DATE
Settlement planned for November 2026
ADDRESS
90 Goodchap Street, Noosaville, Queensland
LAND AREA
16,901 sqm
NLA
9,744 sqm
OCCUPANCY
85% (excluding rental guarantees)
KEY TENANTS
GenesisCare, Noosa Radiology, Appleberries Early Education
Why we like it
- Significant corner landholding within Noosa’s healthcare precinct, less than 500m from Noosa Hospital.
- Acquired at an estimated 31% below replacement cost.
- The property incorporates specialised medical infrastructure including radiation therapy bunkers.
- Multiple opportunities to enhance value over the investment term including active leasing, with a potential rental uplift in year one, exploring subdivision for early/individual sell down.
- Diversified income supported by essential services and major tenants.
Asset Highlights
Essential Service Income
Healthcare property continues to benefit from long-term demand drivers, including Australia’s ageing population and increasing healthcare expenditure.
The Noosa region is particularly compelling, with an average age materially above Greater Brisbane, supporting sustained demand for medical services.
Premier Medical Precinct Location
Positioned on a prominent corner site with extensive frontage to Goodchap Street and Eumundi-Noosa Road, the asset benefits from exceptional visibility and accessibility.
Diversified Tenant Profile
Income is spread across 25 tenants operating within healthcare, childcare, allied health and ancillary services, reducing reliance on any single occupant.
Key tenants include GenesisCare, the largest provider of cancer care services in Australia; Noosa Radiology, Appleberries Early Education, Noosa Shire Council and Noosaville Clinic. Together these tenants contribute approximately 49% of total income.
There is also the potential for a significant rental uplift for one of the major tenants in year one.
Purchased Below Replacement Cost
The acquisition price represents a 31% discount to estimated replacement cost ($63 million), creating a substantial barrier to potential competing developments, supporting long term income growth.
The property also incorporates specialised medical infrastructure including radiation therapy bunkers occupied by GenesisCare and Noosa Radiology.
Multiple Value Creation Opportunities
As one of the only healthcare services-zones landholdings of scale in Noosa Shire, the investment strategy extends beyond passive income.
Westbridge intends to engage an active leasing strategy, explore subdivision for early/individual sell down, unlock near term rental reversion through the childcare market review, and the potential development upside with additional land parcel inclusion.
All options create value add appeal beyond the income potential.
Property Location
The property is located within the core of the Noosa health precinct, approximately 450 metres from Noosa Hospital and surrounded by established medical and community infrastructure.
The site occupies a prominent corner position with dual street frontage, providing strong visibility and convenient access via key local road networks, including connections to the Sunshine Motorway and broader Sunshine Coast region.
The location is supported by nearby public transport, extensive surrounding residential catchments and proximity to major amenities including Noosa Civic Shopping Centre and the Noosa River precinct, positioning the asset within an accessible and well-integrated healthcare hub.
The surrounding Noosa catchment is characterised by an affluent and established residential base, with a higher proportion of older residents relative to national averages, supporting sustained demand for healthcare services.
Register your interest in the Westbridge Medical Fund
To register your interest in the Fund or to learn more, please complete the form below and you will receive a copy of the information memorandum.