Savills : Blue-Chip Medical Investment in High Growth Adelaide Location

A state-of-the-art campus style medical property, underpinned by a long term lease to the SA Government backed Adelaide Health Services Incorporated, is being offered for sale at Elizabeth.

Savills has been exclusively appointed to sell the 100% freehold interest in the 16 Playford Boulevard property at Elizabeth via an Expressions of Interest campaign closing on 29 September 2016.

The modern purpose-built property comprises a standalone two-level centre incorporating the latest in cutting-edge medical facilities. The property features a net lettable area of 4,603sq m and is fully occupied by Adelaide Health Services Incorporated on a 20-year lease with two further five-year options.

Set on a prominent site area of 11,720sq m with three street frontages and parking for 186 cars, the property is strategically positioned to service the growing northern suburbs of Adelaide including the new Playford Alive master-planned community set to emerge as Adelaide's second CBD.

Rino Carpinelli, Managing Director, Savills South Australia, said 16 Playford Boulevard provides a rare combination of a modern state-of-the-art medical facility with an exceptional lease covenant in a prime high growth location.

'This is a unique opportunity for investors to secure a high quality medical centre securely leased to a government-back corporation with a AA-credit rating and situated in one of the fastest growing areas of Adelaide,' he said. 'The property boasts an outstanding location directly adjacent to one of Adelaide's largest regional shopping centres and in close proximity to the new Playford Alive city that is set to transform the wider Elizabeth region.'

The 16 Playford Boulevard property is positioned approximately 24km north of the Adelaide CBD. It is surrounded by a wide range of community services and amenities including the Elizabeth Shopping Centre, Elizabeth Magistrates Court, Elizabeth Police Station and is well serviced by a public transport.

The new landmark State Government planned digitally connected Playford Alive community is only 7km north of Elizabeth will comprise some 40,000 residents on completion, further bolstering the catchment of the Elizabeth precinct.

Peter Isaksson, Director - Capital Transactions, Savills South Australia, said the location of 16 Playford Boulevard is complemented by its modern medical facilities which serviced a total of approximately 110,000 visitors in 2015.

'Medical assets of this quality are one of the strongest performing and most highly sought after all commercial property assets classes. Given the well-established nature of this property, long-term lease profile and fast growing location, we expect there to be a very high level of investor interest in this rare offering,' he said.