Healthy returns from outside capitals: Burgess Rawson
The sale of a medical warehouse in Armidale is evidence that the healthcare industry is driving sales activity in regional cities, says Burgess Rawson.
Purpose-built by global medical supplies wholesaler Aero Healthcare in 2013, 63 Seaton Street has been sold by Burgess Rawson for $4 million on an 8 per cent yield after an expressions-of-interest campaign.
The building, which sold with a seven-year leaseback with seven-year option to Aero Healthcare, sold to a private investor.
“A private retiree investor based on the South Coast purchased this quality investment asset,” Burgess Rawson director Simon Staddon said.
“The purchaser had been looking for a long-term investment for some time and this asset satisfied their requirement as medical related businesses are generally solid and have good growth prospects.”
Aero Healthcare operates out of five countries, selling wholesale medical products online.
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