Top South Australian Cancer Centre Transacts Off-Market for $92.75 Million


Top South Australian Cancer Centre Transacts Off-Market for $92.75 Million

The Tennyson Centre has sold for $92.75 Million in an Off-Market Transaction

Vital Healthcare Property Trust have recently secured the Tennyson Centre in what was a significant Off-Market transaction located in Kurralta Park, South Australia.

Sold by Knight Frank team of Senior Sales Executive Jack Dyson and Head of Capital Markets Guy Bennett, the large off-market deal transacted for $92,750,000, generating a passing yield of 4.7%*.

The buyer, ‘Vital Healthcare Property Trust' is formally run by Canada’s NorthWest Healthcare Properties, who provide quality healthcare real estate investments in 7 countries across the globe. 

Containing a net lettable area of 6,568sqm*, the medical facility is fully leased to one of Adelaide’s leading Cancer Centres of Excellence, and features other premium tenants including Genesis, Nexus, Clinpath and Dr Jones & Partners. 

The sale of this Adelaide facility also contains considerable development upside by way of a 1,920 sqm parcel of land adjoining the established medical centre.

Commenting on the significant transaction, Mr Dyson said “The healthcare/medical sector has become a key focus for national and international REITs as the Covid-19 pandemic highlights essential services as a secure investment."

"The sale of the Tennyson Centre is one of the largest medical transactions to occur in South Australia in the last 3 years."


* - Approximately


About the author
Jamie Muscatel
Jamie Muscatel
41 contributions
Joined Jan, 2021
Jamie is our in-house curator of property news & content and heads the off-market 'Engage' smartphone application (freely available to download via the app store). He has spent a lot of time dealing with Agents across the property development sector with launching new marketing campaign strategies and brings his expertise to Ready Media Group.

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