Case Studies

24 Spendelove Street, Southport

The subject property is a Sub-Accute Hospital and the sale included both the property and going concern Business. The property was located within the Medical Precinct of the Southport CBD and was sold by Ray White Commercial for $3,400,000 inclusive property and business.

The hospital at 24 Spendelove Street, Southport was developed in the 1990’s and provides care for post-operation and post-illness patients who have not recovered to the point where they can return home. The three level hospital occupies a 969m²* site, has lift access and has a total floor area of 978m²*.

The facility became an accredited Private Hospital, licensed to operate 24 rooms, in July 2001 and is widely regarded as a five star resort for patient care.

The sale is indicative of purchasers seeking quality opportunities with the Southport CBD.
The national and locally focussed marketing campaign generated approximately 40 enquiries from a variety of sources.

The Expression of Interest Campaign drew 12 formal inspections resulting in 5 written Expressions of Interest and the property sold a short time later for $3,400,000 inclusive of property and going concern business.

Sales Analysis*
Land Area:969m²* (approx)
Total Area:978m²* (approx)
Vendor:R.S.E Nominees Pty Limited
Sale Date:16th May 2013
Sale Process*
Process:Sold after Expressions of Interest Date
Marketing Time Frame:15 months
Marketing Budget:$23,441.82
Registered EOI’s:5


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