10 March 2021

Centuria Secures trio of Healthcare Assets for $57.3m

  • Acquisitions increase the unlisted open-ended fund, CHPF’s, portfolio to 10 assets worth $219.9m1
  • Fund’s WALE increased to 6.4 years while occupancy remains at 100%2
  • Centuria Healthcare’s portfolio expands to $1.0bn AUM3

Centuria has secured $57.3 million worth of private healthcare real estate across the eastern seaboard for its unlisted open-ended Centuria Healthcare Property Fund (CHPF).

The transactions include the modern, three-level $23 million Coffs Harbour Specialist Centre (NSW), which is anchored by the NSW Government’s Mid North Coast Local Health District (MNCLHD). The c.3,400sqm property is located at 343 Pacific Highway within the Coffs Harbour health precinct, adjacent to the major regional public hospital undergoing a $194 million development.

The second acquisition is the $21.6 million Cairns Day Surgery (QLD). The two-level, c.2,470sqm short stay hospital is anchored by Ramsay Health Care. It’s located at 156-160 Grafton Street, within a short distance of the Cairns Hospital (public) and Cairns Private Hospital.

The final asset is the $12.7 million Murrumba Village Medical Centre (QLD), located at 1613 Anzac Ave, Murrumba Downs. It will provide allied and ancillary health services upon the building’s completion in March 2022.

Andrew Hemming, Centuria Healthcare Managing Director, said, “Since we launched CHPF in late August 2020, investor appetite has been strong. The Fund is continuing to expand its portfolio, which is aligned with our strategy to secure modern, purpose-built assets that lend themselves to efficient and effective models of care.

“These new transactions align to our strategy, enabling us to deliver monthly income returns4 to our investors. Our last capital raise before Christmas saw the fund substantially oversubscribed. Needless to say, our focus remains on meeting investment demand for high-quality healthcare assets.”

The transactions increase the pure-play unlisted open-ended healthcare fund’s assets under management (AUM)5 to 10 properties worth $219.9 million1,2.

CHPF has already generated a bookbuild of c.$22 million for its third equity fundraise. Since the Fund’s launch, it has raised $107 million to date. Its last fundraise in November/December 2020 was oversubscribed.

CHPF has a target distribution rate of 5.75cpu6 for FY217 with the potential for capital growth.

Centuria Healthcare’s portfolio across Australia totals $1.0 billion3.


1. Distributions will be paid if declared by Centuria Property Funds No. 2 Limited and will be subject to the terms set out in the PDS. Past performance is not a reliable indicator of future performance

2. Includes 85% direct interest in Bloomfield Medical Centre, Vermont South Medical Centre and Sundew Day Surgery and Hobart Day Surgery and the indirect investment in these properties via Nexus Property Unit Trust

3. Includes a management fee rebate/deferral from the manager

4. The target distribution rate is not a forecast, is predictive in nature and is subject to assumptions, risks and circumstances (both known and unknown) outside of the control of Centuria Property Funds No. 2 Limited.  These assumptions include that the pipeline properties will be acquired by CHPF and that funding will be secured at a particular interest rate.  The actual returns may differ from the target return.  Centuria Property Funds No. 2 Limited do not guarantee the performance of CHPF, the repayment of capital or any income or capital return.

5. Includes 85% direct interest in Bloomfield Medical Centre, Vermont South Medical Centre and Sundew Day Surgery and Hobart Day Surgery and the indirect investment in these properties via Nexus Property Unit Trust

6. Includes a management fee rebate/deferral from the manager

7. The target distribution rate is not a forecast, is predictive in nature and is subject to assumptions, risks and circumstances (both known and unknown) outside of the control of Centuria Property Funds No. 2 Limited. These assumptions include that the pipeline properties will be acquired by CHPF and that funding will be secured at a particular interest rate. The actual returns may differ from the target return. Centuria Property Funds No. 2 Limited do not guarantee the performance of CHPF, the repayment of capital or any income or capital return.