Brisbane Private Hospital, Wickham Terrace, Brisbane
Another profitable project from the Reid property group.
PROJECT TYPE
Operating Private Hospital
Negotiated complex purchase
Secured investor
Formalised management contract
Re-named to Brisbane Private Hospital
Operated hospital as Directors
Project Status
SOLD
INVESTOR PARTICIPATION
One private Investor
Investor achieved approximately 100% return on the freehold and business over three years
Our group achieved approximately 300% return on our equity in Brisbane Private Hospital Pty Ltd
Formerly known as The Holy Spirit Hospital and owned and operated by the Sisters of Mercy. 161 Bed Private Hospital with 6 Operating Theatres. Successfully bid for the purchase of the property and business.
We secured interest from a private investor, who delayed commitment to the project until after we had committed unconditionally to the purchase. The investor subsequently negotiated full ownership to the freehold prior to settlement of the purchase.
Re-named Brisbane Private Hospital by Michael Reid, and re-branded by our group. We retained 50% of the operating hospital business until sale of our interest to the joint venture investor and freehold owner.
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