Construction is expected to be completed by late 2022. Image Supplied.
  • Building forms part of the new Lumina development
  • Lumina consists of a 9.5 hectare zone dedicated to life sciences, health and tech-related businesses
  • Construction is to commence

Home Consortium (HomeCo) has announced the acquisition of the first health building within the new Health and Knowledge Precinct in the Gold Coast through a deal valued at circa $80 million.

Known as Proxima, the Southport asset will form part of the Queensland government’s Lumina development, which is a 9.5-hectare zone dedicated to life sciences, health and technology-related businesses.

HomeCo has acquired the building for its HealthCo REIT, which also recently purchased an eight-property portfolio operated by GensisCare along with a potential $500 million hospital and bio-med research precinct in Camden, NSW.

The deal between HomeCo and developer Evans Long was negotiated by CBRE’s Michael Hedger, Jope Tynan, Mark Witheriff and Peter Chapple.

“We are continuing to see strong levels of capital seeking opportunities in the health sector, in particular private hospital and life sciences assets, with Australia on track to becoming a world-leading life sciences hub,” said Mr Hedger.

Evans Long is the first commercial developer to have commenced construction in Lumina since the land was handed over to the Queensland government in 2019. Previously, the land was used as the Commonwealth Games Athletes Village.

“Proxima represents the latest healthcare asset to be delivered by Evans Long and is our most exciting to date given the potential to make such a positive impact on the community, in particular children’s improved health and wellbeing.”

Matthew Evans, Evans Long

60% of the Southport building has already been pre-leased to Queensland Health, Griffith University and Sanctuary Early learning. The Proxima building, designed by Cottee Parker, comprises 10,600 sqm of leasable space over eight levels.

Construction will commence soon and is expected to be completed late next year.

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