RPAH Medical Centre

The RPAH Medical Centre presented a unique opportunity to acquire a 7,231sqm purpose-built medical facility within one of Australia’s most significant healthcare and research precincts, adjacent Royal Prince Alfred Hospital (“RPAH”) and The University of Sydney.

Opportunities to acquire income producing assets of this calibre are rare, underpinned by chronic undersupply, high barriers to entry and a deep pool of specialist medical tenants seeking proximity to hospital infrastructure.

The acquisition is supported by the structural tailwinds strengthening Australia’s healthcare system including population growth, an ageing demographic and rising expenditure on healthcare and deepens MaxCap’s exposure to social infrastructure investments.

Demand for modern, well‑located outpatient and medical facilities is high and increasing, particularly within established hospital and university precincts where clinical, research and education activities co‑locate. The broader RPAH precinct has around $2 billion of investment underway, reinforcing the precinct’s long‑term growth and strategic importance.

MaxCap partnered with April Group to acquire the fully leased RPAH Medical Centre for $117 million, providing a strong yield upon acquisition with identified pathways to achieve significant future income and asset value growth.

The asset is occupied by a diverse mix of medical and allied health tenants, with a waitlist of prospective tenants seeking to secure space within the facility – providing confidence in the robust income profile of the asset and future leasing outcomes.

The asset is actively managed with a strategic capital expenditure programme to ensure the optimal outcomes are delivered across the investment’s lifecycle, with a key focus on elevating the building’s identity, service offering and long‑term functionality.