Adelaide-based developer Leyton Property has pre-sold the facility to Sydney-based Barwon Investment Partners, which in turn has signed a 15-year lease with Australian Clinical Labs.
The 2500sq m purpose-built laboratory will include pathology facilities, modern staff accommodation, warehousing and 133 carparks for staff and visitors.
It is expected to create about 100 jobs during the construction phase, with Sagle Constructions contracted to build it.
Barwon Investments Partners Partner Tom Patrick said the project is the firm’s third large-format pathology lab, and takes the company’s funds under management in healthcare real estate to more than $300 million.
“Barwon’s healthcare acquisition strategy is increasingly focused on working with our tenants and our development partners to secure quality healthcare properties that meet the growing needs of the community,” said Mr Patrick.
“This project represents a strong investment for our investors and is testament to our ability to assist our tenant partners execute on their growth strategies by acting as a reliable real estate capital partner.”