MULTI-STOREY CAR PARK & COMMERCIAL PREMISES

Located in the heart of the rapidly expanding Birtinya Health Precinct, the RMC Oceanside Fund comprises the Oceanside Car Park, an established eight-storey facility with 581 parking spaces and five ground-floor commercial tenancies.

As the Sunshine Coast University Hospital and surrounding health precinct continue to expand, demand for convenient parking remains strong. Oceanside Car Park is the precinct’s only privately owned purpose-built multi-storey car park outside the hospital campuses, providing a strategic asset that services patients, healthcare workers and visitors 24 hours a day.

Acquired for $20.965 million, the property was secured at approximately 31 per cent of its estimated replacement value, reflecting RM Capital’s disciplined acquisition strategy and focus on identifying assets with long-term value.

The car park is operated by Secure Parking, while the ground floor provides additional income through commercial tenancies, including long-standing occupants Sullivan Nicolaides Pathology and Sonder Espresso. Opportunities also exist to enhance the asset through leasing of the remaining retail spaces and ongoing operational improvements.

The surrounding Birtinya Health Precinct is still less than half developed, with several significant development sites neighbouring the property. As the precinct continues to mature, the Oceanside Car Park is well positioned to benefit from increasing activity, reinforcing its role as an essential piece of infrastructure within one of the Sunshine Coast’s fastest-growing healthcare and commercial destinations.