April 20, 2026 Medical & Allied Health

What Radiology Clinic Owners Should Know About Commercial Property Finance

Buying the premises your imaging clinic already works from is a defining step for any operator. At Ardent Capital Group we speak with radiology and imaging owners about this kind of commercial property purchase, so this guide walks through how a lender reads a shielded, purpose-built clinic and what shapes the finance around it.

Ardent Capital Group is a specialist in commercial mortgages for radiology and imaging clinic operators across Australia. Our team can help you move from tenant to owner, and give you clear lending advice on structure and strategy.

Access finance from $100,000 to $10,000,000+, tailored to medical and imaging premises.
Over $500,000,000 facilitated across a decade for 1,000+ Australian borrowers.
Coverage across Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart and surrounding regional towns.
Deep experience with medical-grade fit-outs, radiation and MRI requirements, and lender approvals for healthcare property.

The case for owning your radiology clinic premises

Radiology clinics invest heavily in rooms that are purpose built. Lead lining, RF shielding for MRI, vibration isolation, chilled water and HVAC plant, three-phase power, raised floors for cabling, console rooms and patient flow design create a high-cost, immovable fit-out. Location choices tie directly to referrer networks, hospital adjacency, parking, ground-floor access and catchment demographics. The sector is resilient, supported by Medicare-funded diagnostics, private billing and an ageing population. Moving is disruptive and expensive, so securing the right address matters.

Main drivers:

Protect the fit-out investment with long tenure, planned upgrades and control of any building works.
Stabilise occupancy cost by replacing rent escalations with repayments that build equity in an owned asset.
Operational control over hours, signage, shielding upgrades, HVAC plant and downtime scheduling for equipment swaps.
Asset growth potential through exposure to medical property values in strong precincts and strata medical suites.

Buying may not suit every clinic. A short remaining lease, a planned relocation to a superior catchment, a greenfield build on the horizon, or capital better deployed into new scanners and senior radiographers can all tilt the decision towards continuing to rent. Treat ownership as a strategic choice alongside growth plans.

Our team structures a radiology clinic property loan for operators across Australia, and getting the file in front of the lender that suits it is where the work is.

Financing a radiology clinic: how it works

Deposit and LVR. An imaging clinic is a specialised-use property, so valuers assess the building shell and shielding on a specialised basis and lenders commonly gear it around 60 to 70 per cent, which implies a 30 to 40 per cent deposit. An established operator with a solid trading history can reach up to 80 per cent with a specialist healthcare lender that understands imaging property.

Loan term and structure. Terms commonly run 15 to 25 years, with the banks toward the shorter 10 to 15 year end and non-banks extending to 25 to 30 years. Repayments can be principal and interest for steady amortisation, or interest only for a defined period to prioritise cash flow during equipment upgrades or a new site ramp.

Security and serviceability. The property is the primary security. Lenders assess business financials and serviceability using historic and forecast billings, Medicare and private receipts, doctor service agreements, referral patterns, and any sub-tenancies such as pathology. Addbacks may include one-off equipment installs and non-recurring costs. Where appropriate, additional security can include other property or guarantees.

Owner-occupier treatment. Lenders generally view an owner-occupied medical property favourably due to stable demand, lower vacancy and the specialised fit-out that anchors the clinic to the site.

How the deal is put together

Many imaging operators hold the real estate in a separate entity, such as a company or trust, and lease the premises to the trading clinic at a market rent set in a formal lease. A lender then reads the inter-entity rent as one serviceability line and the clinic's trading result as another, which keeps the property income and the trading performance clean to assess. This clean separation is a common arrangement operators already use, and the finance is arranged around it.

SMSF purchase. Commercial premises generally qualify as business real property, so a self-managed super fund can hold the building and lease it back to the clinic at market rent, usually through a limited recourse borrowing arrangement with a bare trust. SMSF lending gears lower than a standard purchase, commonly 65 to 75 per cent, and carries its own loan terms, liquidity requirements and contribution caps. We take on arranging the loan and finding a lender comfortable with a shielded imaging suite as SMSF security, while your accountant and SMSF specialist confirm the tax, contribution and ownership position on the fund side before the bare trust deed is signed.

What credit teams weigh up

Business financials: Two to three years of financial statements, BAS, Medicare batching summaries, private billing breakdowns, doctor service agreements and locum usage.
Serviceability: Historic and forecast EBITDA, addbacks for one-off fit-out, timeline for any new modality ramp, and sensitivity to referrer changes.
Property and valuation: Medical zoning or permitted use for radiology, building services capacity, radiation and RF shielding, vibration control, lift access and on-site parking.
Deposit and equity position: Cash, term deposits, or the ability to leverage your equity in other property to strengthen the overall security position.
Lease and occupancy: If held in a separate entity, the head lease terms back to the trading business, any sub-tenants such as pathology or pharmacy, and remaining lease term.
Location factors: Proximity to hospitals and medical precincts, referrer network, local demographics and competing sites.
Compliance and insurances: Radiation licences, equipment service contracts, maintenance logs and appropriate insurances.

A specialist broker who understands radiology property and lender appetite can compress timeframes and structure the finance around your operating model.

A situation we could help with

This is an illustrative scenario that shows the kind of situation we can assist with, and how the thinking might run.

Situation: Independent imaging group in outer Melbourne, lease expiry in 18 months, landlord testing a sale. Existing 550 sqm strata suite with MRI, CT and ultrasound rooms, full shielding and plant.
Options weighed: Buy the current suite at valuation, relocate to a purpose-built tenancy in a new health hub, or split modalities across two smaller sites to de-risk referrer concentration.
Structures considered: Property held in a corporate trustee entity with a market-rent lease back to the trading clinic, or an SMSF purchase with a market-rent lease. Interest only for two years during a planned MRI upgrade, then a switch to principal and interest.
Funding profile: Indicative 60 to 70 per cent on a specialised-use valuation, and up to 80 per cent from a healthcare lender given the group's trading history. Serviceability supported by Medicare imaging receipts, private billings and a small pathology sub-tenancy. Settlement timing aligned to the lease assignment and equipment vendor works upon settlement.
How we would approach it: we would map the ranges, structures and repayments, model the cash-flow impact of the MRI upgrade, and set out the lender pathways so the operator can weigh tenure certainty against relocation upside. The figures above are illustrative, not confirmed outcomes.

Other finance we arrange for radiology clinic operators

Imaging equipment finance: MRI, CT, ultrasound, digital X-ray, OPG or CBCT and PACS servers funded with imaging equipment finance on terms aligned to useful life and vendor maintenance cycles.
Fit-out and refurbishment finance: Lead lining, RF shielding, console rooms, gantries, HVAC chillers and switchboard upgrades funded alongside building works.
Working capital: Smooth cash flow across Medicare batching, private invoices and supplier terms with working capital for an imaging clinic when a new modality ramps or referrer mix shifts.
Business overdraft: Flexible buffer for day-to-day claims variability, payroll and consumables without locking into a term facility.
Refinancing and debt consolidation: Reprice legacy loans, simplify multiple equipment agreements and release capacity for growth.
Construction and renovation: Fund a new suite build, MRI room upgrades, vibration isolation, lift compliance and patient-flow redesign.
Business or premises acquisition finance: Buy into a group, buy out a partner, or acquire the freehold where your clinic already trades.

These facilities can work together, for example, owning the premises can stabilise occupancy cost while equipment finance preserves cash, and a refinance can consolidate older loans to improve headroom.

Why radiology clinic owners work with Ardent

Ardent Capital Group arranges and structures commercial mortgages for radiology and imaging clinics, matched to how you intend to hold and occupy the property. We align loan terms, repayment profiles and security to your service mix and upgrade plans.

We service Sydney, Melbourne, Brisbane, Gold Coast, Perth, Adelaide, Canberra and surrounding metro and regional areas. We have helped facilitate over $500,000,000 in funding over a decade for over 1,000 borrowers.

If you are weighing the move from tenant to owner, talk to us. Ardent Capital Group is a specialist in commercial mortgages, and our team can help across a purchase, refinance or equity release. The objective is optimal financial outcomes with clear advice and efficient delivery.

Radiology clinic finance FAQs

How much deposit do I need to buy a radiology clinic premises? Most lenders target a 30 to 40 per cent deposit for a specialised imaging property, with 60 to 70 per cent LVR common on a specialised-use valuation. An established operator can reach up to 80 per cent with a specialist healthcare lender.

Can my SMSF buy the clinic building and lease it back to the practice? Yes, commercial premises generally qualify as business real property, and an SMSF can lease it back at market rent through a limited recourse borrowing arrangement. Expect lower LVRs, around 65 to 75 per cent, plus different loan terms and liquidity requirements compared with a standard purchase.

Do lenders treat an owner-occupied medical suite more favourably than an investment property? Owner-occupation is typically viewed positively because vacancy risk is lower and the specialised fit-out anchors the clinic to the site. That is a point we put to lenders when we present the file, subject to full credit assessment.

How are Medicare receipts and doctor service agreements assessed for serviceability? Lenders look at historic Medicare and private billings, referrer stability, the split between radiologist revenue and facility fees, and the terms of service agreements, with addbacks for one-off costs.

Will the valuation recognise my high-cost fit-out? Valuers primarily assess the real estate. Some fit-out elements that are fixtures can influence value, but specialist equipment and removable items are treated as plant and equipment rather than property value.

Can I finance a new MRI or CT at the same time as buying the premises? Yes, equipment finance can run alongside a commercial mortgage, with terms aligned to the modality and vendor service schedule, which preserves cash while the new asset ramps.

What tenancy or zoning issues matter for radiology use? Ensure permitted medical use for radiology, radiation compliance, adequate power and services, vibration control and lift access. Sub-tenancies, such as pathology, should be documented at commercial terms.

Written by

Nick Chong

Managing Director, M.AppFin, Dip. Mortgage Mgmt

Nick holds a Bachelor of Agricultural Economics, a Master of Applied Finance and an Advanced Diploma in Financial Planning. He founded Ardent Capital in 2016 after more than a decade in financial planning and mortgage broking. For the past ten years he has led a team of finance specialists, mortgage advisers, brokers and credit analysts, all working to secure optimal outcomes for clients and always acting in their best interests. The team brings both a qualitative and a quantitative approach to every deal.