BILLION-DOLLAR FUND PLANS ROBINA HEALTH HUB

BILLION-DOLLAR FUND PLANS ROBINA HEALTH HUB
BILLION-dollar investment fund Australian Unity Healthcare Property Trust has topped up its holdings on the Gold Coast by snaring two medical properties at Robina for $30 million.

The move is part of plans by Australia's largest healthcare property fund to create a major new health precinct in the suburb's commercial hub.

The latest deals bring the fund's total investment in Robina to $64 million, which includes construction of the new Robina Private Hospital due for completion in September.

The trust has acquired the Campus Alpha building at 2 Investigator Drive from Robina Group for $26.225 million and an adjacent 3164sqm site at 34 Investigator Drive for $3.77 million. It also owns a development site at Campus Crescent, bought in April for $3.92 million.

Chris Smith, head of healthcare property at Australian Unity Healthcare Property Trust (HPT), says the fund has targeted Robina for its planned healthcare vision due to strong growth fundamentals for the broader Gold Coast region.

"The healthcare precinct at Robina, currently anchored by the Robina Hospital and Queensland Health's Robina Health Precinct, is a premium, emerging location on the Gold Coast for health-related investment," he says.

"Robina is a fast-growing suburb in the Gold Coast region of Queensland, with a population of more than 600,000.

"The close proximity of the soon to commence Primary Health Care medical centre, along with the site at 34 Investigator Drive and the Campus Alpha building, will provide flexibility to develop additional health related space and car parking to meet future demand for the services provided in the precinct."

Smith says Australian Unity is an active long-term investor in building and improving Australia's social infrastructure.

"As the demand for healthcare services increases in line with Australia's rapidly ageing population we have prioritised expanding, improving and upgrading the HPT's existing hospitals and medical centres to meet this demand."  

Development plans for the new acquisitions have not been disclosed.

HPT is Australia's largest healthcare property fund, with a portfolio of 39 healthcare-related properties including hospitals, medical clinics, day surgeries, consulting rooms and specialist centres such as radiology and pathology.

The wholesale version of the HPT has returned investors 10 per cent per annum over the last 10 years, boosted by a 20 per cent return in FY16.


Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Looking for your next sporting adventure? Try Golf Journeys
Partner Content
Golf Journeys, an Australian golf travel company, has big plans in store for golfe...
Golf Journeys
Advertisement

Related Stories

Sunland sells Gold Coast retail precinct The Lanes to Panthera for $45.8 million

Sunland sells Gold Coast retail precinct The Lanes to Panthera for $45.8 million

Developer Sunland's (ASX: SDG) rationalisation of its Queenslan...

eStore Logistics opens $75m Bankstown warehouse

eStore Logistics opens $75m Bankstown warehouse

Australian e-commerce fulfilment provider eStore Logistics has unve...

Pack your suitcase: ’Do not travel’ advice lifted for outbound Aussies

Pack your suitcase: ’Do not travel’ advice lifted for outbound Aussies

With Australia’s international borders set to progressively r...

Consumers are wise to ‘woke washing’ – but truly ‘transformative branding’ is still possible

Consumers are wise to ‘woke washing’ – but truly ‘transformative branding’ is still possible

With brands increasingly engaging in social change campaigns and le...