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Australian Unity grows healthcare property footprint with Southport acquisition

Media
16 Oct 2018

Australian Unity’s ~$1.5 billion Healthcare Property Trust (HPT) has announced the acquisition of a seven-level medical facility in Southport, Queensland, for $17.5 million.

Located in the administrative and commercial centre of the Gold Coast, the facility comprises a day hospital, specialist suites and basement parking.

The facility has a net lettable area of 2,339 square metres and its key tenants include Ramsay Health Care, Monash IVF, Eye & Laser Centre Gold Coast and the Lotus Institute.

Chris Smith, head of healthcare property at Australian Unity said the purchase was another example of HPT’s  discerning acquisition strategy.

“To deliver the value investors expect, we continue to manage HPT with  a long-term focus and remain selective on acquisitions”, Mr Smith said.

“With this acquisition we’ll build on our 17-year relationship with Ramsay Health Care, who are anchor tenants at Southport and six other properties in the HPT”.

Mr Smith said the acquisition was in line with the Fund’s commitment to invest in quality assets that deliver critical health services for the region’s ageing and growing population.

“Over the past five years we’ve invested circa $100 million in healthcare property on  Queensland’s Gold Coast.  In addition, we’ve recently commenced construction on a $340 million specialist public health facility (recently re-named the Surgical, Treatment and Rehabilitation Service  or STARS) at Herston Quarter in Brisbane, and completed works on a new $9.8 million medical centre in Robina”, he said.

The transaction was handled by Shaun Douglas of Chestertons.

The HPT’s one-year total return was 10.63 per cent, its three-year total return 14.39 per cent per annum and its five-year total return was 12.94 per cent per annum as at 30 September 2018.

-ENDS-

 

Further information:

Yumeko Leung, Six O’Clock Advisory

Mobile: 0402 127 903

About the Healthcare Property Trust

HPT commenced almost 20 years ago. It has more than 12,000 investors and owns 52 healthcare assets across Australia’s eastern seaboard. It has delivered investors steady, consistent income distributions since its inception and in recent years has also provided capital growth. Past performance is not a reliable indicator of future performance. 

In December 2017, Australian Unity’s Herston Quarter Redevelopment was formally recognised in the inaugural public private partnership awards for ‘Best Social Infrastructure Project’ and ‘Best Financial Structure.’ In May this year, Australian Unity’s HPT was named ‘Direct Property Fund of the year’ in Money Management’s fund manager of the year awards 2018. 

Important Information

Units in the Australian Unity Healthcare Property Trust ARSN 092 755 318 are issued by Australian Unity Funds Management Limited ABN 60 071 497 115, AFS Licence No 234454.  Information provided here is general information only and current at the time of publication and does not take into account the objectives, financial situation or needs of any particular investor. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the Product Disclosure Statement and seek professional financial and taxation advice. The Trust is currently closed to new investments.

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