Our property funds
Two of our property funds hold assets that are critical to our communities at this time.
Many of the healthcare assets in the Healthcare Property Trust (Trust) are playing a vital role in the ongoing management of the pandemic in the community.
The public hospital sector is looking to private hospitals to support the expected increases in patient demand. The Federal Government announced on Wednesday that all elective surgery, other than urgent procedures, will be placed on hold to free up space in hospitals for COVID-19 patients. Public hospitals are moving to enter into contracts with private hospitals to access ward space and Intensive Care Unit capacity to care for COVID-19 patients, as well as patients in hospital for other reasons. This will free up more than 700,000 beds nationally over the next six months. We are in regular contact with our hospital operators and tenants and will fully support them to absorb this demand.
General practice Medical Centres continue to provide front line primary health care and testing to COVID-19 through personal visits, drive-through testing and tele health consultations. Pathology laboratories continue to support both primary health providers and hospitals in their surrounding communities.
The Trust’s Aged Care facilities continue to provide care for some of our community’s most vulnerable people. Operators are taking every precaution and are currently restricting access to essential visitors only.
The Diversified Property Fund’s (Fund) shopping centres continue to be at the front line providing essential services for communities with major supermarkets implementing plans for the elderly, disadvantaged and the general community as a whole, so that their needs can continue to be met. Traffic has increased by more than 30% across all centres, and this increased volume is being managed intensively by site management teams to ensure that adequate social distancing measures are maintained. We have implemented additional security and cleaning measures so that the community can feel safe and comfortable at this time.
Our warehousing and distribution facilities are also contributing by offering the opportunity for essential medical goods to be stored on site for ease of distribution.
We will be working continuously with all our tenants to review any impacts they experience and assist with their needs where possible.