Skip to main content
  1. Australian Unity Healthcare Property Trust - Withdrawal of NorthWest/GIC Proposal

Australian Unity Healthcare Property Trust (AUHPT) - Withdrawal of NorthWest/GIC Proposal

On Wednesday 14 July 2021, at a hearing before the Supreme Court of New South Wales (Court), NorthWest/GIC withdrew its proposal to acquire 100% of the units in AUHPT, and the unitholder resolution it proposed to put to a unitholder meeting on 19 July 2021.

The withdrawal of the proposal followed efforts by NorthWest/GIC to adjourn the scheduled unitholder meeting until 7 September 2021. It was while in Court on 14 July 2021 pursuing this adjournment, that NorthWest/GIC was informed of the position of unitholders, who had already voted overwhelmingly against the NorthWest/GIC Proposal. NorthWest/GIC decided to withdraw its proposal.

  • As at 14 July 2021, a total of 3,102 AUHPT unitholders had lodged a proxy vote with Australian Unity Funds Management Limited (AUFM), with approximately 99% of those unitholders voting “against” and only 12 unitholders voting “for” the NorthWest/GIC Proposal.
  • As at 14 July 2021, based on the proxy votes received by AUFM, more than 28%1 of the total units in AUHPT had already been voted “against” the NorthWest/GIC Proposal by these unitholders, indicating that the proposed resolution would not be passed at the unitholder meeting scheduled for 19 July 2021.

Following engagement with investors, the Board of AUFM had rejected each of the four inadequate proposals from NorthWest/GIC. The outcome of voting by AUHPT unitholders on the most recent NorthWest/GIC Proposal is a humbling reflection of the ongoing support and alignment of AUHPT unitholders with the Manager and Responsible Entity of AUHPT.

This outcome is a welcome result for investors who value their exposure to the long-term and stable returns that AUHPT has delivered and their position in a trust that supports the development of critical Australian healthcare property and social infrastructure.

We are aware of potentially misleading and deceptive statements being made by NorthWest/GIC to AUHPT unitholders in relation to NorthWest/GIC’s decision to withdraw its proposal. While we are disappointed that NorthWest/GIC continues to disseminate this information to unitholders, unfortunately this appears to be part of a consistent pattern of behaviour by NorthWest/GIC since making its first unsolicited, conditional and uncertain proposal. The Board of AUFM will continue to take active steps to protect the interests of AUHPT unitholders.

What should I do if NorthWest contacts me?

Unitholders are encouraged to ignore communications and materials from NorthWest. If you receive communications material from NorthWest and have feedback or questions relating to the proposals, please contact 1300 997 774.

Additional information

Letter to AUHPT unitholders - 16 July 2021

AUHPT announcement - Withdrawal of NorthWest proposal - 14 July 2021

If you have any further questions, please call 1300 997 774.

In accordance with existing regulations, AUFM meets its continuous disclosure requirements by way of website disclosure. All disclosures required under the continuous disclosure obligations are available on at

Over the last few months, the following communications and media releases regarding the NorthWest/GIC Unsolicited proposals were released by AUFM to investors and advisers.

Recent communications and media releases

View previous communications

The Australian Unity Healthcare Property Trust

Reliable income, experienced team and quality portfolio

Solid performer

AUHPT was established by Australian Unity in 1999 and the fund has achieved considerable growth since, with assets now over $2.45 billion. AUHPT has also delivered strong total returns of 11.75% per annum to unitholders since inception, including a distribution return of 8.13% per annum. Further, AUHPT’s future growth is underpinned by an attractive and deep pipeline of development projects worth in excess of $1 billion, which continue to be progressed and are expected to deliver ongoing future value for unitholders.

For further information on the performance of the Trust, visit:

Wholesale Units

Retail Units

Class A Units


AUHPT is the last remaining, scale portfolio of hospital and healthcare assets in the Australian market that remains owned by Australian investors. 

It is no surprise that AUHPT has attracted the attention of acquirers wanting to increase their exposure to Australia’s highly sought after and scarce hospitals and associated healthcare real estate, seeking to circumvent the challenging deal-by-deal development required in building a high quality, balanced and diversified portfolio. 

Extensive and unique development opportunities

As manager of AUHPT, Australian Unity provides AUHPT unitholders unique access to a range of development opportunities that other property managers in Australia and overseas cannot provide. 

AUHPT is a long-term owner of hospital assets (and other healthcare assets) and for over 21 years has worked with hospital operators (and other key stakeholders such as governments) to put in place multi-decade development plans, supported by long term and considered master planning, to invest in critical community infrastructure that serves the healthcare needs of Australians. 

A recent example being the proposed $140m Sunshine Hospital Development.  Western Melbourne is one of Australia’s fastest growing regions and its population is forecast to increase by 60% by 2036-2037 and its aging population by 153% by 2036. The new hospital is attracting some of Australia’s best medical specialists and will create 530 jobs at its completion. 

In addition, AUHPT’s partnership with Queensland’s Metro North Hospital and Health Service, innovatively originates new social infrastructure in the form of the recently completed development of the Surgical, Treatment and Rehabilitation Service—a 234 bed public hospital in Brisbane. View more here.

The AUHPT portfolio consists of vital healthcare and medical infrastructure assets to help meet Australia’s future healthcare needs. 

AUHPT is a demonstration of the role that creatively managed Australian private capital informed by substantial local insight and experience in the healthcare sector can play in financing these infrastructure needs of our community. 

Our unitholders are supporting the sustainable development of this crucial infrastructure.

Contact us

Dedicated hotline

If you have any questions about your investment in AUHPT please call the dedicated hotline on 1300 997 774.

Alternatively, if you are a financial adviser please reach out to your Australian Unity Business Development Manager

Media Enquiries

For all media enquiries please reach out to Penny Bold,

M 0400 567 937


Previous communications

Important information

Units in this Trust 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 your objectives, financial situation or needs. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the Product Disclosure Statement (PDS) and seek professional financial and taxation advice. This information is intended for recipients in Australia only. Past performance is not a reliable indicator of future performance.

1Neither Dexus nor Australian Unity related entities had voted at the time, and as such are not included in this number.