A health-care asset proposed to be developed by partners Mathieson Property and PWD has been granted Gateway by the NSW Department of Planning and Environment, achieving a major milestone in the rezoning process. Branded Camperdown Modern, the project is set to be completed in 2025 and will be positioned to capture a critical shortfall in healthcare services forecast through to 2032.
Destravis Group and Hardes Data’s clinical services assessment shows that both the primary and secondary catchments to Camperdown are significantly undersupplied by health services with increased demand predicted on the back of robust population growth and demographic changes.
Significantly, the data found that at least an additional 30,000 square metres of healthcare space will be required to meet increased health needs by 2032. In addition, a shortfall of 332 overnight and day surgical recovery beds is also anticipated.
Located at 122 Pyrmont Bridge Road, Camperdown Modern is in close proximity to the Royal Prince Alfred Hospital (RPA) and is a first of its kind private health offering for the inner-city suburb. It aims to meet the shortfall in hospital services amid a backlog of demand from the impacts of COVID-19 compounded by population growth and demographic changes.
The purpose-built healthcare facility will deliver 10,300 square metres of state- of-the-art health facilities, with large floorplates ranging from 1,300 to 1,700 square metres and a flexible design that can accommodate a range of health services, including day surgeries, pathology, radiology, mental rehabilitation, consulting suites and potentially 120 – 130 patient beds. The ultimate design will be refined and tailored to suit end-user requirements.
The project is strategically located in the Camperdown Health Education Research Precinct (CHERP), the future focal point of Sydney’s health, innovation, and technology community, connected to the Tech Central ‘super’ precinct. It offers unparalleled access to over 100 research institutes and centres of excellence including leading tertiary education institutions.
Mathieson Property Director Alex Sicari says the project aims to activate State and Local Government-endorsed plans for the growing Camperdown health, education, and research ‘super’ precinct.
“Camperdown Modern is rare in that it can provide a ‘best-in-market’ purpose-designed facility for health users across large, flexible contiguous floor plates that are extremely difficult to amalgamate in the small and fragmented private land holdings surrounding RPA Hospital. With NSW Health confirming a $750 million expansion for RPA Hospital, demand is set to increase for private health services in what is an already undersupplied
market,” Mr Sicari said.
With the RPA redevelopment set to expand and refurbish the existing public teaching hospital, Camperdown Modern seeks to alleviate pressure from increased demand for health services.
PWD Director Banjo Bond added, “We see this project as an important opportunity to deliver a modern, purpose-built health facility that will respond to the demands of the marketplace. The team will draw on more than 50 years of combined experience in delivering pre-committed institutional- grade assets. We appreciate the importance of end-user functionality and place it at the heart of the project’s success.”
Camperdown Modern Project Director Michael Lochtenberg says the development would suit a major private healthcare or hospital operator looking to expand its services within a purpose-built facility.
“The facility will be attractive to a diverse range of tenants including private surgical facilities, general hospital services and mental health service providers. It is expected to respond to the community’s socio-economic demographic, bolstered by a growing population with a high take-up of private health insurance,” Mr Lochtenberg said.
He noted that while similar offerings exist in other parts of metropolitan Sydney, there is no other offering of this scale close to RPA.
Camperdown Modern has direct access to Parramatta Road and is well- serviced by public transport and is only a 3-minute drive to RPA and 10 minutes to Broadway Shopping Centre. Within a 5-minute commute via public transport is the centre of Sydney’s tertiary education sector, with the University of Sydney, UTS, Notre Dame University and TAFE colleges all within close proximity.
Camperdown Modern is being leased by Mathieson Property, currently fielding enquiry from several large health user groups, with completion planned for late 2025.