Centuria Healthcare, has entered into a partnership with a specialist doctor-led Joint Venture (JV) entity that will deliver a new, $64million short-stay private hospital in Kew, Melbourne.
Forty-two (42) specialist doctors have formed a JV with Medibank to provide no-gap treatments to eligible patients in its new short-stay hospital. The hospital, which will be built on the site of a former Healthscope facility – Cotham Private – in Kew will be developed by Centuria Healthcare with the joint venture committing to a long-term 15-year lease. The Hospital is expected to be completed in 2023.
Andrew Hemming, Centuria Healthcare Managing Director, said “We are delighted to partner with the joint venture doctors and Medibank to develop and own the real estate delivering this new short-stay surgical facility.
This is a transformative project that can change the landscape of the healthcare sector and we are pleased to be the real estate partner of this forward-thinking project.
“The project is central to Centuria Healthcare’s strategy to partner with top-tier operators backed by secure lease covenants. We are focused on providing modern healthcare real estate investments across Australia and currently have c.$1.0 billion worth of these assets under management.”
The new Kew short-stay hospital is planned to offer four operating theatres and a procedure room, 30 beds, radiology, an infusion (chemo) clinic and 90 basement car parking spaces. The facility proposes to provide services such as orthopaedics, Ear, Nose and Throat (ENT), vascular, plastics, general surgery, urology, gastroenterology, anaesthetics, oncology, and radiology.
The development of the facility is subject to completion of the acquisition and obtaining all necessary planning and licensing approvals.
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