WELCOMING AUSTRALIAN UNITY

Australian Unity Healthcare Property Trust has acquired Lot 2, 33 Myoora Road / Lot 4A Larool Road, Terrey Hills, NSW, for $88 million to develop a new private hospital.

Hospital operator Wyvern Health Pty Ltd has signed a 30-year lease and major works agreement with Australian Unity to develop and operate the hospital. Construction is underway and scheduled for completion in mid-2023, when it will be known as Wyvern Private Hospital.

Chris Smith, General Manager Healthcare Property, Australian Unity, said that Australian Unity was focused on investing in the critical social infrastructure that meets the needs of Australia's growing and ageing communities while delivering value for investors.

"We know demand is strong in Terrey Hills—the Northern Sydney catchment is a highly insured population with 75 percent covered by private health insurance, compared with just over 50 percent across Greater Sydney ", he said.

"Terrey Hills provides us with opportunities to create both immediate and long-term value for investors", he said.

Ian Campbell, CEO, Wyvern Health Pty Ltd, said there had been strong interest from doctors operating across the target specialities in joining the new hospital.

"The attractive, high-growth traits of the Northern Sydney catchment will provide strong demand for the proposed service and infrastructure model", he said.

"We continue to work with local clinicians, and specialists in tailoring the hospital's offering, as well as local communities in ensuring its development prioritises the community's unique natural environment", Mr Campbell said.

The Healthcare Property Trust owns 75 high-grade healthcare assets, including hospitals, medical clinics, aged-care facilities, day surgeries, medical offices, consulting rooms, rehabilitation units, radiology and pathology centres.