[ad_1]
Ormiston Hospital in Flat Bush is undergoing expansion which will almost double its floor area.
On Wednesday this week it hosted a ‘roof shout’ to mark an important moment in the progress of the expansion.
The event featured presentations from Vital and building contractor Savory Construction – a long-established, New Zealand-owned contractor – followed by refreshments and a site walkthrough of available areas.
Ormiston Hospital – majority operated by Southern Cross and owned by NZX-listed Vital Healthcare Property Trust – was purpose built in 2008 and comprises 5000 sqm over three levels.
Vital is undertaking a 4500 square metre expansion to provide a new endoscopy suite with three procedure rooms, 15 additional beds, 900 sqm of consulting space and future expansion space.
The $38 million expansion is being delivered in collaboration with Ormiston Hospital and Savory Construction.
On completion of the expansion, the 9500sqm facility will be majority leased to Ormiston Hospital (itself majority operated by Southern Cross) on a new 20-year lease and will provide general surgical, endoscopy, medical consulting and specialist treatment areas including cancer and oral health.
The project is about half-way through and is scheduled for completion in mid-2024 at which time the facility is expected to be valued at more than $100m representing 3 per cent of Vital’s $3.4 billion portfolio across Australia and New Zealand (10 per cent of Vital’s $1b NZ portfolio).
It is the only private surgical hospital in the Te Whatu Ora Counties Manukau catchment.
Earlier this year, Vital acquired 7500 sqm of expansion land adjoining the hospital for $13m to assist with further expansion of the hospital in the future.
[ad_2]
Source link
