Australian Unity has lodged development plans to build a new $150 million private hospital in Brisbane’s south on behalf of the Australian Unity Healthcare Property Trust (AUHPT).
The Matilda Meadowbrook private hospital project will comprise between 60 and 90 inpatient beds, with capacity to expand to 160 beds.
Other facilities include nine operating theatres, 60 specialist consulting suites, onsite pathology and an imaging centre.
It will form part of the proposed Meadowbrook Health Hub at the 1.6-hectare site, which will offer an onsite hotel, childcare, and retail services.
The development will be located opposite Logan Hospital and near rail and other public transport services.
Construction is expected to start in early 2023 once approved and on completion, it will be leased to operator Matilda Health Care under a 30-year term.
“Along with generating a steady income stream as a result of a 30-year lease with Matilda Health Care, the centrally-located site and large lot size will enable us to pursue additional development stages as community demand grows,” Chris Smith, General Manager of Healthcare Property, Australian Unity, said.
“These are some of the many characteristics make the Meadowbrook Health Hub a high-quality asset in our portfolio.”
Matilda Health Care Managing Director Dr Harry Pannu said the hospital will support the rapidly growing health needs in the City of Logan for years to come.
“The city of Logan is experiencing rapid growth, with the number of local residents expected to almost double to 500,000 by 2036,” Dr Pannu said.
“This growth, in combination with an ageing population and rising rates of chronic disease, is driving significant demand for high-quality healthcare infrastructure.”
In addition to Matilda Meadowbrook Private Hospital, AUHPT recently announced plans to commence a $150 million expansion to Robina Private Hospital on the Gold Coast.
In November 2020, AUHPT completed the development of Queensland’s first digital hospital, the Surgical, Treatment and Rehabilitation Service (STARS), which forms part of Australian Unity’s $1.1 billion Herston Quarter Redevelopment in Brisbane.
STARS will be part of a collaborative community, home to several health facilities, medical research institutes, universities and other organisations.
Recent healthcare property deals include the Centuria Healthcare Property Fund buying four healthcare assets located in Sydney, the Gold Coast and throughout Western Australia worth more than $115 million last week.
Last month, Centuria and Morgan Stanley Real Estate Investing formed a healthcare joint venture and invested in three healthcare properties across Victoria and Queensland worth $210 million, while NorthWest Healthcare Properties invested $76.6 million to acquire a 27,840 sqm site in Sydney’s southwest suburb of Campbelltown, Sydney in February to develop into a multi-stage healthcare precinct.
