AU swoops on Melton site for hospital
Australian Unity has snapped up a development site near the $900 million Melton Hospital, due for completion in 2029.
The group is paying $15m for the 7.5 hectare tract at 2 Coach Street, beside the Cobblebank train station.
A private hospital with allied healthcare and retail facilities is planned.
The asset will be held in the $3.9 billion Healthcare Property Trust which controls medical centres in 18 Australian precincts.
The deal come three months since AU, for the HPT, outlaid $38.5m for a 2646 sqm site at the north west tip of Adelaide’s CBD, opposite the recently completed Royal Adelaide Hospital.
Late last year meanwhile, the manager paid Bolton Clarke $220m for a portfolio of nine South Australian aged care investments.
Cobblebank is 36 kilometres west of Melbourne’s CBD.
Last week the state government shortlisted two groups to construct Melton Hospital: Examplar Health (a consortia comprising Capella Capital, Lendlease, Honeywell and Compass Group) and Wilam Marrga, made up of Tetris Capital, John Holland, ISS and Cushman & Wakefield (story continues below).
AUHPT comes to Melton
Also in Melbourne’s west, AUHPT recently completed the 75-bed Sunshine Private Hospital – the country’s first all-electric asset of its type.
“Population growth in the City of Melton is currently outstripping all other areas in Victoria, recording a 6.4 per cent increase from 2021 to 2022,” AU assistant fun manager, Healthcare Property, Nicole Plant, said.
“This isn’t expected to slow down as by 2036 more than half a million people are set to join the growing western Melbourne population,” she added.
“Through this [Cobblebank] acquisition, the trust will bring its significant experience in healthcare-related development to provide long-term healthcare infrastructure solutions for residents of Melbourne’s west,” according to the executive.
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