Acquisition of development site in Melbourne

VITAL HEALTHCARE PROPERTY TRUST
Managed by NorthWest Healthcare Properties Management Limited
vhpt.co.nz

MARKET RELEASE
Managed by NorthWest Healthcare
Pr operties Management Ltd
21 December 2020


Vital acquires development site in Melbourne
NorthWest Healthcare Properties Management Limited (the Manager), as manager of
Vital Healthcare Property Trust (Vital), is pleased to announce that it has agreed terms to
acquire a 5,330 square metre strategic development site at 17-23 Nelson Rd, Box Hill,
Melbourne, Victoria, approximately 14kms east of Melbourne's CBD (Development Site).
The Development Site is located within the "Box Hill Health and Education Precinct" which
includes Box Hill Public Hospital and Box Hill (tertiary training) Institute as well as existing
Vital assets Epworth Eastern Hospital (Vital's largest asset) and Ekera Medical Centre. The
Development Site can support a gross floor area of over 42,000 square metres and has
been strategically acquired to support the ongoing expansion of Epworth Eastern as well
as potential ancillary uses including aged care and life sciences. Any development will
be in accordance with a master plan for the site to be prepared in conjunction with
Epworth Foundation and external consultants.

Fully developed, the Development Site is expected to have a total value in excess of
A$350m. This is in addition to Vital's existing investments in the Box Hill Health and
Education Precinct which are expected to be valued at ~A$380m on completion of the
current expansion of Epworth Eastern in late 2021.
The Development Site will be fully leased to Epworth Foundation from settlement as part
of the current redevelopment and expansion of Epworth Eastern Hospital. Settlement is
expected to occur in early 2021. All acquisition costs, including the A$29m
1
,purchase
price, will be funded from existing debt facilities taking pro-forma balance sheet gearing
to ~33% .
Settlement of acquisition and sales
Further to the Manager's announcement on 24 November 2020, settlement the
acquisition of Grace Hospital, Tauranga by Vital has occurred.
Further to the Manager's announcement of 26 November 2020, settlement of the sale of
three regional Australian hospitals by Vital has occurred.

– ENDS –

1
Excludes transaction costs

VITAL HEALTHCARE PROPERTY TRUST
Managed by NorthWest Healthcare Properties Management Limited
vhpt.co.nz
Page 2 of 2
ENQUIRIES:
Aaron Hockly, Fund Manager - Vital
Tel 09 973 7301, Email aaron.hockly@nwhreit.com


Michael Groth, Chief Financial Officer, NorthWest Healthcare Properties Management
Limited
Tel +61 409 936 104, Email michael.groth@nwhreit.com

About Vital (NZX code VHP):
Vital Healthcare Property Trust is an NZX-listed fund that invests in high-quality healthcare
properties in New Zealand and Australia including private hospitals (~80% of rent),
Medical Office Buildings (~10% of rent) and aged care (~8% of rent).

Vital is the only specialist listed landlord of healthcare property in Australasia and
currently has a portfolio valued at ~$2.2 billion.

Vital is managed by NorthWest Healthcare Properties Management Limited, a subsidiary
of Toronto Stock Exchange listed NorthWest Healthcare Properties REIT, a global owner
and manager of healthcare property.

For more information, visit our website: www.vhpt.co.nz