Vital secures hospital operator for SA health precinct

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


MARKET RELEASE
24 November 2021
Vital Healthcare Property Trust continues investment run in South Australia with
~A$165* million healthcare precinct at Playford
NorthWest Healthcare Properties Management Limited (the Manager), as manager of
Vital Healthcare Property Trust (Vital),
today announced an update to its ~A$165* million,
three-stage healthcare precinct project at Playford, marking over A$260 million worth of
healthcare infrastructure investment announced in South Australia in the past month.
The new three-staged development is located opposite the Lyell McEwin Hospital at
Playford in Adelaide. The three elements being developed comprise:
Stage 1. Now complete:
~A$24 million, 450 bay multi
deck car park and
1,700sqm of retail with
tenants including IGA,
Medimart and Australia
Post. This stage was
anchored via a long-term
lease to SA Health for ~50%
of the car park, the
balance being casual
carparking, with the retail
component now
substantially leased.
Stage 2. Project approved, with construction to commence mid-2022: A ~A$49 million
state-of-the-art Specialist Medical Centre, with ~6,000sqm across four levels which is
currently ~60% pre-leased including radiotherapy (Genesis Care), radiology
(Radiology SA), pathology (Clinpath), day oncology (Calvary Health Care),
pharmacy, medical consulting suites and a café.
Stage 3. Memorandum of Understanding signed: For a ~A$93 million
private hospital
to be operated by Calvary Health Care, with provision for eight operating theatres
and up to 120 day and overnight beds.

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


Vital's Fund Manager, Aaron Hockly, said:
“A core expertise of our business is in the sourcing, planning and delivering of
market-leading healthcare precincts that service critical community needs on a
large scale. The Playford medical, retail and hospital precinct was a compelling
opportunity for Vital given its accessibility, central location and proximity to the
existing Lyell McEwin Hospital, which we expect will maximise the value of the
healthcare services offered.
We are pleased that today’s announcement marks the second time within a
month that Vital has announced a multi-million dollar healthcare infrastructure
investment in South Australia, following the acquisition of the Tennyson Centre in
October for A$93 million.
This brings our recent healthcare investments in South Australia to over $260 million,
and deepens our footprint in the state, allowing us to bring together the best
healthcare providers and create a state-of -the-art private healthcare precinct at
Playford to improve and expand the delivery of health services to South
Australians.”
NorthWest’s Executive Director – Projects, Chris Adams said:
“The 450 bay carpark and retail component will be open to South Australians from
early December, marking the first activation of the Playford healthcare precinct
that we are developing.
Design of the ~A$49 million purpose-built Specialist Medical Centre has significantly
progressed and construction is expected to commence in mid-2022. We are thrilled
to advise that it is already ~60% pre-leased with key tenants Genesis Care,
Radiology SA, Clinpath and Calvary’s day oncology unit already signed on. We
look forward to announcing more services across the four-level development.”
Today’s announcement also includes the signing of a Memorandum of Understanding
(MOU) with Calvary Health Care for the development of a private hospital as the third
stage of the Playford precinct.
This ~A$93 million private hospital will contribute an additional eight operating theatres
and up to 120 day and overnight beds to Adelaide’s healthcare system, and Vital plans to
eventually connect the private hospital to the Lyell McEwin Hospital via airbridge, to allow
maximum connectivity and service delivery between the healthcare facilities.
Construction of the private hospital is expected to commence by January 2023.
Calvary Health Care’s National Chief Executive Officer, Martin Bowles said:
“We are excited to have signed a Memorandum of Understanding with the
NorthWest-managed Vital Healthcare Property Trust for a co-located private
hospital adjacent to the Lyell McEwin Public Hospital campus.
We are delighted to continue supporting the people of the greater northern region
of South Australia. Being part of the Vital's private health care precinct allows

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


Calvary to offer additional benefits to the northern community including a new
Calvary hospital, which will replace the current Calvary Central Districts Hospital,
and, being immediately adjacent to the major public hospital in the catchment,
the ability attract best in class surgeons and specialists.”
* includes base build and hard fit out





– ENDS –

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


ENQUIRIES
Aaron Hockly
Fund Manager, Vital Healthcare Property Trust
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 (~85% of portfolio
value), ambulatory care facilities (~10% of portfolio value) and aged care (~5% of
portfolio value).
Vital is the leading specialist listed landlord of healthcare property in Australasia and
currently has a portfolio valued at over $2.6 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