Australian Unity Healthcare Property Trust (HPT) has bought Brisbane Waters Private Hospital on the central coast for $16.175 million. The property is forecast to deliver a yield of 9.27 per cent in its first year. The Australian Unity head of healthcare and retirement property funds, Chris Smith, said the purchase would be funded through the debt facility of HPT, which has a gearing level of 21 per cent.
The property will have an initial lease term of 22½ years.The property, at 21 Vidler Avenue, Woy Woy, is a two-level, 78-bed general hospital complex. It was originally constructed in 1978 and includes several ancillary buildings and site improvements. HPT will refurbish and extend the hospital during the early years of ownership.