Bowen Hospital

Bowen Hospital

98 Churchill Drive

Bowen Hospital is a two-level hospital facility and five-level specialist consulting building, located approximately 3km north of Wellington’s CBD. Originally constructed in 1971, the facility has undergone upgrades and renovations including a recent $34m development adding three operating theatres and consulting building housing consulting space, an endoscopy unit and chemotherapy clinic.

Since 2017 Vital has committed to the development of a radiation oncology unit at the site, which is an extension of the recently completed chemotherapy services at Bowen operated by a partnership between Icon Cancer Care and Acurity Health Group. Most recently Vital has, with operator Acurity, invested in further projects to bring an additional operating theatre and procedure room on line.

Property Summary

As at 31 December 2020 Bowen Hospital
98 Churchill Drive
  • $57.6m Market Value
  • 29.0yrs WALE
Asset class Hospital (Acute)
Occupancy 100%
Major tenant Acurity Health Group
Market capitalisation rate 5.3%