Bowen Hospital98 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 SummaryAs at 30 June 2021 Bowen Hospital 98 Churchill Drive
$63.5m Market Value
|Asset class||Hospital (Acute)|
|Major tenant||Evolution Healthcare|
|Market capitalisation rate||4.8%|