Grace Hospital – Stage 1281 Cheyne Road, Tauranga
Grace Hospital was acquired by Vital in December 2020 and is the only private inpatient hospital in Tauranga. It is a 51-bed, 11-theatre facility along with on site radiology and consulting services. Grace Hospital provides a range of surgical services including orthopaedics, cardiology, cosmetic surgery, urology and others. It was purpose-built in 2007 and expanded in 2020.
The property is currently undergoing expansion and redevelopment to provide an additional two operating theatres, new endoscopy room, 10 additional ward rooms and reconfiguration of ancillary areas. The project is being delivered in stages with an estimated completion in late 2024 and total cost of $31.7m.
Development SummaryAs at 30 September 2023 Grace Hospital – Stage 1 281 Cheyne Road, Tauranga
$31.7m Development Cost
Late-2024 Forecast Completion Date
|Spend to Date||$9m|
|Cost to Complete||$22.7m|
|Forecast Income Return||5.33%|