Grace Hospital

Grace Hospital

281 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 2023 and total cost of $31.7m.

Property Summary

As at 31 December 2021 Grace Hospital
281 Cheyne Road, Tauranga
  • $108.5m Market Value
  • 29.0yrs WALE
Asset class Hospital (Acute)
Occupancy 100.0%
Major tenant Evolution Southern Cross (JV)
Market capitalisation rate 4.6%