Playford Health Hub

Playford Health Hub

44 John Rice Avenue, Elizabeth Vale

Currently home to the Elizabeth Vale Shopping Centre, which will be demolished to facilitate construction, the site is situated directly opposite the Lyell McEwin Hospital, a major tertiary hospital and the third largest public hospital in South Australia.

Vital has received Development Approval to proceed with Stages 1 and 2 of the Playford Health Hub encompassing a retail precinct and multideck car park (Stage 1) and specialist medical consulting building (Stage 2). Construction works have commenced on Stage 1, with construction estimated to complete late 2021.

Master planning for the private hospital being the third and final stage of the development is underway. Vital expects the development to be staged and over a 3 to 5-year period, with an estimated end value of c. $125m (100% interest).

Development Summary

As at 31 March 2021 Playford Health Hub
44 John Rice Avenue, Elizabeth Vale
  • $20.7m AUD Development Cost
  • Late 2021 Forecast Completion Date
Stage Under Construction
Spend to Date $4.5m AUD
Cost to Complete $16.2m AUD
Forecast Income Return 6.77% (gross yield)