Playford Health Hub44 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 SummaryAs at 30 June 2021 Playford Health Hub 44 John Rice Avenue, Elizabeth Vale
$20.7m AUD Development Cost
Late 2021 Forecast Completion Date
|Spend to Date||$11.6m AUD|
|Cost to Complete||$9.1m AUD|
|Forecast Income Return||6.8% (gross yield)|