Royston Hospital

Royston Hospital

500 Southland Road, Hastings

Royston Hospital is a single-level hospital facility and two-level consulting centre, located in the city of Hastings. Royston is the only private hospital in Hastings and one of two hospitals in the Hawke’s Bay region serving 160,000 residents. Originally constructed in 1931, the facility has undergone major upgrades as recently as 2021 and contains five operating theatres and one endoscopy procedure room.

A new stand-alone Orthopaedic Day Surgery Unit was completed in 2021 with one operating theatre and provision for an additional theatre to be commissioned at a later date. The unit is operated as a joint venture between Evolution Healthcare and leading Hawke’s Bay orthopaedic surgeons.

Vital has commenced a small development in the main hospital to fitout two new theatres (currently shell only) and upgrade the Post Anaesthetic Care Unit.

Property Summary

As at 31 December 2021 Royston Hospital
500 Southland Road, Hastings
  • $94.0m Market Value
  • 27.9yrs WALE
Asset class Hospital (Acute)
Occupancy 100.0%
Major tenant Evolution Healthcare NZ
Market capitalisation rate 5.0%