Northwest Healthcare Properties
International fund at the forefront of future health and knowledge.
Global real estate investor and asset manager Northwest Healthcare Properties (Northwest), through its NZX-listed fund, Vital Healthcare Property Trust, is the latest future focused institution to join the nation leading Gold Coast Health and Knowledge Precinct (GCHKP) at Southport.
Northwest is no stranger to investment on the Gold Coast with other local assets in its portfolio including Palm Beach Currumbin Clinic and Bolton Clarke Aged Care Facility. It was a desire for clustered opportunities which saw the healthcare, knowledge and research heavyweight identify the benefits and synergies of the precinct to invest $154 million in developing RDX, a research, innovation and life science focused facility.
Northwest was attracted to the Precinct’s network of clustered health services and activities along with auxiliary uses such as education, research, retail and residential. This investment demonstrates confidence in the continued evolution of the precinct from Northwest which has $6.1 billion of assets under management across 71 properties in Australia and New Zealand, which makes it the largest pureplay health real estate owner, manager and developer in the region.
RDX is designed to achieve a 6-Star Green Star rating and will embody sustainable and resilient principles while delivering cutting-edge research, innovation and healthcare solutions. It will span eight levels covering over 14,500m2 of gross floor area, which will incorporate research, biotech, clinical, and educational functions to create a holistic and collaborative environment.
The facility will house diverse offerings, including neuroendovascular radiology, interventional cardiology innovation and training, specialised rehabilitation services, phase one clinical trials, research, virtual care, and various other health-related uses. By bringing together leading experts, state-of-the-art technologies and world-class infrastructure, RDX will serve as a platform for healthcare experts to pioneer global exemplar projects utilising cutting-edge technologies.
Along with this investment in the GCHKP, Northwest are also planning a $300 million health precinct in Coomera. This will complement the future $1.3 billion Coomera public hospital due to be completed in 2027. This continued investment across multiple sites shows confidence in the City’s ability to continue to bring together multiple uses to deliver vital health infrastructure and business opportunities.