May 21, 2018 Last Updated 7:58 AM, May 18, 2018

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WA rehab hospital in $20 million sale

modern hospital signAusBNAusBN - A private rehabilitation hospital in Western Australia has been sold to a New Zealand property trust for AUS$20 million.

Abbotsford Private Hopsital in West Leederville has been purchased by Vital Healthcare Property Trust, which will add a second Perth healthcare facility to its assets.

The 30-bed mental health hospital specialises in treatment for addiction, including drug and alcohol rehabilitation.

Vital also announced the $33 million purchase of Ormiston Hospital in Auckland.

Colliers International executive investment services Henry Vu facilitated the sale, which was acquired with an initial 25-year lease to private hospital operator Healthe Care Australia.

“The sale strengthens Healthe Care’s focus in WA where it also operates the Vital-owned Marian Centre in Wembley,” said Vu.

Vital’s purchase of Abbotsford is part of the property trust’s increased interest in WA, which has the highest proportion of the population with private healthcare insurance in the country.

Abbotsford is expected to generate strong synergies between the already

Chief executive of Vital’s manager David Carr said: “Abbotsford is expected to generate strong synergies between the already Vital owned and Healthe Care operated Marian Centre and is directly on strategy.”

@AusBNOnline

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