Barwon Investment Partners (Barwon) is pleased to announce the development application submitted to Economic Development Queensland (EDQ) for the Maroochy Private Hospital has been approved.
A state-of-the-art, eight storey medical and teaching facility will begin construction mid-year and will be a key asset within the emerging central business district of Maroochydore on Queensland’s Sunshine Coast.
This new development will provide a much needed service for people residing in Maroochydore and the wider region and will have a focus on the management of Musculo-skeletal conditions. This development is set to be an epicentre for surgical research and innovation with anchor tenants including the University of the Sunshine Coast (USC) and leading international orthopaedic company, Medacta.
The University’s collaboration with Medacta will ensure this new medical facility will be a centre of excellence in clinical care, innovation, education and research. USC Vice-Chancellor and President Professor Helen Bartlett said,
“Our teaching and research activities at the centre will tie in with our degrees in Medical Science, Occupational Therapy, Health Science, and our other allied health programs. This will assist in delivering better health outcomes for Sunshine Coast residents and greater opportunities for our researchers and students.”
The relationship between the University of the Sunshine Coast and Medacta will ensure a centre of excellence and delivery of a vertically integrated learning experience for both Australian and international surgeons.
The hospital component of the facility will house a variety of surgical specialties along with ancillary healthcare services. There will also be a comprehensive pain management, sports medicine and allied health offering. The experience for visitors, staff and patients will be world-class with the inclusion of high-end amenities and premium working spaces, as well as a roof-top staff relaxation area.
Tom Patrick, Head of Healthcare Property at Barwon said,
“Barwon is excited that the DA has been approved and development can begin. It is fantastic to be part of a development that will service the people within Maroochydore and surrounding communities for their healthcare needs, whilst also stimulating local employment with many new roles needing to be filled.
“Barwon’s investment into the new Maroochydore CBD should prove to be a valuable one with the development, once completed, truly reflecting a value-based healthcare model.”
Sunshine Coast Council Mayor Mark Jamieson welcomed the approval of the Barwon health facility which will be an important addition to Australia’s only greenfield city centre at Maroochydore.
“The investment by Barwon is yet a further sign of confidence in our new Maroochydore City Centre and adds to the growing momentum and investor interest that this project is generating. In addition to our partnership with Walker Corporation to drive the development of the Maroochydore City Centre, the Barwon health facility, will continue to expand the diversity of facilities, services and opportunities within the City Centre”, Mayor Jamieson said.
Barwon launched the Barwon Institutional Healthcare Property Fund in 2016 which comprises 22 healthcare properties valued at over $1.1 billion. Pleasingly the Fund continues to receive strong support from institutional investors and with the capacity from undrawn funds will allow Barwon to grow the Fund to over $2.0 billion. Barwon continues to actively invest in all sectors of healthcare real estate.
For more information about the Barwon Institutional Healthcare Fund, please contact Kate Hayward on kate.hayward@barwon.net.au or call +61 407 071 404.