Fund Overview

The Barwon Institutional Healthcare Property Fund was launched in November 2016 and aims to provide institutional investors with a portfolio of equity investments in Australian healthcare properties.

The $750 million Fund (GAV) is targeting healthcare or healthcare related properties such as hospitals, private specialist facilities, day surgeries & medical centres and ancillary healthcare assets.

The Fund aims to provide investors with attractive income return, quarterly distributions, and potential for capital growth.

Key features of Barwon Institutional Healthcare Property Fund

  • Industry Demand Drivers
    • Australia’s growing and aging population driving strong demand for healthcare services
    • Advances in care procedures and technology driving demand for new and specialised care facilities
    • Govt funding helps underwrite growth and tenant credit quality
  • Attractive Yield
    • Properties typically offer long WALE with CPI+ reviews: inflation-hedged income streams
    • Yields 5.0-6.0%, paid quarterly
  • Favourable Risk Profile
    • WALEs typically 5+ years with fixed rental growth
    • High credit quality of tenants
    • Patients loyal to support facilities/personnel they know
    • Low levels of speculative development in sector
  • Returns
    • Healthcare property has delivered one of the best total returns of all property asset classes with relatively low volatility
    • Low correlation with other property sectors

Fund Facts

Fund Type Unlisted, unregistered, open-ended unit trust
Inception December 2016
Investors Wholesale clients as defined under Section 761G of the Corporations Act
Minimum Investment $20Million unless otherwise agreed
Investments Equity investments in properties in the healthcare sector located in Australia
Borrowing The Fund will borrow to fund acquisitions and capital expenditure to target Loan-to-value ratio (LVR) between 30-40%
Unit Pricing Monthly
Redemptions Redemption window offered in December 2026.
Redemptions outside window at Manager’s discretion
Distributions Quarterly in respect of the March, June, September and December quarters

Fund Properties

Somerset Specialist Centre
Somerset Specialist Centre
Located adjacent to the Nepean Public Hospital, the Somerset Specialist Centre provides leading medical accommodation to specialists and allied healthcare practitioners. The facility is anchored by cancer care provider GenesisCare and private hospital operator DPA Health.

Purchase Date: July 2018

John James Hospital Campus
John James Hospital Campus
A private hospital campus located in Deakin, ACT, comprised of a private hospital and medical services building. The John James Hospital Campus accommodates many of the ACT’s leading surgeons and private healthcare providers.

Purchase Date: May 2018

Gosford Private Hospital
Gosford Private Hospital
A renovated private hospital on the Central Coast of NSW, featuring 129 overnight beds and 14 day chairs. The hospital is leased to Healthe Care on a 25-year lease. Gosford Private is undergoing expansion works due to complete in June 2021.

Purchase Date: July 2019

Tranmere Mental Health Facility
Tranmere Mental Health Facility
A purpose built community mental health facility leased on a long term basis to the State Government of South Australia (SA Health).

Purchase Date: February 2019

Shellharbour Private Hospital
Shellharbour Private Hospital
A private hospital providing rehabilitation and surgical services located in Shellharbour, New South Wales. The 60 bed facility is fully leased to Healthe Care Pty Ltd on a long term lease.

Purchase Date: May 2017

Mackay Specialist Facility
Mackay Specialist Facility
A recently completed specialist centre located in the private healthcare hub of Mackay, QLD. The facility, is leased to Icon Cancer Care and a range of specialist healthcare providers.

Purchase Date: July 2018

Clayton Clinical Laboratory
Clayton Clinical Laboratory
A pathology laboratory in Clayton, Victoria. The two level property acts as the main laboratory for Clinical Laboratories Pty Ltd across the entire state of Victoria.

Purchase Date: January 2017

Harvester Centre
Harvester Centre
Community health centre located 13km west of Melbourne CBD. Multi-let facility anchored by the State Government of Victoria, Melbourne Health.

Purchase Date: December 2017

Wollongong Day Surgery
Wollongong Day Surgery
A private day surgery facility in Wollongong, New South Wales. The facility is fully leased to Healthe Care Pty Ltd on a long term lease, and includes development land which is actively being invested in to accommodate an expansion of the facility.

Purchase Date: May 2017

Hillarys Plaza
Hillarys Plaza
Structured by way of fund-through purchase, the Hillarys Plaza will provide 3,700 square metres of NLA across two levels, accommodating a range of primary and allied healthcare providers, in addition to ancillary commercial tenants.

Purchase Date: July 2018

North Lakes Oncology Facility
North Lakes Oncology Facility
A recently completed cancer care centre delivering all aspects of cancer care from diagnosis to treatment, including chemotherapy, radiation therapy, and treatment for blood disorders. The facility, located in Brisbane, QLD, is leased to Icon Cancer Care on a long term lease.

Purchase Date: July 2018

Eastbrooke Medical Centre Townsville
Eastbrooke Medical Centre Townsville
A purpose-built modern medical centre in the North Queensland city of Townsville. The medical centre is wholly leased to Eastbrooke Medical Centres on a 10-year lease.

Purchase Date: January 2020

Heidelberg Pathology Laboratory
Heidelberg Pathology Laboratory
A pathology laboratory in Heidelberg, Victoria. The four level property acts as the main laboratory for Dorevitch Pathology across the entire state of Victoria.

Purchase Date: July 2017

South Pacific Private
South Pacific Private
Fully renovated private mental hospital including the adjoining renovated ‘recovery living’ building in Curl Curl, New South Wales. The 54 bed private hospital and 11 bed ‘recovery living’ facility is fully leased to Woodose Pty Ltd on a long term lease.

Purchase Date: February 2018

South Coast Private
South Coast Private
A private mental health hospital in Wollongong, New South Wales. The 90 bed facility is fully leased to Healthe Care Pty Ltd on a long term lease.

Purchase Date: May 2017