This article is from the Australian Property Journal archive
MATHIESON Property and PWD have been given the go ahead by the NSW Department of Planning and Environment for their new healthcare facility in Camperdown.
Being granted gateway by the department marks a significant milestone in the developers’ rezoning process for the Camperdown Modern project at 122 Pyrmont Bridge Road, which is set to be a first of its kind private healthcare facility in the suburb.
“We see this project as an important opportunity to deliver a modern, purpose-built health facility that will respond to the demands of the marketplace,” said Banjo Bond, director at PWD.
The project will span 10,300sqm of state-of-the-art facilities comprising a potential 120-130 beds, with floorplates from 1,300sqm to 1,700sqm to accommodate for a diverse range of services, including day surgeries, pathology, radiology, mental rehabilitation and consulting suites.
“The team will draw on more than 50 years of combined experience in delivering pre-committed institutional-grade assets. We appreciate the importance of end-user functionality and place it at the heart of the project’s success,” added Bond.
Camperdown Modern is looking to address a major shortfall in health services through to 2032.
“The facility will be attractive to a diverse range of tenants including private surgical facilities, general hospital services and mental health service providers. It is expected to respond to the community’s socio-economic demographic, bolstered by a growing population with a high take-up of private health insurance,” said Michael Lochtenberg, project director.
According to clinical services assessment from Destravis Group and Hardes Data, Camperdown Modern would be placed within both primary and secondary catchments that are facing an undersupply of health services, as demand is placed under upward pressure by a growing and changing demographic.
The assessment found that at least 30,000sqm of healthcare space to meet growing needs by 2032, with a current forecasted shortfall 332 overnight and day surgical recovery beds.
“Camperdown Modern is rare in that it can provide a ‘best-in-market’ purpose-designed facility for health users across large, flexible contiguous floor plates that are extremely difficult to amalgamate in the small and fragmented private land holdings surrounding RPA Hospital,” said Alex Sicari, director at Mathieson Property.
The project sits within close proximity of the Royal Prince Albert Hospital (RPA) and was strategically placed in the Camperdown Health Education Research Precinct (CHERP), which is set to become the centre of the city’s health, innovation and technology community.
With NSW Health confirming a $750 million expansion for RPA Hospital, demand is set to increase for private health services in what is an already undersupplied market,” added Sicari.
Camperdown Modern is scheduled for a 2025 completion, with leasing currently underway by Mathieson Property.
