This article is from the Australian Property Journal archive
LISTED hospital owner Generation Healthcare REIT has reaffirmed its FY17 underlying net operating Income guidance of 10.24 cpu.
Generation Healthcare’s latest quarterly update is part of its disclosure requirement due to the takeover bid by Canada’s NorthWest Healthcare Properties REIT.
Unaudited results for the nine months to March 31 shows an underlying net operating income of $16.77 million compared to $16.26 million in the previous correspond period.
CEO Miles Wentworth said solid progress continues on the $114.0m (GHC share $44.5 million) St John of God Berwick Hospital project (approximately 60% complete as at 31 March 2017) which is expected to be completed by the end of the 2017 calendar year.
“Updated independent property valuations were also obtained for Westmead Rehabilitation Hospital, the Frankston Private Expansion project / Frankston Private (fair value adjustment recognised on a 100% complete basis) and Casey Private Hospital, known as St John of God Berwick Hospital, (fair value adjustment recognised on a percentage complete basis), contributing to a net fair value gain to GHC of $20.6 million recognised in the quarter.” Wentworth said.
Australian Property Journal