This article is from the Australian Property Journal archive
CONSTRUCTION is now underway on Australian Unity’s $88 million Wyvern Private Hospital in Terrey Hills in Sydney’s Northern Beaches.
The healthcare property investors in partnership with the hospital operator Wyvern Health, marked the commence of works with a sod-turn ceremony at the site.
“With construction now underway, we are one step closer to delivering critical health infrastructure to meet the rising needs of Sydney’s Northern Beaches community, whilst giving investors in our Healthcare Property Trust access to a long-term income stream and scope for capital growth,” said Chris Smith, general manager of healthcare property at Australian Unity.
Set to become private surgical and rehabilitation hospital comprising state-of-the-art facilities for the ageing population of the area, the Wyvern Private Hospital will occupy a four-hectare site in Terrey Hills, around 25km north of the Sydney CBD.
“We are proud to be partnering with Wyvern Health, which has signed a 30-year lease to operate the hospital. There is much to look forward to as we work together to open the hospital’s doors and ultimately deliver long-term community and investor value,” added Smith.
The 84 bed-hospital will specialise in spinal surgery, neurosurgery, orthopaedic surgery, vascular surgery, interventional cardiology, pain management, and ophthalmology.
When first opened it include seven operating theatres, one cardiac catheterisation laboratory, 56 surgical inpatient beds, 20 rehabilitation beds, eight ICU beds, associated clinical support units, as well as consulting suites and a 148-space car park.
“Residents of the Northern Beaches need private healthcare facilities that not only deliver excellence in patient care, but extend that care to staff, to the local community and the surrounding bushland environment,” said Ian Campbell, CEO of Wyvern Health.
The population of Terrey Hills aged over 70 is growing at a rate of 2.3% each year, while over 70% of residents of the Northern Beaches catchment area are currently covered by private health insurance. This is well above the 50% average for the broader Greater Sydney area.
“Care without Compromise will be central to the way Wyvern Private Hospital operates. When it opens, this best-in-class hospital will provide vital care to help Australians heal in a beautiful location, supported by the best equipment, best doctors and best staff. We are also well-aware of our responsibility to look after the community and natural environment, and are committed to enriching life in Terrey Hills,” concluded Campbell.
The Wyvern Private Hospital is due to open its doors to patients in 2024.
