‘Shovel ready’ Vital looks to complete asset recycling
Sales extend to almost half a billion dollars across its Australian/New Zealand portfolio, but it will look to drive growth through downstream investment into private hospitals.
Vital’s Ormiston Hospital in Auckland, revamped at a cost of $38.1m.
Revenue: Static, with property income at $144.5 million.
Profit: Adjusted funds from operations at $72.9m.
Main takeaway: Trans-Tasman healthcare landowner still has $180m in assets at the final stages of the sales process but will rekindle its new builds once the market perks up.
Vital Healthcare Property Trust has sold $490 million worth of non-core assets since March last year but says it remains ‘shovel ready’ for when the market shifts.
About $180m of that, all in Australia, were at due diligence stage, as it “recycled” capital from asset sales into developments
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Revenue: Static, with property income at $144.5 million.
Profit: Adjusted funds from operations at $72.9m.
Main takeaway: Trans-Tasman healthcare landowner still has $180m in assets at the final stages of the sales process but will rekindle its new builds once the market perks up.
