[U/C] New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

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Patrick_27
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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#241 Post by Patrick_27 » Sun Jun 02, 2019 7:20 pm

EBG wrote:
Sun Jun 02, 2019 2:25 pm
All the scaffolding and temp fencing is being removed in angus St this weekend.
Any word on an opening date? For some reason late-June comes to mind but surely they're not ready to open with internal fit-outs etc?

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#242 Post by how good is he » Fri Jun 14, 2019 10:31 pm

No word/plans yet on what will be happening to the Wakefield hospital when Calvary move out in the coming months. Does anyone here know more? The big question is will Cromwell demo it for a big new development or just renovate it (and if so, for what?) It’s a big 8,700 sqm site...

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#243 Post by ml69 » Sun Jun 16, 2019 11:51 pm

how good is he wrote:
Fri Jun 14, 2019 10:31 pm
No word/plans yet on what will be happening to the Wakefield hospital when Calvary move out in the coming months. Does anyone here know more? The big question is will Cromwell demo it for a big new development or just renovate it (and if so, for what?) It’s a big 8,700 sqm site...
It’s hard to imagine what else you could possibly renovate a low rise hospital into.

I’d suggest demolition, followed by a proposal for medium rise apartments is the most likely option.

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#244 Post by SRW » Mon Jun 17, 2019 2:39 am

It'd work for a school or university campus, but can't see any takers on the horizon. CBC's usefully adjacent, but doubt they'd need/want all the space.

I'd welcome a university or mid-rise apartments for the flow-through business affects. Hutt Street is in dire need of a lift in activity, with more vacancies now than I can ever remember. But the market for apartments seems to have dissipated, and I'd hate to see the prime location go to townhousing or some such...
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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#245 Post by how good is he » Mon Jun 17, 2019 10:18 am

ml69, just as a thought The Queen Victoria Hospital was renovated into apartments [although I doubt this would ever happen here]. I also think a lack of car parking here is a big issue here if they ever tried to re-purpose/renovate the site rather than just demo it.

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#246 Post by Pikey » Mon Jun 17, 2019 11:48 am

I'm pretty sure the Calvary site, plus others across the eastern CBD that are owned by the hospital are all going for sale for development. It's a huge corridor that is on offer, and with some sections falling under the no prescribed height limit zone, we could see more 130m+ proposals.
Walking on over....

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#247 Post by how good is he » Mon Jun 17, 2019 12:25 pm

This site has already been sold 18 months ago to a property trust/developer - Cromwell Property Group.

THU 14 DEC 17

Australian Unity's $1.3 billion unlisted property trust has sold an Adelaide private hospital for nearly $10 million more than its current value.

Australian Unity’s Healthcare Property Trust engaged in a transaction with Cromwell Property Group who secured the Calvary Wakefield Private Hospital and Medical Clinic for $50 million.

In November, the trust raised $250 million within three days in order to fund future development and acquisition opportunities.

Australian Unity's head of healthcare property Chris Smith said the sale price was well in excess of the property’s current book value of $40.19 million.

“Wakefield has been a strong performer for the HPT and has delivered an internal rate of return of 16.9 percent per annum for investors since its acquisition in 1999,” he said.

“We looked at a number of other uses for the property but determined that selling the property was in the best interests of investors.”

The Calvary Wakefield Private Hospital – located in Adelaide’s central business district – occupies an entire block of 8,275 square metres, with a gross building area of 15,500 square metres.

It is expected that the current tenant, Calvary Health Care, will vacate the property after their lease expires in July 2019, following the completion of their new facility.

Earlier this year the Trust entered into an unconditional agreement to acquire 150 Charlotte Street, Brisbane for $105.75 million.

“We’re very pleased that we will be able to recycle the capital from the sale of this asset to put toward our $600 million development pipeline,” Smith said.

Australian Unity is currently involved with the $1.1 billion Herston Quarter project in Brisbane, which is planning on constructing new retirement and aged care buildings, a new private hospital, new residential developments and car parking over the next 10 years.

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[U/C] Re: New Calvary Hospital | 60m | 12 lvls | Cnr Angas/Pulteney

#248 Post by SBD » Mon Jun 17, 2019 1:13 pm

That article says that the current lease expires next month. Given that the website still says "moving next year" without any more specific date or recent updates, I assume the lease has been extended by a few months. Does anyone know for sure when the new building might be occupied or what the process for transfer will be? Another fleet of ambulance transfers, or will a private hospital just start admitting new patients to the new site and keep the old one running until the patients have all been sent home?

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