04/09/2009 - 10:14

Aspen sells hospital for $61m

04/09/2009 - 10:14

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Aspen Group is pleased to advise that settlement of the hospital component of the Norwest Private Hospital development was completed on 3 September 2009.

Aspen Group is pleased to advise that settlement of the hospital component of the Norwest Private Hospital development was completed on 3 September 2009.

The $125 million development was undertaken by Aspen Development Fund No.1 Limited, an Aspen managed development syndicate.

The hospital component was sold to Healthscope Limited for $61 million and is the second such project developed by ADF for Healthscope following completion of the Campbelltown Private Hospital in 2007.

With a further $11 million of medical suites due to settle this month, gearing in ADF post these settlements reduces from 57 per cent to 48 per cent.

The ADF development team has now successfully completed two large scale office towers in the Adelaide CBD, two hospital developments and a retirement village.

The team is currently progressing a portfolio of 14 development projects spread across the commercial, healthcare, retirement and residential sectors.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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