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Vital Healthcare Property Trust Discloses Stage 2 of Macarthur Health Precinct Development

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Vital Healthcare Property Trust (NZE:VHP) said it will undertake stage 2 of the Macarthur Health Precinct in New South Wales, an incremental development of NZ$99.3 million with a total project cost of NZ$112.2 million, to deliver a short stay surgical hospital and medical outpatient building, according to a Tuesday New Zealand bourse filing.

The company said the six-story building is designed to provide more than 9,000 square meters of net lettable area, targeting a five-star Green Star rating, with construction expected to commence in mid-2026 and completion targeted for early 2028.

Vital secured binding lease pre-commitments for about 35% of the estimated fully leased net income, with the project forecast to deliver a fully let net yield on cost of about 6.4%, it added.

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