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  • Sale of Ormiston Hospital completed in South Auckland

Sale of Ormiston Hospital completed in South Auckland

Auckland | 5 April 2017
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The successful sale of Ormiston Hospital, 125 Ormiston Road, Auckland has been completed by CBRE’s Senior Director of Capital Markets Warren Hutt, and Senior Managing Director, New Zealand, Brent McGregor.

The deal was negotiated with Vital Healthcare Property Trust prior to the commencement of the official on-market sales campaign. The sale also included adjoining vacant land of c.1,050sqm to allow for future expansion of the hospital complex.  

“It’s fairly infrequent that private hospital investment assets come to market, so we were very pleased for the opportunity to transact Ormiston Hospital to New Zealand’s leading specialist private hospital owner,” McGregor said.

Completed in 2009, the Ormiston Hospital complex incorporates six state of the art operating theatres, an endoscopy suite, 32 inpatient beds, on site radiology, a pharmacy and a ground floor cafeteria as well as four specialist consulting suites.

“This site has an excellent mix of advanced technology and amenities, coupled with the roughly 5,000sqm that has been retained by the vendor for future development,” McGregor said. 

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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The Company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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