Listed property trust says its defensive portfolio weathered the storm.
Vital Healthcare Property Trust, the fourth largest listed property vehicle and the only specialist healthcare landlord on the NZX, has had a buoyant half year to December 31st, 2020 as the global pandemic underlined the primacy of healthcare.
The owner of a trans-Tasman $2.25 billion healthcare property portfolio, of which 28% sits in New Zealand and 72% in Australia, said the company’s results despite the Covid pandemic highlighted Vital’s defensive characteristics.
The trust, externally managed by a subsidiary of Toronto-listed, global healthcare real estate owner and manager, NorthWest Healthcare Properties, increased its post-tax property income by 7.5% (excluding foreign exchange
Vital Healthcare Property Trust half-year profit up 60%, boosted by $61m revaluations
24 Feb, 2021 08:14 PM
3 minutes to read
Vital Healthcare Property Trust pushed net profit after tax up 60 per cent in its latest half-year results.
The business which owns 42 hospitals, outpatient, specialist and medical centres here and in Australia declared a $91m net profit after tax for the six months to December 31, 2020.
Revenue rose 8.5 per cent to $54m, up on the previous corresponding period s $49m but the bottom line was boosted by property revaluations which came in at $61m.
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Vital manager NorthWest Healthcare Properties Management said the NZX listed trust s defensive portfolio helped it record a 19.8 per cent total return for the 12 months ended December 31, outperforming the S&P/NZX REIT Index by 15.4 per cent and the broader S&P/NZX 50 index by 5.9 per cent.
Market review: The winners and losers in 2020
28 Dec, 2020 02:02 AM
5 minutes to read
The gap between the winners and losers was bigger than usual as Covid badly affected some stocks and benefited others. Photo / Getty Images
NZ Herald
By: Graham Skellern
In the year of Covid-19, the New Zealand sharemarket has staged a resilient and almost out-of-this-world performance, with a solid group of stocks reaching new highs. When the S&P/NZX 50 Index increased 17.73 points or 0.14 per cent to a record 13,037.94 last Thursday – its third successive day of rises – before closing for the Christmas break, the index had risen 13 per cent for the year.
Vital Healthcare Property Trust buys half-hectare Melbourne site for A$350m hospital project
21 Dec, 2020 07:52 PM
3 minutes to read
Vital Healthcare Property Trust has bought a half-hectare Melbourne development site where a A$350 million medical project is planned.
NorthWest Healthcare Properties Management announced the purchase of 5330sq m in the Box Hill suburb next to Vital s existing Epworth Eastern Hospital where a $140m expansion is under way.
The site is in the suburb s health and education precinct. Not only is it beside the existing hospital but other facilities nearby are Box Hill Public Hospital, Ekera Medical Centre and a tertiary training institute.
Vital Healthcare Property Trust (NZX: VHP) Acquisition of Development Site in Melbourne Tuesday 22nd December 2020
NorthWest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust, is pleased to announce that it has agreed terms to acquire a 5,330 square metre strategic development site at 17-23 Nelson Rd, Box Hill, Melbourne, Victoria, approximately 4kms east of Melbourne s CBD (Development Site).
Fully developed, the Development Site is expected to have a total value in excess of A$350m. This is in addition to Vital s existing investments in the Box Hill Health and Education Precinct which are expected to be valued at ~A$380m on completion of the current expansion of Epworth Eastern in late 2021.