Frankston City Council gives go-ahead to Peninsula Private Hospital expansion

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Frankston City Council formally adopted the rezoning and plans for the expansion of the Peninsula Private Hospital at a meeting held tonight (Monday 5 August).

The Council’s adoption of the plans follows the recommendation by Planning Panels Victoria that the rezoning and planning permit for Stage 1 of the expansion be approved.

The plans and Stage 1 permit will now go to the Victorian Minister for Planning for final approval.

The proposed Master Plan allows for future development of the Peninsula Private Hospital and includes additional overnight and day surgery beds, operating theatres, consulting suites and an allied health centre, as well as up to 1000 car spaces for patients and visitors.

Peninsula Private Hospital is owned by the Australian Unity Healthcare Property Trust, which developed the master plan for future development of the hospital in conjunction with the hospital’s operator Ramsay Health Care.

Chris Smith, head of healthcare and retirement property funds at Australian Unity Investments, said the Peninsula Private Hospital is already one of the top hospitals in the region, and the expansion will help ensure it continues to provide the highest quality of care for the local community.

“Our research and analysis, as well as independent studies, have shown there is growing demand for healthcare services in the region, and the expansion of the Peninsula Private Hospital will help meet this demand.

“For instance, a study* undertaken by property economics consultancy Deep End Services showed that at least 570 additional hospital beds are needed in the Mornington Peninsula region but there are only 449 currently available.

“As the region’s population continues to grow, this demand will only increase,” Mr Smith said.

Australian Unity Investments is the funds management arm of Australian Unity – a national healthcare, financial services and retirement living organisation. A mutual organisation operating for over 170 years, Australian Unity provides services to some 620,000 Australians, including 320,000 members.

Australian Unity Investments offers a range of investment funds in domestic and international equities, fixed interest, mortgages and property, investment bonds and banking products. Its investment approach is to use its established in-house expertise in property and mortgages while also forming joint ventures and strategic alliances with boutique asset managers.

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For more information please contact:

Chris Smith – Phone: (03) 8682 4534

* The report was prepared by Deep End Services Pty Ltd for the purpose of providing expert evidence to an Advisory Committee of Planning Panels Victoria.

 

5 August 2013