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A listed Auckland-based landlord is planning to expand its holdings of Australian medical properties.
Investors in ING Medical Properties Trust got an update on a new Melbourne building at their annual meeting last week.
David Carr, general manager of the trust's manager, showed where the trust planned to develop on a site near other specialist medical buildings in the Melbourne suburb of Box Hill.
The trust plans a health support services building on a Thames St site it bought this year for $3.2 million.
Carr said the land was near two of the trust's other Melbourne buildings: Epworth Eastern Hospital and Epworth Medical Centre.
The new site was also near the Box Hill Public Hospital, he said.
The trust's Epworth Eastern Hospital is valued at $72.6 million and its Epworth Eastern Medical Centre is valued at $15 million.
The 1800 sq m site is producing income from carparks but the trust has planning approval for a three-level, 13-suite medical consulting building.
