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Sale of three regional assets

Thursday, 26 November 2020

NorthWest Healthcare Properties Management Limited (the Manager), as manager of Vital Healthcare Property Trust (Vital), is pleased to announce that it has agreed terms for the sale of the following assets:

1. Mayo Private Hospital, Taree, NSW;
2. Dubbo Private Hospital, Dubbo, NSW; and
3. North West Private Hospital, Burnie, Tas.

The aggregate sale price is a 14.7% premium to the aggregate 30 June 2020 book value of NZ$87.4m (excludes selling costs and foreign exchange impacts).

All three sales are expected to settle by the end of the 2020 calendar year (subject to the purchaser receiving FIRB approval).

The proceeds will be used to fund the acquisition of Grace Hospital, a premium, metropolitan hospital in New Zealand (refer to announcement on 24 November 2020 for more details).