REIT NorthWest Healthcare Properties senior vice president Alex Belcastro, alongside Campbelltown Mayor Councillor George Greiss, this week announced the commencement of construction on a $52 million world-class healthcare research hub and integrated cancer care centre in Sydney’s fastest growing corridor.
The development, located close to Western Sydney University and the Campbelltown CBD, will allow local cancer patients to access all treatment services under the one roof and take part in global research trials. An extra half a million residents are expected to move into the area within the next three decades.
This comes as investment in life sciences in Australia booms, which overseas has been on an upward trajectory over the past decade. According to research from CBRE, the life science sector is expected to double from $A13 billion to $A24 billion in Australia over the next decade.
The project fills demand for appropriate lab and office space for research as well as providing cancer treatment with state-of-the-art radiation therapy bunker suspended on the second floor, radiation oncology, medical oncology, medical imaging, pathology and allied health services.
The precinct will be among 15 life sciences related precincts that are emerging or planned, and will join an estimated 20 that are already established, according to CBRE.
Environmental and sustainability is a key focus for the development of the precinct, which targets a 5-Star Green Star Rating.
It is a result of a partnership between Campbelltown City Council, cancer care provider GenesisCare, Erilyan, and the owner of the site – NorthWest-managed, NZX listed fund, Vital Healthcare Property Trust.
GenesisCare’s integrated cancer centre, located in Campbelltown’s new cutting-edge health precinct, is set to open in 2023, with the capacity to deliver more than 30,000 treatments each year. Once open, the site will create 60 long-term healthcare jobs, and more than 750 local subcontractors will be employed during the construction phase.
GenesisCare is one of the largest providers of integrated healthcare globally, with 38 centres in Australia, 293 in the US, 14 in the UK and 21 in Spain.
The 2800 square metre site was acquired by Australia’s largest owner, manager and developer of healthcare real estate, NorthWest Healthcare Properties, for a cool $77 million earlier this year.
NorthWest Healthcare Properties senior vice president in medical precincts, Alex Belcastro, said: “A core expertise of NorthWest’s business is in sourcing, planning and delivering market leading healthcare precincts that service critical community needs on a large scale. The Campbelltown site, a high-profile site in a central location with proximity to Western Sydney University, the Campbelltown CBD and soon, the new cancer centre operated by GenesisCare, will maximise the value of the healthcare services offered to the broader community.”
GenesisCare’s general manager in NSW, Fergus Rourke, said: “Campbelltown is one of Australia’s fastest growing cities and over the last decade a huge amount of work has gone into future-proofing local healthcare services to accommodate for the growing population.”
“Globally, we are also seeing increased awareness and understanding of the importance of sustainability in healthcare infrastructure. We are incredibly proud of the fact that the new precinct and our integrated cancer centre has a 5 Star Green Star Rating.”
Campbelltown Mayor Greiss said: “Increased local services will reduce the burden of travel on residents during what is an especially difficult and stressful time in their lives. This is a great investment for our city that will provide local high-value jobs in the heart of our city centre and ensure long-term financial returns on Council land that can be reinvested into our community.”