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Vital Healthcare quarterly growth

Vital Healthcare Property Trust’s report for the first quarter ending 30 September 2019 states that the core portfolio performed strongly with like-for-like net property income growing 2.6% on the pcp

Occupancy in the portfolio increased to 99.9% (from 99.4% at 30 June 2019) reflecting the lease-up of 1,000 sqm of space at the Gold Coast Surgery Centre.

The portfolio’s weighted average lease expiry (WALE) decreased slightly to 17.9 years (from 18.1 years at 30 June 2019) as a result of being three months further on, partially offset by a new lease in the quarter at Gold Coast Surgery Centre (1,000 sqm).

Vital HealthCare currently have $284m worth of “return on cost” projects that have recently started. There are 5 projects that make up the pipeline with two representing the majority of this spend. One of these is in Wellington being the Wakefield Hospital and the other is in Melbourne at the Epworth Eastern campus.

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