Work is well underway to transform a commercial building site in Nundah into a state-of-the-art private mental health hospital.
Read: 60-Bed Mental Health Facility Proposed for Nundah
Real estate investment firm Real Asset Management (RAM) has settled on the site at 20 Nellie Street, inking a 25-year lease deal with healthcare operator iMH to anchor the precinct with a 58-bed private mental health facility offering a pioneering new model of care.
According to iMH director Julia Strickland-Bellamy, Nundah Private Hospital will introduce an integrated private mental health services approach never before seen in Brisbane when it opens in the second half of 2024.
She said this new model of care is a first for the Brisbane area, with the hospital set to open this October.
Ms Strickland-Bellamy added that the Nundah Private Hospital would allow Aurora Healthcare to expand its services to Brisbane’s northside, utilising a new model of care while also drawing upon the organisation’s decades of expertise specialising in private mental health care.
The major development comes as Queensland grapples with a shortage of mental health beds, estimated between 400 to 2,100 according to RAM.
Originally approved for office and childcare use, RAM filed revised plans with Brisbane City Council late last year to convert the site into a dedicated $60 million medical precinct featuring a five-story, V-shaped hospital building with consulting suites.
Designed by Z Architects, the pioneering Nundah health precinct will feature more than just the integrated mental health hospital building. Plans call for the hub to also include space for additional complementary health services, food and beverage offerings, office suites, and indoor sports facilities.
RAM had unlocked around $18 million in value through strategic planning and pre-leasing, reaching 68 percent occupancy before settlement. The firm’s funds management director Sam Wood highlighted the significant demand for mental health infrastructure driving the investment.
The unlisted RAM Australia Healthcare Opportunity Strategy underpinning the Nundah project provides greater flexibility to pursue healthcare assets, complementing the firm’s listed Essential Services Property Fund portfolio.
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Meanwhile, the facility would maintain 24-hour operations, with the busiest periods occurring each day between 6:00 a.m. and 10:00 p.m. to accommodate patient admissions, outpatient appointments, visitor hours, and any required deliveries.
Published 21-May-2024