Vital Healthcare Property Trust
NNZX:VHP1.77
NZD
+0.00
(-0.28%)
ISIN
NZCHPE0001S4
Return %
Stock
S&P 500
1Y
-15.95
14.20
3Y
-14.11
81.12
5Y
-39.41
68.34
Capital Structure
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- CEO
- Chris Adams
- Full Time Employees
- 33
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- Level 17, HSBC Tower Auckland AUK New Zealand 1010
- IPO Date
- Sep 7, 1999
- Similar Companies
- Business
- Vital Healthcare Property Trust (VHP.NZ) owns and manages a diversified portfolio of high-quality healthcare real estate properties in New Zealand and Australia; its core assets include private hospitals comprising approximately 78% to 81% of portfolio value, ambulatory care and specialist medical facilities comprising 17% to 18%, aged care facilities comprising about 2%, and life science facilities comprising around 4%. The Trust leases these properties to leading healthcare operators, including for-profit hospitals, medical consultants, and nonprofit providers, delivering services across the full spectrum of health needs such as inpatient care, outpatient treatments, diagnostics, cancer care, cardiology, orthopaedics, and research; it also undertakes developments, acquisitions, and divestments to optimize its portfolio. Founded in 1994 and headquartered in Auckland, New Zealand, at Level 17, HSBC Tower, 188 Quay Street, the Trust operates primarily in Australia (about 69% of assets) and New Zealand (31%), with over 45 properties, more than 125 tenants, and over 2,800 beds, serving an ageing population amid growing demand for healthcare infrastructure. In November 2025, Vital announces the internalisation of its management by acquiring rights from external manager Northwest Healthcare Properties Management Limited for a NZ$214 million termination payment (net after-tax cost of NZ$177 million), funded partly by a NZ$220 million capital raising comprising a NZ$190 million placement at NZ$1.95 per unit and a NZ$30 million oversubscribed unit purchase plan; this shift enhances governance, aligns interests, delivers annual cost savings of NZ$20.9 million, and positions the Trust for near-term developments including Coomera Stage 1A and Macarthur Stage 2, with settlement targeted for December 2025 or Q1 2026 pending approvals. The portfolio grows to NZ$3.2 billion as of September 2024 through NZ$1.8 billion in acquisitions, NZ$600 million in developments, and NZ$500 million in divestments, including recent sustainable projects like the A$49 million 6-Star Green Star certified Playford Health Hub specialist medical centre in South Australia and the award-winning Macarthur Health Precinct; leasing activity covers 47,000 square metres representing 21% of income, sustaining 98% occupancy and a 19.1-year weighted average lease expiry.