Australian Unity Healthcare Property Trust completes the fully electric Sunshine Private Hospital
Napier & Blakeley were proud to be part of the team working for Australian Unity Healthcare Property Trust on the development of Sunshine Private Hospital. Our Consultants and Quantity Surveyors provided a range of services from preconstruction through to completion including:
- Development Monitoring to protect the owner’s interests against cost and physical risks;
- Tax Depreciation to maximise returns;
- Furniture, Fitting & Equipment Stocktake to provide independent verification of assets for financing purposes;
- Reinstatement Cost Assessment for insurance purposes.
The development comprises a 5-star Greenstar fully electric multi-tenanted hospital with operator Unitas as the primary tenant. Continue reading
Construction cost escalation, is the worst over?
AFTER some building material prices soared by at least 40%, construction costs are expected to moderate in 2023 with residential projects tipped to rise by 8-10% and commercial construction by 6-8%.
According to the latest Napier & Blakeley Construction Costs Datacards, it has been challenging past 12 months for developers, builders, suppliers, sub-contractors alike.
Recently Johnny Woodhouse, State Director Victoria at MaxCap Group discussed in APJ’s Talking Property Podcast about rising construction costs and the impact on rise and fall contracts and traditional funding structures.
“With material costs for timber and steel experiencing general price rises of up to 40% and 50% respectively, with some specific price rises being well above those, all market participants have been struggling to keep ahead of the constant changes, which unfortunately has seen some builders and sub-contractors not survive,” N&B director Craig Smith said. Continue reading
