The Premier Campbell Newman yesterday officially announced the worst kept secret on the Sunshine Coast with the appointment of a consortium including Lend Lease, Siemens, Capella Capital and Spotless as its partner in Australia’s largest hospital project, the $2bn Sunshine Coast University Hospital.
This new hospital precinct has been the catalyst for change on the Sunshine Coast and it will expand the gross regional product by 20-25%.
While information around the appointment was leaked unofficially a few weeks ago, it is in line with a pre-election promise to bring forward the announcement, commencement and completion of Stage 1 of the project which will open with 450 beds growing to 738 by 2021.
To clarify, there are actually two hospitals being built in this development, the Sunshine Coast University Hospital and the Ramsay Private Hospital, which commenced construction in September 2011 and will open next year. While the benefits are already starting to be seen, these two hospitals will also bring significant investment from ancillary services and industries and in conjunction with the new Stockland Town Centre and residential community at Birtinya which form part of the hospital precinct, there will be an average of around $1.5M per day invested into the area over the next 5 years.
While the construction phase is significant in its impact on the community employing 2,000-3,000 workers on the hospitals alone, it is in the long term where the greatest benefits will be seen. With over 3,500 full time staff, 15,000 visitors expected per day and an initial operational expenditure of $680m per annum the flow through effect is an expected 15,000 new jobs for the coast.
What’s important to note is the Sunshine Coast has a population of around 340,000 as compared to the ACT with a population of 365,000. If the headlines were around 15,000 new jobs and an expansion of the local economy by 20-25% for the ACT, investors would be flocking to the area yet the media continues to be at worst, unjustifiably unkind to the Sunshine Coast or at best, failing to show much enthusiasm for what is essentially an enormous project that will in turn be a significant ‘booster’ to the Coast’s economy.
This one project is just the catalyst but, combined with Australia’s largest residential community at Caloundra South, The Maroochydore Principal Activity Centre (CBD redevelopment), Sunshine Coast Airport redevelopment, Sippy Downs Town Centre and a plethora of smaller developments, the Sunshine Coast has only just started its construction boom.
Tens of thousands of jobs are being created in one of the most liveable places on earth. We are experiencing the growth of a city (already the 10th largest in the Country) and its just beginning.
We believe the Sunshine Coast will be one of the best performing regions in the next 10 to 15 years. To find out how you can make the most of this exciting time and change, visit www.shineonbrightwater.com.au to check out the most affordable investment property opportunities in the hospital precinct area or call now on 1800 248 911 to find out how you can benefit from all that’s happening right now on the Sunshine Coast.
Sunshine Coast University Hospital Development Fast Facts:
- $2.03 billion public hospital, opening 2016 with 450 beds (Stage 1) and growing to 738 beds by 2021
- $60.8 million Skills, Academic and Research Centre (SARC)
- Ramsay Health Private Hospital (under construction) opening 2013
- Kawana Health Innovation Park (opportunities for health related commercial developments)
- 2500 working on site during peak construction times
- 3500 hospital staff, growing to 5000 staff by 2021
- 15,000 visitors to the health precinct each day.
- $680 million per annum initial operational expenditure on completion
- Click here to watch a video flythrough of the new Hospital development
- Click here to see the concept illustrations for the new Hospital development