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Growthpoint’s healthcare and wellness real estate fund, Growthpoint Healthcare Property Holdings (GHPH), has completed a R100m development in Rosebank, expanding its exposure to specialist medical real estate as investors target the sector’s long-term growth prospects.The facility, developed with healthcare provider Epione, brings general practitioners, specialists, diagnostics, pharmacy and day surgery services together in one location. It is the first of a planned network of integrated health villages that the partners intend rolling out across South Africa and, eventually, elsewhere in Africa.The development adds to GHPH’s R8bn healthcare property portfolio, which spans hospitals, medical suites, pharmaceutical manufacturing and warehousing facilities, and senior living communities.The project follows an eight-year partnership between GHPH and Epione, reflecting growing investment in healthcare infrastructure as demand for outpatient and community-based medical services increases.Fund manager Farhana Russell said the development forms part of GHPH’s strategy of backing specialised healthcare assets.“We are proud to be the healthcare property partner and developer that helped bring this vision to life. It represents exactly the kind of asset GHPH exists to help create by providing capital and know-how,” she said.The two-storey facility houses 22 consulting rooms for general practitioners and specialists, with a pharmacy, a pathology laboratory and a 20-bed day hospital equipped with two operating theatres for same-day surgical procedures.We are proud to be the healthcare property partner and developer that helped bring this vision to life. It represents exactly the kind of asset GHPH exists to help create by providing capital and know-how— Farhana Russell, fund manager Epione founder Garikai Govati said the model was designed to make healthcare more accessible by reducing the need for patients to move between different providers for consultations, diagnostics and treatment.“We identified Growthpoint as our partner of choice about eight years ago. They have the experience, capital and expertise to build successful hospitals,” Govati said.He said the company is already planning additional health villages.The investment comes as healthcare property continues to attract institutional investors seeking resilient, income-producing assets. Demand for the sector has been supported by an ageing population, increasing healthcare expenditure and a shift towards outpatient care, while developers have continued to expand purpose-built medical facilities to meet changing healthcare delivery models.
