Tauranga-based developer Fraser Sanderson has won agreement from the Central Lakes Trust & Southern Cross Hospitals Ltd to build a new surgical hospital beside the Queenstown Country Club retirement village, which he sold to NZX-listed Arvida Group Ltd in July.
Mr Sanderson’s company, Sanderson Group Ltd, will develop the hospital, to be called Southern Cross Central Lakes Hospital, on Frankton–Ladies Mile Highway.
Work will start in mid-2020 for completion in late 2021. Central Lakes Trust & Southern Cross Ltd said on Wednesday their joint venture would lease the hospital and Southern Cross would manage it.
Currently, patients from the Central Lakes region must travel to either Dunedin or Invercargill for the elective surgical procedures the new hospital will provide.
Arvida chief executive Bill McDonald welcomed the development, which would add to the improved aged care offering from Arvida. The retirement village operator intends to build a new agreed care facility at the country club, including care suites, and provide care services up to dementia level.
The Queenstown retirement village was one of 3 Mr Sanderson sold to Arvida for $180 million in July.
The other 2 are the Bethlehem Country Club & Bethlehem Shores, 8km up the coast from Tauranga.
1 August 2019: Arvida settles Sanderson purchases after strong capital-raising support
Attribution: Arvida release, Central Lakes Trust.