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Property description

The Gleneagles Hospital Development comprises Gleneagles Hospital, a medical centre and car parks. Gleneagles Hospital is made up of a 10-storey block with 2 basements and a 5-storey annexe block. The medical centre is a 10-storey block with 3 basements and comprises 164 Medical Centre units from the 2nd to 10th storey. The car parks with an aggregate of 402 car park lots are located at basement 2 to 1st storey of the hospital building and basement 3 to 1st storey of the medical centre within the compound of the development.

Parkway Life REIT owns 69.05% of the total share value of the strata lots in Gleneagles Hospital Development, representing the Gleneagles Hospital which has 380 licensed beds, 10 Medical Centre units and 121 car park lots.

Competitive Strategies

  • Close proximity to Singapore's prime residential districts
  • Located at the fringe of Singapore's prime shopping district of Orchard Road.
  • Excellent access to public transportation

Key Statistics

Tenure Leasehold of 75 years from 23 August 2007
Strata Area of Property 49,003 sq m
Number of Licensed beds 380
Number of Strata units 164, of which 10 are owned by Parkway Life REIT
Number of Car Park lots 402, of which 121 are owned by Parkway Life REIT
Year of Completion Hospital Building - 1991 and 1993
Annexe Block - 1979
Medical Centre - 1991 and 1993
Committed Occupancy 100.0%
Name of Lessee (s) Parkway Hospitals Singapore Pte Ltd
Appraised Value (as at 31 December 2009) S$275.1 million1
Location Map Click here to view location map

Note:

  1. The property was valued by CB Richard Ellis Pte Ltd using the Direct Capitalisation Approach, Discounted Cash Flow Analysis and Direct Comparison Method.