First REIT to enhance Adam Road Hospital

Healthcare real estate investment trust First Reit says it is enhancing its existing Adam Road Hospital.

It says it will collaborate with Health Promise, the tenant of Adam Road Hospital, and Pacific Healthcare for the enhancement.

First Reit will revamp Adam Road Hospital and turn it into a modern 3-storey purpose built cancer hospital with a basement.

The new building will have a gross floor area of 2,545 square metres and will function as a cancer treatment centre.

The treatment centre will be operated by Pacific Cancer Centre, a wholly owned subsidiary of Pacific Healthcare.

Boustead Projects will be appointed as the main contractor and project manager in an
S$18.6m contract.

The new building is expected to be completed by mid 2011.

Health Promise will continue to perform its existing lease obligation during the construction period.

Upon completion of the new building, Health Promise will take a new lease there for a term of 10 years.

Source : Channel NewsAsia – 2 Nov 2009

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