Kawana Health Campus Major Projects Report 2013
The Sunshine Coast Public University Hospital (the Public Hospital) is currently being constructed under Queenslands first public hospital public-private partnership and is due to open in 2016. The project is delivering the most significant single economic boost in the regions history.
The Public Hospital is a component of the larger Kawana Health Campus (the Campus) which also hosts the recently opened Sunshine Coast University Private Hospital (the Private Hospital). The Private Hospital is currently delivering services to public patients under contract to the Sunshine Coast Hospital and Health Service.
vEstimated capital expenditure for the Campus is expected to be in excess of $2 billion. This investment is acting as the catalyst for a period of significant growth in the broader regional economy. Queensland has captured a significant share of the nations capital projects investment over the past decade. Unlike projects in the energy and natural resources sector, the Kawana Health Campus is unique in that the early operational staffing requirements are anticipated to exceed the size of the entire construction life-cycle workforce by around 25 per cent.
The Public Hospital will open with around 450 beds in 2016 and the possibility of expansion to 738 beds by 2021. It is estimated that the facility will see around 10,000 patients per annum with services including an emergency department, cancer centre (including radiotherapy and chemotherapy), specialised medial and surgical services and maternity services among a range of others.
Education and Employment
A high level of education and employment is a key driver of growth. At the 2011 Census there were 17,991 persons employed in the health care and social assistance sector within the Sunshine Coast region. It is anticipated that in addition to around 2,000 jobs during construction the Public Hospital alone will employ around 2,500 persons on an on-going basis. This could increase to around 5,000 jobs with expansion on of the facilities. Other sectors also stand to benefit from the resultant increase in demand for professional, scientific and technical services as the surrounding area develops into a vibrant knowledge-based hub.
The Sunshine Coast region now boasts a higher proportion of residents with either vocational or Advanced Diploma / Diploma level qualifications than both the state and national averages. The gap between the proportion of residents with Bachelor or Higher Degree level qualifications has also narrowed significantly between the Sunshine Coast and Queensland and Australian averages.
The Sunshine Coast area boasts a range of residential property options across all price points. Boosted by investment in major infrastructure, some locations have once again begun to exhibit strong price growth. Furthermore, the expectation of improved overall economic growth combined with a renewed focus on the lifestyle benefits, convenience and amenity on offer within the region have driven an increase in the level of buyer activity. This trend is expected to continue through 2014 and 2015.
With the recent opening of the Sunshine Coast University Private Hospital and completion of the $1.8 billion Sunshine Coast Public University Hospital expected in 2016 there is likely to be an improvement in the value of dwellings in the surrounding areas. However there are opportunities for smart buyers to take advantage of the current level of relative affordability in locations close to the development of the new health and knowledge precincts.
Other Major Projects Investment
In addition to the more than $2 billion being invested in developing the Kawana Health Campus the region is set to benefit from the more than $3.7 billion estimated investment in other projects. This includes the $800 million Northern Interconnector Pipeline Stage 2 works and continued upgrading of the Bruce Highway.
There is more than $1.5 billion worth of commercial, industrial, residential and other projects in various stages of planning or under construction throughout the region. These include a variety of mixed used developments, retail precincts and business support facilities.