The Healthcare Wholesale Property Fund (HWPF) owns Australia's first portfolio of hospital and healthcare assets that has an environmentally sustainable development focus.
Leading real estate group Dexus is developing the fund and has seeded it with $370 million in assets including the 12-storey 343-bed Calvary Adelaide Hospital, which is currently under construction, and GP Plus Health Care also in Adelaide.
Dexus has identified a further $445 million of potential pipeline opportunities including North Shore Health Hub in St Leonards in Sydney and a medical research facility in Adelaide.
The fund will catalyse new standards in energy efficiency and clean energy in the healthcare sector.
There are currently no defined standards for energy efficiency in healthcare buildings and yet healthcare facilities typically use far more energy than standard office buildings because they often run extended hours, have high hot water consumption, air conditioning and specialist medical equipment requirements.
The HWPF is targeting emissions reductions of 45 per cent in both new and existing buildings when compared to the Council of Australian Governments (COAG) Baseline Energy Consumption in commercial buildings.
New buildings will target a Green Star Design and As Built rating of 5 Stars and target a Green Star Performance Rating.
Over the long term, HWPF is targeting a portfolio of net zero carbon outcomes, including low-emission transport options, such as electric vehicles, ride sharing and integration with local transport infrastructure. Tenants and hospital users will also be encouraged to adopt energy efficient practices.
The CEFC has committed up to $100 million to HWPF.