Figtree Private Hospital in NSW’s Wollongong up for sale

Sydney, Australia – Figtree Private Hospital, a long-established private healthcare asset in the New South Wales city of Wollongong and fully leased to Australia's leading private hospital operator Ramsay Health Care, is up for sale.

Located at 1 Suttor Place in Figtree, Figtree Private Hospital is a 58-ensuited roomed rehabilitation and allied health facility with 7,277sq m of net lettable area on a 2.32-hectare site, which includes a vacant northern land parcel with an approved and registered scheme for subdivision in place.

The property is being taken to the market via an Expressions of Interest campaign run by Knight Frank's Sam Biggins and Anthony Pirrottina.  

Figtree Private Hospital delivers a broad range of rehabilitation services including inpatient neurological, orthopaedic and reconditioning rehabilitation, day rehabilitation programs, the Illawarra Early Parenting Centre and a comprehensive allied health offering under the Ramsay Health Plus banner.

A 15-bed Transitional Aged Care ward is also operated by Ramsay on behalf of the Illawarra Shoalhaven Local Health District, further strengthening the hospital's role within the region's health infrastructure network.

The existing improvements have undergone significant refurbishment in recent years, with the 58 ensuited rooms providing future flexibility for continuation of the current use or to transition to alternative healthcare or aged care uses beyond the current lease expiry, subject to relevant approvals.

Fully leased to ASX-listed Ramsey Health Care until 2035 with the tenant responsible for all outgoings, the property generates a net passing income of more than $1.55 million per year and has a CPI-linked review mechanism.

Figtree Private Hospital sits just four kilometres from Ramsay's Wollongong Private Hospital and forms a core part of the group's dominant private healthcare network across the Illawarra. The hospital has been operated by Ramsay for more than 40 years and complements the broader Illawarra Shoalhaven health infrastructure network, which is undergoing significant public and private investment.

Mr Biggins said the combination of a long lease to one of Australia's largest healthcare operators, strong demographic fundamentals and exposure to growing demand for rehabilitation services was expected to generate significant investor interest in the asset.

"Healthcare continues to be one of the most sought-after real estate investment sectors, particularly assets underpinned by major national operators and essential healthcare services," he said. 

"Figtree Private Hospital offers investors a highly defensive income stream through a long-term lease to Ramsay Health Care, Australia's leading private hospital operator, while also providing exposure to healthcare services that are becoming increasingly important as Australia's population ages.

"The hospital forms a key component of the broader Illawarra healthcare ecosystem and is well positioned to benefit from ongoing investment in health infrastructure across the region, including the significant redevelopment of the nearby Wollongong Hospital and Health Precinct.

"Investors are increasingly seeking assets that combine secure income with strong long-term healthcare demand drivers, and Figtree Private Hospital presents a compelling opportunity on both fronts, plus future optionality for conversation to an alternative healthcare or adjacent use."

Mr Pirrottina said the property's strategic location within the Illawarra region further strengthened its investment appeal.

"Wollongong is one of New South Wales' most significant regional cities and continues to experience strong population growth, supported by major infrastructure investment and its proximity to Sydney," he said.

"Figtree Private Hospital is located just four kilometres from Wollongong Private Hospital and occupies a substantial landholding in an established healthcare catchment, providing excellent connectivity to the broader region.

"The Illawarra-Shoalhaven population is forecast to grow by more than 29 per cent by 2046, while demand for rehabilitation, allied health and aged care-related services is expected to increase as the region's population ages.

"Combined with the scale of the site, the approved subdivision of the northern land parcel and the hospital's long-standing presence in the market, the property is exceptionally well positioned for longterm investment performance."

Figtree Private Hospital forms part of an established healthcare precinct benefiting from significant government investment, including the planned $220 million Wollongong Hospital and Health Precinct redevelopment and the $838 million Shellharbour Hospital and Integrated Services project currently under construction The Expressions of Interest campaign for Figtree Private Hospital will close at 3pm (AEDT) on Thursday, 15 October 2026. 

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For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.