Vital Healthcare Property Trust has reported a 4% increase in net property income for the six months ended December 31, 2024.
The growth in net property income was attributed to rent reviews under existing leases and leasing activity.
During the same period, the trust leased, extended, or renewed over 47,000 square metres of space, representing 18% of its total property portfolio.
This helped maintain occupancy at approximately 98% and extend the weighted average lease term to 19.1 years.
The trust also sold $47.9 million worth of non-core assets, with the proceeds being reinvested into its development pipeline.
Vital's development pipeline was further reduced, with $77.5m left to complete across four developments.
The trust's fund manager, Aaron Hockly, highlighted the strength of its portfolio and the growing demand for services from its healthcare operator tenants.
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