00:00 After decades hosting television production, this site in Newtown was slated to become
00:07 a private hospital, with operating theatres, overnight beds and allied health services.
00:14 Now it's likely to remain empty for the foreseeable future. Nexus Hospitals has scrapped the project,
00:20 blaming higher construction costs and interest rates.
00:24 It does squeeze the financial viability of projects and you know the Nexus Hospital is
00:29 one of those. It's unfortunate to see that that project has fallen over because the finances
00:34 no longer stack up.
00:36 The medical community had hoped some public elective surgeries could have been done at
00:40 the hospital.
00:41 While this wouldn't have a direct effect on the public sector, it would allow the public
00:46 sector access to more beds for outsourcing.
00:49 This site is close to the city, it's close to shops and services and public transport
00:54 and that's led some, including Hobart's Lord Mayor Anna Reynolds, to say it should be used
00:59 for affordable housing.
01:01 But any future developer is likely to face the same cost increases as the previous one.
01:08 The hospital's construction cost blowouts have been ceased on by opponents of the Tasmanian
01:13 Government's proposed Macquarie Point Stadium.
01:16 Factor in that construction of a stadium would be beginning in two years at the very best.
01:22 I think nobody believes the Premier when he says this is a $715 million project.
01:27 Look we've got contingency within that and we'll work through the planning process.
01:33 The Newtown site will now be put back on the market.
01:35 [BLANK_AUDIO]
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