RAM Opens New Healthcare Hub for Sydney’s Inner West, Delivering Value to Investors Through Disciplined Asset Realisation
On 15 October 2025, RAM’s Director of Funds Management, Mike Nguyen and Group COO Craig Thompson joined Burwood Mayor John Faker and Dr Monique Moloney from Myhealth to officially open Elsie Suites, a new state-of-the-art healthcare centre at 8 Elsie Street, Burwood.
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The project marks a significant investment in local healthcare infrastructure. Over the past 18 months, RAM has made a multi-million-dollar investment to transform the former government office into a modern, purpose-built healthcare and commercial hub.
The medical centre represents a win-win for the community and investors. For the community, Elsie Suites brings together a range of specialists and allied health services under one roof. For RAM investors, the project delivers maximum value through disciplined asset realisation and demonstrates the firm’s ability to unlock hidden value through adaptive reuse of office assets.
RAM’s vision is to create a busy medical precinct that nurtures a whole healthcare ecosystem, further strengthening Burwood as the leading centre for healthcare in Sydney’s Inner West.
From concept to completion in 18 months
Since February 2024, RAM has moved swiftly from concept to completion — delivering a full building renewal with brand-new mechanical, electrical, hydraulic and air-conditioning systems, and completely refurbishing the on-floor experience throughout.
A flagship 650sqm Myhealth Medical Centre is already trading on the ground floor on a long-term lease and more healthcare tenants are fitting out in the other five levels.
When fully operational, the precinct is envisaged to service around 100,000 patients each year, helping to reduce wait times and bring essential healthcare closer to the community across Sydney’s growing Inner West.
It’s an example of how RAM can create trophy-grade healthcare investments aligned with structural demand for community-based medical services — delivering real impact for both investors and the community.
A diverse, connected and growing suburb
Burwood is one of Sydney’s highest density suburbs with 40,000 residents. Around 12km west of Sydney’s CBD, the diverse and affluent inner-west suburb is ideally located as a central hub for professionals and patients. With the Metro West line set to open in 2032, Burwood is growing rapidly and set to become even more connected and accessible.
Recently named the Coolest Neighbourhood in Australia (and 16th globally) by Time Out, Burwood has earned recognition for its strong sense of community, cultural diversity and evolving urban character.
Investing in Australian healthcare
Elsie Suites is a showcase of RAM’s office-to-healthcare conversion strategy in one of Sydney’s most dynamic medical catchments.
With increased life expectancy driving demand for acute and long-term healthcare, RAM is committed to investing in Australian healthcare.
RAM manages a number of healthcare real estate assets in listed and unlisted investment funds across the risk spectrum, including the RAM Essential Services Property Fund (ASX: REP), the RAM Australia Healthcare Opportunity Fund and the RAM Australia Diversified Property Fund (RDPF).
Elsie Suites forms part of RDPF, which offers diversified direct real estate investment across defensive sectors.
