Wakefield Hospital is operated by Evolution Healthcare, a leading healthcare provider, and serves as the largest private hospital in the Wellington region. The hospital is currently undergoing a comprehensive redevelopment. The completed facility will include 8 operating theatres, 47 beds, a 3,000sqm medical consulting building, and over 260 on-site car parks. The redevelopment is being executed in stages to ensure minimal disruption to ongoing services.

Stage 1 of the project, which has been completed, involved the construction of a new building that houses medical specialist consulting spaces, a full radiology unit, and new administration and front-of-house areas. This stage earned an excellence award at the 2022 Property Council Awards in the Civic, Health, and Arts category. Stage 2, which is underway, includes the addition of new theatres and beds, with demolition completed and earthworks commenced. The project incorporates a base-isolated design to reduce the risk of critical damage during earthquakes and to enhance the likelihood of service continuity following a significant seismic event.

The total value of the redevelopment works is approximately $141m. The development costs are being converted into additional rent for Evolution Healthcare, based on an agreed return on cost.