Deal: ISPT has made an investment in the UNSW Health Translation Hub. 

Value: $600 million

Area: Finance

Key players: The Corrs Chambers Westgarth team was led by partners Andrew Leadston and Lizzie Knight. 

The pair were supported by partners Michael Chaaya, Craig Ensor, Jane Hider and Simon Reid.

Deal significance: The deal forms a partnership consisting of ISPT and super funds HESTA and UniSuper, as part of the Plenary Health consortium, led by investor and developer Plenary Group, to develop the circa $600 million Health Translation Hub (HTH) project in the heart of the Randwick Health and Innovation Precinct, a statement from Corrs explained.

“Bringing together clinicians, researchers, educators and public health, the UNSW Health Translation Hub is set to open in 2025 and will drive excellence and the rapid translation of research, innovation and education into patient care at Randwick,” the firm said.

VIEW ALL

“The HTH is ISPT’s latest investment, forming part of its $22.2 billion portfolio across office, retail, industrial, education, health and life sciences property in Australia. The deal will see ISPT through its co-investment partners ISPT Core Fund, HESTA and UniSuper own the majority of the investment in an ISPT investment vehicle.”

Commenting further on the deal, Corrs partner Andrew Leadston said: “We are pleased to advise ISPT on their investment in the UNSW Health Translation Hub. This is an exciting and important initiative, set to support and improve health services to our local communities.

“The post-pandemic world has exacerbated existing health challenges and highlighted the need and opportunity for continued investment in health and life sciences.”