Deal: Norton Rose Fulbright has advised the University of Wollongong on the commercial close of a health and wellbeing precinct development.

Value: $500 million

Area: Infrastructure, Education

Key players: NRF’s team was led by partners Rob White and Michael McKee.

Partners assisting included Nicholas Brunton, Kevin Arkwright, Elizabeth Wild, Ben Smits, and Jacques Jacobs.

Special counsel Thomas Kwok, and senior associate Sarah Mansfield were among others who assisted from the Sydney office.

Deal significance: The state-of-the-art health and wellbeing precinct will sit on the University’s Innovation Campus in Wollongong, it was noted.

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Norton Rose Fulbright explained that the university will partner with Lendlease on the project “to jointly design, develop and deliver a 7.5 hectare precinct centred around the University’s ‘intoHealth’ Primary and Community Health Clinic, alongside a 126-bed residential aged care facility, 199 independent retirement living units, an 80-place childcare centre and recreation facilities, as stage 1 of the project”.

The precinct will be modelled on the United States’ Mayo Clinic, a statement said, and will be Australia’s first University-led clinic offering intergenerational, patient-centred healthcare.

Norton Rose Fulbright noted that the development is a key part of the university’s health and wellbeing strategy, and will integrate non-surgical health care and aged-care facilities within a research and teaching environment.

It will provide “opportunities for the University and its students to collaborate with private care operators to develop and deliver new models of patient-centred care while training the next generation of healthcare professionals”, it was stated.

Norton Rose Fulbright noted that it advised the University of Wollongong through all procurement stages of the project to commercial close.

Co-lead partner Rob White said “we are proud to have acted for the University of Wollongong on yet another ground-breaking project”.

“We assisted the University to address a wide range of challenging issues, including long-term collaboration arrangements with the retirement living and aged care facility operators, as well as working with academic staff to ensure a strong focus on the research and learning potential of the facilities,” he continued.

Michael McKee also commented, noting that “the Innovation Campus Health and Wellbeing Precinct, which is an Australian-first, will bring significant benefits to the community including researchers, academics, students, patients and their families”.

“It is an ambitious project which we are thrilled to have partnered with the University on.”