Footscray Hospital reaches financial close
Clayton Utz has advised Plenary Group on the financial close on the multibillion-dollar new Footscray Hospital.
Firm: Clayton Utz (Plenary Group).
Deal: The Footscray Hospital has reached financial close.
Value: $1.5 billion.
Key players: The legal team advising Plenary Group was led by Clayton Utz projects and debt finance partner Marcus Davenport.
Mr Davenport led a multidisciplinary team from the firm, which included special counsel Virginia Owen, senior associates Annabelle Holcombe and Vishal Devraj, and lawyers Claire McBride, Henry Matthys, Venissa Chow – from the banking and financial services practice – and senior associate Kate Allison and partner Brendan Groves – from the firm’s corporate practice.
Deal significance: The Footscray Hospital is the single largest health infrastructure investment in Victoria.
As per a statement from Clayton Utz, the hospital is being delivered as a public-private partnership, with Western Health as the public operator of all clinical services and Plenary Health – comprising Plenary Group (sponsor, investor and asset manager), Multiplex (builder), Honeywell and Compass Group (facility services providers) and Sojitz Corporation (investor) – contracted by the Victorian government to finance, design, construct, and maintain the hospital for 25 years following construction completion.
Upon opening in 2025 the hospital will feature over 500 beds, enabling care for almost an additional 15,000 patients and an extra 20,000 people to be seen by the emergency department each year. It will also deliver more outpatient, palliative care and mental health services ensuring the community can access quality care closer to home, Clayton Utz’s statement explained.
“I’m really proud of how our team – whose expertise spanned banking, environment and planning, real estate and major projects and construction – worked together to achieve this project milestone. It was a truly collaborative, cross-practice group effort,” said lead partner Mr Davenport.
“We’ve worked with Plenary Group for almost 15 years now on many projects of State significance, and we’re pleased they continue to place their trust in us as their legal advisers.”