Deal: The Plenary Group-led consortium will deliver the $600 million flagship facility within the Randwick Health & Innovation Precinct. It is being fully funded by Plenary and industry superannuation fund-backed property investor ISPT, together with HESTA and UniSuper.

Construction is set to begin in 2023, and it is expected to be completed two years later.

Area: Banking, projects

Value: $600 million

Key players: The G+T team was led by partners Nicholas Lazarou, Peter Doyle, Kon Nakousis and Spiro Papadolias, with support from lawyers Amy Huang, Michal Magat, Sara Mohabbati, Karla Lauder, Kane Wang and Yuka Nagata.

The firm noted: “G+T advised Plenary on all aspects of the transaction, including the project and development arrangements with and long-term lease and occupancy arrangements, as well as the joint venture, capital partnership and fund through and delivery aspects associated with ISPT, HESTA and UniSuper. G+T’s role also involved advising Plenary on the competitive bid process run by UNSW and construction arrangements with the proposed construction contractor, Hansen Yuncken.”

Deal significance: Mr Lazarou said: “We congratulate the Plenary Group-led consortium and UNSW on their commitment to deliver this vital, flagship facility, within what will be the largest co-located health and innovation precinct in New South Wales.

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“Our cross-disciplined team was delighted to come together to advise Plenary on this transformational partnership and asset that will enhance health and education outcomes and deliver real community benefits for years to come, in the critical life sciences sector.”