BLAKE DAWSON has acted for the Children’s Health Partnership consortium in its successful bid for the new Royal Children’s Hospital Project, now Australia’s largest healthcare public-private partnership (PPP).
The $1 billion deal will see the hospital become the region’s pre-eminent paediatric teaching hospital, said lead Blakes partner Jeremy King.
Allens Arthur Robinson worked on the finance of the deal, using Sydney partners Richard Gordon and Mark Kidston and senior associate Douglas Fung.
The tertiary paediatric hospital will be the largest health care PPP to be built in Australia and hospital construction due to be completed in 2011. Stage two construction works will extend to 2014.
The Children’s Health Partnership consortium, consisting of Babcock & Brown as sponsor, Bovis Lend Lease as builder and Spotless Group as facilities manager, will be responsible for the financing, design, construction and maintenance of this state-of-the-art facility.
The new hospital aims to be Australia’s first five-star Green Star hospital with a range of green features, including a black water treatment plant, rainwater collection, gas-fired cogeneration plant, solar panels and efficient lighting, heating and cooling systems.
As part of the redevelopment, the consortium will fund and deliver a 90—100-room three-star hotel, childcare centre, expanded food shops, a small supermarket and a gymnasium.
The new hospital will also have a range of interactive playgrounds, a coral reef aquarium, a beanbag theatre, healthy food kitchen and garden, and a state-of-the-art entertainment system with each patient bed.
“The successful bid is a tremendous result for the consortium led by Babcock & Brown. The Blake Dawson team drew on experts from its financial services, construction and infrastructure, real estate, environment, industrial relations and tax teams to analyse the specific legal risks associated with this project and deliver a fair and reasonable risk allocation between all stakeholders,” said Blakes partner King.
“The government tender process moved quickly and efficiently to financial close once two consortia had been short-listed. Given the complexity of the contractual documentation, this was a great achievement for all parties involved, including their advisers, and reflected the importance of this project to the state of Victoria and the wider region,” he said.
King was joined by Blake Dawson senior associate Mark Disney and Stacey Steele, Melbourne partners Bruce Whittaker, Martin Kudnig and Nyla Bacon, Andy Haining, Steve Snow, Kara Vague, Jackie Grant and Liz Hunt.