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HESTA, UniSuper and ISPT to develop A$600m healthcare hub in Sydney
The University of New South Wales (UNSW Sydney) has contracted the Plenary Group–led Plenary Health consortium to deliver the A$600 million (US$388 million) Health Translation Hub — one of the marquee developments within the Randwick Health & Innovation Precinct, a suburb of Sydney.
The long-term partnership involves Plenary Health funding, developing and operating the 35,600-square-metre facility, supported by an initial 20-year commitment from UNSW to occupy 65 percent of the available space. The remaining space will be open to industry, providing an opportunity for like-minded partners to co-locate with the university within the hospital precinct.
The project is being fully funded by Plenary Group and ISPT, an industry superannuation fund-backed property investor, together with HESTA and UniSuper, the health and education sector superannuation funds. Plenary — an Australian investor, developer, and manager of property and public infrastructure — is also