17 November 2004
Key Points:
The Swinburne University of Technology has finalised arrangements to develop two new multi-purpose buildings on its Hawthorn campus. In a first for Australian universities, Swinburne has looked to a $100 million Public Private Partnership (PPP) to deliver the infrastructure.
N. M. Rothschild & Sons acted as arranger, packager and financier and co-ordinated the private sector involvement in the PPP. As adviser, Clayton Utz drew on significant project and project financing expertise both in economic and social infrastructure projects to provide the relevant guidance. The development of the Hawthorn campus is being financed through the use of a mix of senior and subordinated debt.
Probuild Constructions also forms part of the private sector portion of the partnership, and has commenced construction on the innovative development. The buildings will comprise various levels of accommodation, open plan commercial space and car parking, all designed to meet Swinburne University's ongoing needs in the developing tertiary education infrastructure sector.
The partnership between the private sector and Swinburne University is expected to continue for 25 years, after which ownership of the project will revert to the University.
For further information, please contact Brad Vann.
