Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised ISPT on its investment in the UNSW Health Translation Hub.

A partnership consisting of property fund manager ISPT, and super funds HESTA and UniSuper, as part of the Plenary Health consortium, led by investor and developer Plenary Group, have concluded a transaction to partner with UNSW Sydney to develop the circa A$600 million Health Translation Hub (HTH) project in the heart of the Randwick Health & Innovation Precinct

Bringing together clinicians, researchers, educators and public health, the UNSW Health Translation Hub is set to open in 2025 and will drive excellence and the rapid translation of research, innovation and education into patient care at Randwick. 

The HTH is ISPT’s latest investment, forming part of its A$22.2 billion portfolio across office, retail, industrial, education, health and life sciences property in Australia. The deal will see ISPT through its co-investment partners  ISPT Core Fund, HESTA and UniSuper own the majority of the investment in an ISPT investment vehicle.

Corrs advised ISPT on all aspects of the transaction and deal structure, led by partners Andrew Leadston and Lizzie Knight. The team were supported by partners Michael Chaaya, Craig Ensor, Jane Hider and Simon Reid, bolstered by expertise from Corrs’ real estate, banking and finance, financial sponsors and projects practices. 

Commenting on the matter, partner Andrew Leadston said: “We are pleased to advise ISPT on their investment in the UNSW Health Translation Hub. This is an exciting and important initiative, set to support and improve health services to our local communities.

“The post-pandemic world has exacerbated existing health challenges and highlighted the need and opportunity for continued investment in health and life sciences.” 

Luke Briscoe, Group Executive, Investor Solutions at ISPT said: “The newly established joint investment partnership allows ISPT to invest for and on behalf of our investors, and is central to ISPT’s renewed group strategy, which is to create and tailor bespoke investment structures and products to accommodate our investors’ evolving needs.

“Our partnerships platform is focused on bringing likeminded investors together to increase their direct exposure to unique investment opportunities in specialised sectors; with the HTH offering access to future growth companies including biotech, med-tech and research institutes to provide long-term value for our investors.

“We are driven to partner with our investors and form compelling offerings that leverage our size and access to market via partnerships, supporting our investors’ aspirations to curate a high performing diversified portfolio.”