13th Dec 2021 10:08
(Alliance News) - International Public Partnerships Ltd said on Monday it has made a AUD17 million investment into a Flinders University project.
The London-based investment company said the project was rewarded as part of a consortium that included Amber Infrastructure Group Holdings Ltd and Tetris Capital Pty Ltd.
The investment will give the company 100% of the equity and a 25-year lease arrangement with Flinders University for its health and medical research building. The facility will revert to the university at the expiry of the lease term.
International Public Partnerships said the total project is estimated to cost AUD255 million.
Tetris Capital will provide ongoing management services while Melbourne-based construction company Hansen Yuncken has been appointed by the university to carry out the project build.
National Australia Bank will provide 100% of the debt required to fund the project.
Shares in International Public Partnerships were down 0.2% at 168.20 pence on Monday morning in London.
By Heather Rydings; [email protected]
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