Victoria University and ISPT announce new CBD campus

Artist's impression

ISPT has been awarded the tender to partner with Victoria University and the Victorian Department of Education and Training to develop a new 32-storey vertical campus in the heart of Melbourne CBD, to be leased back to the University under a 30-year agreement.

The Victoria University Precinct project is a prime example of ISPT’s strategy to pursue true development opportunities in partnership with customers to unlock development returns for our Investors.

Daryl Browning, ISPT’s CEO said: “We look forward to working collaboratively with Victoria University to ensure we deliver a new campus and educational environment that meets the current and future needs of staff and students, while creating an architectural statement befitting the prominence of the site in a CBD context.

The transaction demonstrates the long-term capital alignment of industry superannuation funds with the tertiary education sector.

This project is a key addition to our development pipeline and represents an important milestone in our participation into the education sector. Education is a major services export contributor, critical to the economy over the medium to long term, and this project will diversify our exposure and that of our Investors to this important sector.”