Victoria University and ISPT announce new CBD campus
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.”