Last checked at 
13 Dec 2021 07:00
New investment in South Australian University project
International Public Partnerships Limited ('INPP' or 'the Company'), the listed infrastructure investment company, is pleased to announce that it has reached financial close on the Flinders University Health and Medical Research Building ('HMRB', the 'Project') in South Australia. The Company was awarded the Project as part of a consortium which included Amber Infrastructure and Tetris Capital.
The HMRB is the flagship development of the Flinders Village project, an integrated health and education precinct development on Flinders University's Bedford Park campus. With a total project cost of approximately AUD255 million, the HMRB will co-locate research, clinical and technological platforms to further the University's longstanding contributions to the health, education and medical sectors. With over 26,000 students, Flinders University is a public institution and the third largest university in South Australia.
The Project is being developed in accordance with the University's sustainability guidelines and is targeting a minimum of 'gold' ratings for WELLv2 and LEED v4 certification and a 5 star rating for Green Star certification. By fully integrating health and sustainability into the design of HMRB, the Project will support several of the Company's Sustainability Policy Aims.
INPP has committed to invest AUD17 million for 100% of the equity required for the Project via its subsidiary (HMRB 1 Pty Ltd as trustee for the HMRB Project Trust) which will enter into a 25-year lease arrangement (with a fixed indexing rental) with the University with the facility reverting to the University at the expiry of the lease term. Tetris Capital led the successful bid and will provide ongoing management services to the Project while Flinders University have appointed Hansen Yuncken to carry out the Project build. National Australia Bank will provide 100% of the debt required to fund the Project.
The Company's investment commitment will be secured against its corporate debt facility until March 2025.
ENDS.
For further information:
Erica Sibree/Amy Edwards +44 (0)20 7939 0558/0587
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039FTI Consulting
About International Public Partnerships (INPP):
INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.
INPP is a responsible, long-term investor in over 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of over 150 staff who are responsible for the management of, advice on and origination of infrastructure investments.