Spotless wins 42-year contract

21/11/2017

Spotless has secured a contract for a new innovation precinct.

Spotless has secured a contract as facilities manager for a consortium led by Lendlease, who will deliver a new innovation precinct for the University of Melbourne.

Spotless will act as the facilities manager of the precinct over a 42-year period. Lendlease will act as the developer, builder, co-investor and investment manager of the commercial space; GIC as major co-investor of the commercial space; and Urbanest as investor and manager of the student accommodation.

The innovation precinct will be located at the former site of the Royal Women’s Hospital, on the corner of Swanston and Grattan streets. The area will be redeveloped into a place where industry, researchers, students, government and the community can co-locate and collaborate to foster new ways of thinking, learning and operating.

The development will also be home to Science Gallery Melbourne and will include student accommodation, retail, public spaces and childcare.

“This contract has reaffirmed Spotless’ position as an industry leader for social infrastructure PPPs across Australia and New Zealand. In addition to this contract Spotless currently has 16 operational projects,” said Dana Nelson, Chief Executive Officer of Spotless.

The consortium expects financial close to be reached in early 2018.  Early works will start in November 2017 and, subject to planning approvals, construction will commence in 2018.