AMP Fund Acquires Stake in Victorian Cancer Centre


AMP Capital has taken a 21 per cent stake in a $1 billion state-of-the-art cancer research centre in Victoria.

Through its unlisted infrastructure investment vehicle, the Community Infrastructure Fund, AMP acquired Partners Group’s 21 per cent stake in the Victorian Comprehensive Cancer Centre (VCCC). The fund raised $360 million through a rights-issue offer in September 2017.

The cancer centre operates as a public-private partnership (PPP) with the Victorian state government under a 25 year contract.

The 13-storey centre houses the Peter MacCallum Cancer Centre with 160 inpatient beds, 110 day beds and eight operating theatres. It can host up to 1,200 researchers and offers education and training facilities.

[Related reading: AMP Capital Acquires Stake in Brookfield’s Wynyard Place Development]

Retirement village operator Aveo sold its Gasworks Plaza retail and office complex at Newstead in Brisbane to AMP Capital in December 2017

“This acquisition is a great start to the year for CommIF and I am extremely pleased to have secured a stake in VCCC for our clients,” AMP Capital head of social infrastructure and aged care Julie-Anne Mizzi said.

We are also excited to see increased interest in CommIF from overseas investors. CommIF holds a strong track record in the social infrastructure market, showcasing its position as a leading investor and manager of PPP assets.”

Late last year AMP Capital bought the 8,740 square metre Gasworks Plaza complex in inner-city Brisbane for $248.4 million.

[Related reading: AMP Capital Funds Buy $800m Stake in Indooroopilly Shopping Centre]

The mixed-use development includes a neighbourhood shopping centre, anchored by a Woolworths supermarket and almost 9,000 square metres of office space across two buildings.

A third component of the development, 1,100 square metres of retail space, is currently under construction.

CommIF invests in high-yield, brownfield, social infrastructure PPP assets in Australia and New Zealand in sectors such as education, health, justice, defence, community housing, recreational facilities and transport. The fund now has 13 assets worth more than $650 million.

Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: