$600 million Health Translation Hub in Randwick tops out, marking major milestone
$600 million Health Translation Hub (HTH) in Sydney’s Randwick Health & Innovation Precinct has topped out. Photography by Ken Leanfore.
The HTH is a partnership between UNSW Sydney and the development consortium, with the university signing a 20-year commitment to occupy two-thirds of the facility. Photography by Ken Leanfore.
Internal works will now continue on the site, which will have a net lettable area of 30,927 sqm when complete. Photography by Ken Leanfore.
A consortium consisting of property fund manager ISPT, superannuation funds HESTA (through its healthcare property mandate with ISPT) and UniSuper, and developer Plenary Group, have topped out the $600 million Health Translation Hub (HTH) in Sydney’s Randwick Health & Innovation Precinct at a ceremony attended by NSW Health Minister Ryan Park.
The HTH is a partnership between UNSW Sydney and the development consortium, with the university signing a 20-year commitment to occupy two-thirds of the facility focusing on teaching, research and community engagement.
The project is being funded by ISPT, HESTA (through its healthcare property mandate with ISPT) and UniSuper alongside Plenary Group.
Hansen Yuncken, one of the largest privately owned commercial building contractors in Australia, commenced work on site in September 2023 and has now topped out the 15-storey health education and research building. Internal works will now continue on the site, which will have a net lettable area of 30,927 sqm when complete.
The project will target industry leading sustainable objectives, aiming to bring together a 6-Star Green Star Rating, net zero emissions, 100 percent renewable power, PV solar installation and a 5.5-Star NABERS Energy Rating.
Elsewhere in the sector, ISPT – alongside mandate partner HESTA – broke ground earlier this year on their 12,096sqm A-Grade commercial building at 33 Victoria Parade, Fitzroy. Hansen Yuncken has been appointed to undertake the build – the 12-storey building will have an end value of circa $140 million and is targeted to have a 5 Star Green Star rating and 5.5 star NABERS Energy rating.
Quotes attributable to Jason Lourensz, Head of Development, Healthcare, Life Sciences and Education at ISPT:
“The Health Translation Hub topping out marks a significant milestone for our team. We see the healthcare and life sciences sector as highly strategic and defensible, and we look forward to continuing to grow our portfolio of high-quality, sustainable assets that cater to the needs of future-focused operators.
Quotes attributable to Head of Portfolio Management, Jeff Brunton, HESTA:
“HESTA has a proud history of investing in healthcare and life sciences as one of the largest Australian super funds dedicated to health and community services. The topping out is an exciting milestone for the Health Translation Hub, which is a prime example of how HESTA is investing in world-class health infrastructure to help deliver strong, long-term investment performance for members while supporting critical health education and research.”
Quotes attributable to Kent Robbins, Head of Property, UniSuper:
“We’re very pleased to see the project meet this important milestone, and we look forward to seeing the Hub move into its next phase. We’re confident this will provide sustainable returns for our members and pay dividends in research outcomes for many years. It is a natural fit for UniSuper given our rich heritage in the higher education and research sectors.”
For further information please contact:
Nicole Grove
General Manager, Communications
E: ngrove@ispt.com.au
M: 0427 916 166
