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Lend Lease, Examplar to Build $2 Billion Sunshine Coast University Hospital

Lend Lease consortium selected on Sunshine Coast University Hospital
18 July 2012

Lend Lease today announced that it has been selected as part of the successful consortium by Queensland Health to deliver the A$2 billion Sunshine Coast University Hospital, a new tertiary hospital to be built at Kawana in Queensland.

Lend Lease and the Exemplar Health consortium will work with Queensland Health to enter into a public private partnership arrangement to design, construct, maintain and finance the hospital.

The consortium will deliver a 738 bed tertiary level hospital, with stage one scheduled for completion in late 2016 and further stages planned for commissioning in mid 2018 and mid 2021.

Lend Lease’s project management and construction business will perform the design and construction and Lend Lease’s infrastructure development business, Capella Capital, is acting as financial adviser to the consortium. Lend Lease will invest 50% of the equity in the Exemplar Heath project vehicle.

Lend Lease Group Chief Executive Officer and Managing Director, Steve McCann, said the Group was pleased to be working with Queensland Health on this significant project.

“Lend Lease has a strong track record of health infrastructure delivery in Queensland and this latest award confirms the experience and track record of our business in the health sector and the strength of Lend Lease’s integrated model being applied to the infrastructure sector,” said Mr McCann.

Financial close on the project is expected by the end of July 2012 followed by the commencement of construction.

About Marc Pallisco

Marc is a leading Real Estate freelance writer, author and analyst. He is also the founder for and is also employed as lead property writer for The Age. He currently resides in Melbourne, Victoria.

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