International Parking Group (IPG) is paying a speculated price of about $200 million for the car park component of Perth’s Queen Elizabeth II Medical Centre.
The vendors, Catholic Super and Lendlease, were represented by the latter’s PPP advisory arm, Capella Capital, which ran the sale process from mid-year.
IPG was advised by Planum Partners (a Sydney based consultancy and investor which in July we reported acquired an office in Melbourne’s Footscray for $33.1 million).
Queen Elizabeth II is the largest medical centre in the Southern Hemisphere.
In Nedlands, about seven kilometres south of the city, it accommodates more than 40 health-related organisations.
IPG’s acquisition gives it long term concession control of over 5000 parking bays across the facility, including a multi-deck complex developed in 2013 (pictured, top).
Owned by Prime Super and First Sentier Investors, IPG builds, owns and operates – either directly or via concession – 10 car parks across Australia, now.