Royal Children’s Hospital Development, Parkville, Changes Hands For Second Time in a Year

The Channel Islands-based company which has been responsible for the project since last June, Babcock & Brown Public Partnerships (BBPP), plans to change its name to International Public Partnership, and restructure management of the project, which is well over budget.

Directors of the company also plan to replace Babcock & Brown Investment Management with an associated company, the Amber Infrastructure Group, based in London.

BBPP, based in the Channel Islands tax haven of Guernsey, paid about $A91 million for the development last year.

A government spokesman told the Herald Sun the decision has no effect on the delivery of the hospital, which is scheduled to open in 2011.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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