AMP Capital will own the asset until October 2036, with more than 70 per cent of the equity procured by AMP Capital’s Community Infrastructure Fund (CommIF), with the remainder from AMP Capital managed investors.
AMP Capital head of social infrastructure and aged care Julie-Anne Mizzi said, “The market for social infrastructure investment in Australia remains strong and we expect to see further demand going into 2015.
“Investors like social infrastructure assets because of the limited or no demand risk; stable, government-backed, inflation-linked returns; attractive yield and low volatility; and the fact these investments have a positive community benefit.
“The acquisition of Royal North Shore Hospital PPP further positions AMP Capital as the partner of choice for secondary social infrastructure assets in Australia and New Zealand,” said Ms Mizzi.
AMP Capital noted that The Royal North Shore Hospital PPP is now CommIF’s eleventh social infrastructure asset in Australia and New Zealand.
“AMP Capital has strong investment expertise in healthcare as well as being one of the most experienced global infrastructure managers,” said Ms Mizzi.
“We look forward to partnering with Royal North Shore Hospital and the New South Wales government during the next stage of its development,” she said.
The Royal North Shore Hospital is approximately six kilometres from Sydney’s CBD and services four local government areas, providing 750 beds.
