AMP Capital, through its AMP Capital Diversified Infrastructure Trust, has entered a 40-year student residencies contract with the University of Melbourne.
Two facilities would be refurbished and constructed at the University’s Parkville campus, and the Trust would be the preferred funding partner for any additional student residence projects.
The concessions include the responsibility for facilities management services like building maintenance, which was previously outsourced to Spotless, but the University retains operational responsibility.
Portfolio manager of the Trust, Brad Williams, said tertiary education was Australia’s third-largest export sector, benefitting from significant increases in international enrolments with annual growth of 11 per cent.
“The concession agreement will support the University of Melbourne’s growth as a globally-esteemed education provider while delivering long-term inflation-linked cashflows for our investors,” he said.