Royal Melbourne Showgrounds
Royal Melbourne Showgrounds
The project based in Victoria reached Financial Close in June 2005 and staged the 2006 Royal Melbourne Show at the newly constructed and refurbished facilities at the Royal Melbourne Showgrounds. The project includes a diverse mix of modern and heritage-listed office and exhibition buildings on the 19-hectare site.
About
The public sector client is a joint venture between The Government of the State of Victoria and the Royal Agricultural Society of Victoria.
The construction works included a grand pavilion, a town square, revitalised main entrance and boulevard, new exhibition space and an outdoor animal competition area. The redevelopment included applying a much needed facelift to old structures, in line with heritage requirements. Works were completed in August 2006. Two-thirds of the 27 hectare site (19 hectares) has been developed as a show venue. The non-core land has been redeveloped into a retail facilities and transport hub.
Key impacts and benefits
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Why we invested
PPPs provide much needed critical infrastructure often replacing older public sector properties with new state of the art facilities operated by experienced facilities management contractors. This project not only constructed new facilities but refurbished heritage facilities on site.
The new established Showgrounds facilities has enhanced the Royal Melbourne Show and helped build on the link between urban and regional Victoria by creating a flexible, multipurpose events and exhibition precinct.
The project provides stable long-term, index-linked cash flows backed by high-quality public-sector counterparties.
The project was a 50/50 joint venture with D&C Co and reflected the consortium also formed for the Long Bay Hospitals project. In December 2010, INPP acquired D&C Co’s shares from both projects and INPP now controls 100% of both projects.
Sustainable Development Goals (SDGs)
2030 Agenda for Sustainable Development adopted by UN Member States in 2015
SDGs supported:
Outcomes
- Infrastructure: In addition to traditional investments in transport, health, justice and education, social infrastructure such as the Showgrounds directly impact both urban and regional communities.
- Public facilities: The Showgrounds are the largest and most flexible indoor/outdoor venue space in Melbourne and home to the annual Melbourne Royal Show, as well as major exhibitions, trade shows, and music concerts.
- The Melbourne Royal Show: This is the Victorian major event that brings the community together to celebrate agriculture – producers, products and produce - from rural and regional Victoria to greater Melbourne.