Herbert Smith Freehills has advised the NSW Government’s Department of Enterprise, Investment and Trade (DEIT), in conjunction with the Hunter and Central Coast Development Corporation (HCCDC), in relation to the funding and development of a new multi-faculty academic and innovation campus for the University of Newcastle in the heart of Gosford on the New South Wales Central Coast.
The design, development, construction and fit-out of the new campus will include an A$18 million investment from the NSW Government, an A$22 million contribution from the University of Newcastle, and an A$18 million investment from the Federal Government as part of a A$1 billion budget funding injection for key technology and innovation precincts across the state.
The development will catalyse the ongoing revitalisation of the Gosford central business district by increasing education and new jobs, supporting health services and emerging industries, and fostering innovation and entrepreneurship.
Herbert Smith Freehills previously advised the NSW Government on the Framework Agreement which governed the process for negotiating the Project Development Agreement.
The Herbert Smith Freehills team was led by partners Nicholas Carney and Julie Couch with support from senior associates Stuart Robertson and Maxwell Wu, and solicitors Cecilia Ngu and Alice Wilk.
Nicholas Carney said, “It was a pleasure advising the NSW Government on a new university campus aimed at raising education and economic outcomes for our cities. The new campus will have a catalytic impact on the Central Coast Education and Employment Precinct.
“We have enjoyed working with DEIT and HCCDC to develop incredible opportunities for young people to work, study and live in the Central Coast.”
HSF’s other market-leading work on multi-use precinct and development projects includes advising: