Leading law firm MinterEllison has advised the Plenary Group-led Plenary Conventions consortium on the $456 million Nyaal Banyul Geelong Convention and Event Centre precinct development.
The convention centre is being delivered as a precinct partnership under the Victorian Government's new infrastructure procurement framework, with Plenary Conventions to finance, design, construct and maintain the facility for 25 years in partnership with the Victorian Government and its funding partners under the Geelong City Deal, the Australian Government and City of Greater Geelong.
Situated on Wadawurrung Country along the Geelong waterfront, the precinct will feature a purpose-built convention and exhibition space, a 1,000-seat venue, two expansive exhibition areas, conference facilities, adaptable event spaces and meeting rooms.
The broader development of the area encompasses private sector investments, notably an initial $120 million commitment towards Geelong's largest hotel, a 200-room Crowne Plaza, alongside an additional $130 million proposed for future educational and commercial spaces within a mixed-use precinct.
Owen Cooper and Stewart Nankervis, Partners Projects, Infrastructure and Construction together led a multi-disciplinary team that advised on all aspects of the procurement process, negotiation and documentation of bid, downstream contracts for the construction and operations phase services, hotel management and interface arrangements between the three precinct developers. Our role also included all aspects of the project's financing including negotiating debt terms sheets, mandate and commitment letters, a syndicated facility agreement, security arrangements and interest rate hedging.
Owen Cooper commented: "We are thrilled to have advised the Plenary Group consortium on the transformative $456 million Nyaal Banyul Geelong Convention and Event Centre precinct development. Our team facilitated comprehensive financing negotiations and pivotal partnerships between Plenary Conventions, the Victorian Government and the consortium members ensuring the success of this visionary project. From navigating complex financing to fostering seamless collaboration, we're proud to have played a key role in bringing this purpose-built, waterfront convention space and adjacent hotel and commercial developments to life."
