MELBOURNE, AUSTRALIA: Plenary Group has added another project to its growing list of assets under management, taking over the management of Peninsula Link in southeast Melbourne.
The 27-kilometre toll-free road between Carrum Downs and Mount Martha was procured under a public-private partnership with the Victorian Government and opened to the public in January 2013.
Plenary has taken over the asset management role on behalf of Southern Way, the entity contracted to operate Peninsula Link under a 25-year concession.
Plenary Group Chief Operating Officer Glenn Hay said Peninsula Link complements Plenary’s other road projects across Australia, Canada and the US, including the A$1.6 billion Toowoomba Second Range Crossing currently under construction in Queensland.
“We are excited to be taking over such as strong asset, and one that complements our existing portfolio of projects so well,” Mr Hay said.
“Our asset management team is looking forward to the long-term relationship with Southern Way and the broader road user community to ensure the smooth and continued running of the road.”
Peninsula Link adds to the growing number of special purpose vehicles (SPVs) now under management by Plenary in Australia, including Mater Hospital, Royal North Shore Hospital and Wollongong Student Accommodation.
Plenary is now responsible for delivering or managing 60 assets across Australia, Canada and the US.
Mr Hay said Lendlease Services will continue to provide on-site operations and maintenance services under the terms of its agreement with Southern Way.
+61 3 8888 7754
+61 418 530 806