Media Release | 11 May 2020

Hall & Wilcox advises Australian Unity on establishment of specialist disability accommodation fund and associated capital raising

Hall & Wilcox has advised Australian Unity on the establishment of a fund holding specialist disability accommodation (SDA) and a first-round $39 million capital raising. Housing in this sector is developed for people living with a disability who qualify for NDIS SDA funding, and rental streams are backed by the National Disability Insurance Scheme (NDIS).

The Australian Unity raising has allowed the fund to invest in income-producing seed properties, including 33 specialist disability accommodation apartments and five carers’ apartments in suburban Melbourne, as reported in The Australian Financial Review, ‘Australian Unity raises for disability housing fund’. The raising has also enabled the fund to secure a pipeline of assets under development.

The specialist disability accommodation sector is growing steadily, thanks to strong investor interest. Government support for NDIS SDA is expected to sustain the sector into the future.

The cross-practice Hall & Wilcox team, led by Financial Services Partner Harry New, assisted by Special Counsel Vince Battaglia (Financial Services), provided strategic advice to Australian Unity on all legal aspects of the fund’s establishment, disclosure to investors and associated capital raising. Partner Alison Choy Flannigan (Corporate and Health and Community), provided specialised advice on the NDIS regulatory aspects of the fund. Property and Projects Partner Jane Baddeley and Special Counsel Emily Kyriacou undertook the property acquisition work. Partner Anthony Bradica, Special Counsel Jim Koutsokostas provided tax and stamp duty advice on the fund, the property acquisitions and disclosures to investors.

The Hall & Wilcox property team continues to advise on the acquisitions of property as they arise.

Harry New said, ‘The SDA sector is an important and growing property and infrastructure sector.  We were pleased to assist Australian Unity to achieve its goal of providing accessible specialist disability accommodation solutions to Australians of all abilities’.

Hall & Wilcox is a leading independent Australian law firm of around 750 people including 85 partners delivering outstanding legal services to corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia. The firm’s purpose is to enable its clients, people and communities to thrive, by practising Smarter Law – its response to disruption in the legal industry. Hall & Wilcox supports its clients to achieve their business objectives and prosper during times of change.

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