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Raine Medical Research Foundation Named Charity Partner of Choice

12.10.2017

  • Charter Hall to be corporate custodian of Raine name and legacy
  • Corporate commitment to ensure work of Raine Foundation continues
  • Hosting Raine Square Perth Heritage Days exhibition  

Charter Hall Group (ASX:CHC), a leading fully integrated property group and owners of Raine Square in Perth’s CBD, is pleased to announce that it has chosen the Raine Medical Research Foundation as its charity partner of choice undertaking a corporate commitment to help support the Foundation’s future funding of medical research.

The Raine Medical Research Foundation, has allocated (distributed) more than $50 million for medical research, and commits in excess of $1.3 million for research programs every year. It has supported scores of major research projects, funded two Centres of Excellence, established fellowships and scholarships, sponsored the visits of numerous international scholars, participated in major joint ventures, and fostered medical research at the undergraduate level.

Past recipients of research grants from the Foundation include Dr Fiona Wood, Dr Fiona Stanley and Professor Lyn Beazley.

“We remain committed to the ongoing work of the Raine Medical Research Foundation.  I see this partnership as another step in continuing the wishes of Mary Raine,” said Andrew Borger, Head of Office Portfolio Charter Hall.   

“The opportunities that exist between Charter Hall and the Raine Foundation for a collaborative partnership are ongoing, and we are delighted to help continue to support medical research in Western Australia – and that is very important for all of us.” 

“We’ve been so enthralled by the Mary Raine story. She was a woman of great tenacity, a business leader of her day and whose legacy we want to honour by helping the community to make the connection between Raine Square and the work of the foundation she established to benefit medical research.”

The Raine Medical Research Foundation was established in 1957 when Mary Raine bequeathed her entire property estate to the University of Western Australia for medical research. The estate included the Raine Square site, including the two heritage hotels.

The Foundation is administered by a Research Committee appointed by the University Senate in accordance with the Deed of Trust. Its main objective is to fund investigative research into human disease and it has supported major medical research projects, fellowships and scholarships, and participated in major joint ventures since its inception.
 
“We welcome the support of Charter Hall,” stated Lyn Ellis, Director, The Raine Foundation.  “It’s important that we continue the important medical research that Mary Raine envisaged and continue her legacy to drive greater positive good. 

“The Foundation continues to fulfil its principal goal – and the wishes of Mary Raine – of supporting the brightest and best young medical research minds in Western Australia.”

Charter Hall undertook an extensive multi-million dollar redevelopment of Raine Square to transform the central CBD site in Perth into a seven day a week entertainment, dining and retail precinct. The redevelopment delivered 40 new stores and welcomed Palace Cinema, the first cinema in the Perth CBD since 2013.

Charter Hall continues to deliver on its plan to transform Raine Square into a major Perth destination. In honour of Mary Raine, the original owner of the precinct,  the heritage-listed Hotel Wentworth and Royal Hotel have been restored and maintained. 


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