While commercial property and infrastructure are both real asset investments, they serve different purposes.

Commercial property is primarily focused on leasing space to businesses to generate rental income.

Infrastructure investments typically comprise essential assets that provide critical services, often underpinned by long‑term contracts, regulatory frameworks, or government involvement.

Infrastructure assets are usually:

• Essential services people and businesses rely on daily
• Capital intensive and long lived
• Difficult to replace or duplicate
• Protected by regulation, concessions, or long-term usage agreements
• Have cashflows that are linked to movements in CPI, making them an effective hedge against inflation and reliable generator of real returns

Common types of infrastructure assets include:

Transport infrastructure

• Roads, tollways, and bridges
• Airports and seaports
• Rail networks and public transport systems

Utilities

• Electricity generation and transmission networks
• Gas pipelines and distribution networks
• Water and wastewater infrastructure

Energy and renewables

• Solar and wind farms
• Battery storage and energy transmission assets
• Renewable energy infrastructure linked to long-term contracts

Social infrastructure

• Hospitals and healthcare facilities
• Schools and education campuses
• Government buildings and correctional facilities

Digital infrastructure

• Data centres
• Telecommunications towers
• Fibre and broadband networks

Infrastructure investments are commonly associated with:

• Stable and predictable income
• Long investment horizons
• Lower sensitivity to economic cycles
• Inflation-linked cash flows
• Lower liquidity, especially for unlisted infrastructure
• Exclusive access due to large capital outlay required to attain marquee assets

How can investors access infrastructure?

Investors can gain exposure through:

• Direct ownership or co-investment
• Unlisted infrastructure funds
• Listed infrastructure funds or securities
• Superannuation and institutional investment vehicles