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Sydney Fish Markets secures $750m for redevelopment
K&L Gates has advised Sydney Fish Markets on a redevelopment with the assistance of a NSW government funding of $750 million.
Naomi Neilson
Firm: K&L Gates (Sydney Fish Market)
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Deal: K&L Gates has advised Sydney Fish Markets on a redevelopment, secured with a $750 million fund announced by the NSW government.
Value: $750 million.
Area: Redevelopment.
Key players: The team was led by corporate partner Murray Landis and supported by special counsel Nicholas Heinecke. Real estate partner Samuel Brown advised on the redevelopment, with support from special counsel Tracey Jordan. Partners Matthew Cridland and Betsy-Ann Howe provided advice on various tax matters.
Deal significance: The redevelopment will see the tourist destination relocated to the head of Blackwattle Bay in Pyrmont and transformed into a “world-class attraction”. It will feature sustainable design, more retail floor space, expanded food offering service, more seating and an improved overall experience for visitors.
The new site will also include additional public spaces, such as recreational wharves and an amphitheatre waterfront promenade.
The current Sydney Fish Markets is “one of Sydney’s most significant attractions”, and is visited by 20 per cent of all international tourists. The redevelopment is predicting to drive even further tourism to NSW, while supporting additional jobs.
Mr Landis said: “We are delighted to congratulate Sydney Fish Market on achieving this milestone. Our firm has had the pleasure of working closely with Sydney Fish Market for the past 25 years, during which time we have advised on numerous redevelopment plans with the full spectrum of legal matters.”
“Having developed a deep understanding of our client’s business and industry, and having been intimately involved with every aspect of this current project, our K&L Gates team truly appreciates just how exciting it is for Sydney Fish Market to be starting this next chapter.
“The redevelopment will bring with it numerous benefits for our client and so many others, and we look forward to continuing our work with Sydney Fish Market as it develops.”
