Allens property partner Nicholas Cowie (pictured) will depart the firm for global rival Herbert Smith Freehills in October.
Mr Cowie is a seasoned real estate lawyer and has more than two decades’ experience working on a range of significant and complex matters throughout the Asia-Pacific region. He worked in the Allens real estate practice for 21 years, and served 18 of those as partner.
Highlighting the real estate lawyer’s extensive regional experience, HSF regional managing partner for Asia and Australia Sue Gilchrist said Mr Cowie would bring valuable skills to the firm.
“We are extremely pleased that Nicholas is joining the firm. As one of Australia’s leading real estate lawyers, Nicholas has developed a strong Asia-Pacific practice and has an excellent reputation in the market for his ability to combine outstanding technical legal know-how with exceptional client service,” Ms Gilchrist said.
Mr Cowie’s addition to the HSF partnership coincides with confident growth in the sector. David Sinn, HSF regional head of real estate, said the sector was showing signs of growth at home and worldwide.
“In Australia we are seeing growth in the student accommodation market [and] the hotel sector, and an increase in demand for prime assets in Sydney and Melbourne.
“Another trend we are seeing is foreign investors looking for advice around recent changes to Australia’s foreign investment regime and how to form partnerships with local associates when acquiring assets,” Mr Sinn said.
According to Mr Sinn, an average of 4.3 per cent growth was predicted for international real estate markets by 2021.
“Global real estate revenue is estimated to reach more than $4.6 billion per annum.
“In Asia, emerging economies are creating increased investment opportunities after experiencing strong industry growth over the past five years,” Mr Sinn said.
HSF recently announced its sweep of new financial year promotions, with six Australian lawyers joining the global partnership.