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Penrith Council advised on new city centre
Dentons has advised Penrith Council on its plans to build a new city centre, comprising residential buildings, a car park, child care facilities, a public plaza and landscaped communal areas.
Jerome Doraisamy
Firms: Dentons (Penrith Council); unknown (Frasers Property Group).
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Deal: Penrith Council have entered into a Project Delivery Agreement with Frasers Property Australia to build the existing Union Road Carpark into a new city centre, as part of a plan to “transform” the “increasingly important and growing metropolitan area”.
Area: Real Estate
Value: Undisclosed
Key players: The Dentons team was led by the firm’s Australia Region CEO and partner Steve Healy and director Rebecca Mercer, who were supported by partners Jodie Wauchope, Marcus Graham, Tim Lipscombe and Cameron Steele.
Deal significance: The firm was delighted to have been involved in a deal that will “completely transform Penrith’s CBD”, Mr Healy said.
“The deal negotiations ran over approximately 12 months and included a highly complex Project Delivery Agreement and strategic advice on various issues,” he said.
“Being able to put together a Dentons team with a breadth of expertise meant that we could advise Penrith Council on all facets of the deal. It was a privilege to assist the council on a project of this scale and vision, which will shape the city of Penrith for generations to come.”
