New agreement in Melbourne's multibillion-dollar project finalised
Baker McKenzie has advised OSK Property on its hotel management agreement with Hilton Hotels & Resorts, which will see the hotel group manage a new development within the $2.8 billion Melbourne Square project.
Firm: Baker McKenzie (OSK Property)
Deal: OSK Property has signed an agreement with Hilton Hotels & Resorts for the latter to manage a new hotel within the $2.8 billion Melbourne Square project in Southbank.
Area: Corporate, real estate
Key players: The Baker McKenzie team advising OSK Property was led by corporate real estate partners Graeme Dickson in Sydney and Dora Stilianos in Melbourne.
Deal significance: OSK Property is a Malaysian developer. Its agreement with Hilton Hotels & Resorts paves way for the management of a new hotel within the Melbourne Square Project, which will comprise around 600 rooms, world class restaurant offerings and guest amenities, according to a statement from Bakers.
Melbourne Square is one of the city's largest mixed-use developments, the firm added. In addition to a new Hilton-branded hotel, the development will include a significant residential apartment component, a commercial district, childcare facilities, and an array of other dining and retail options.
Commenting further on the deal, Bakers partner Dora Stilianos said: “It has been a great honor and pleasure to act on this project, which is possibly the largest management opportunity ever undertaken in Melbourne.”