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Urbex Pty Ltd has sold a 20.5 hectare, 400 lot residential development site - once owned by photography company Kodak - to Nigel Satterley in a cash deal reported to be worth almost $80…
Urbex Pty Ltd has sold a 20.5 hectare, 400 lot residential development site - once owned by photography company Kodak - to Nigel Satterley in a cash deal reported to be worth almost $80 million.
Key lawyers in the deal were Maddocks property partner Nick Holuigue, assisted by property associate James Beauchamp, and construction & major projects partner Simone Holding.
Senior associate Bettina Sheeran of Gadens acted for the purchaser, Nigel Satterley, the country's biggest private property developer.
Contracts of sale were exchanged on 17 September 2010 and the transaction settled last week (6 October).
The site is largely vacant and construction is expected to start in the first half of 2011, assuming approvals are in place.
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