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Race to develop Melbourne land

Race to develop Melbourne land

Norton Rose Australia and Arnold Bloch Leibler have advised on the development of Melbourne Racing Club’s privately-owned land surrounding the Caulfield Racecourse.

Firms:  Norton Rose Australia (Melbourne Racing Club), Arnold Bloch Leibler (the winning consortium)

Deal: Development of Melbourne Racing Club’s privately-owned land surrounding the Caulfield Racecourse

Area: Real estate

Value: Confidential

Key players: NRA partner Arthur Chong (pictured) led the real estate team with senior associates Guy Albeck and Rebecca Hall, with assistance from tax partner Andrew Spalding and corporate partner Greg Hipwell

Deal significance: The development will create a new urban village, seven kilometres from the Melbourne CBD adjacent to a major university, and will create a thriving, integrated, mixed-use community with access to major transport routes, shopping and recreation designed to integrate with the character and facilities of the surrounding areas. The winning consortium, which includes Beck Property Group and Probuild Constructions, was announced by Melbourne Racing Club on 17 August.

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