find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Mallesons' Perth team advises on $18.3m property deal

Mallesons' Perth team advises on $18.3m property deal

Managed fund Diversified Property Fund has sold its 50 per cent share of the Fosters Abbotsford portfolio trust in Melbourne.

CHARTER Hall Group says managed fund Diversified Property Fund (DPF) has sold its 50 per cent share of the Fosters Abbotsford portfolio trust in Melbourne for $18.3 million to joint venture partner Wyllie Group. 

Mallesons Stephen Jaques' Perth office acted for the privately owned Perth-based property and corporate investor, Wyllie Group Pty Ltd, on the purchase by Wyllie Developments of its joint venture partner's share in the trust.

The purchase was from Charter Hall's diversified property fund and involved a portfolio of seven commercial premises in Melbourne. Mallesons lead partner on the deal, Laurence (Larry) Iffla, said Charter Hall said it had done "fairly well" out of the process, even though he thought it may be a "fairly small arrangement for them". 

The Perth legal team consulted on stamp duty issues in Victoria, it being a Victorian-based matter, Iffla said. Mallesons advised on the unit sale agreement signed between the parties and ensured completion of the deal, he said. 

Iffla added that he thinks a lot of the larger funds are looking to rationalise, and are providing opportunities to people who are ready to pick up a position at what they consider to be a fair price. 

DPF and Wyllie bought the portfolio in 2007, comprising ten properties with lease terms ranging from seven to ten years.



Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Mallesons' Perth team advises on $18.3m property deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...