COOPER Grace Ward has acted in the acquisition of two major retail centres in Queensland.
The first transaction of $18.6 million involved a private investor acquiring a shopping complex at Mountain Creek on the Sunshine Coast.The firm also acted for a leading Australian retailer in the $15 million acquisition of a retail centre in Brisbane.
Partner Neil Hawthorne was the lead advisor on the transactions and was supported by solicitor Kara Pennisi. Both are members of CGW’s property, planning and environment team.Hawthorne said each transaction had its own level of complexity and time pressure.
“The shopping centre at Mountain Creek, which includes a Woolworths supermarket, service station and 14 specialty tenancies, involved some highly complex planning issues and we were able to resolve these before settlement,” Hawthorne said.
“The success of the second acquisition came down to the timing," he said.
“We negotiated and settled the deal within seven days to ensure the most advantageous outcome for the parties involved.”