find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Freehills acts on largest property sale of the year

Freehills acts on largest property sale of the year

Freehills has acted for Malaysia's biggest fund management company on its $287 million purchase of Brisbane's Santos Place._x000D_

FREEHILLS has acted for Malaysia’s biggest fund management company on its $287 million purchase of Brisbane’s Santos Place.

The deal involves the largest single property sale in Australia this year.

Malaysian sovereign wealth fund Permodalan Nasional Berhad (PNB) made its first international property acquisition and its first acquisition in Australia with the purchase of Brisbane's Santos.

Freehills partner Michael Back said the sale would boost the Brisbane office market, as well as introduce a new international player to the Australian property market.

PNB toppled bids from a number of competitors to purchase the 36 storey, 35,000 square metre building which opened in August 2009.

The building is over 95 per cent fully let and has several major tenants including Santos and Aurecon, who both lease several floors in the building as well as a number of barrister's chambers.

PNB was incorporated in 1978 as part of the government's economic policy to promote share ownership in the corporate sector on behalf of Malaysia's indigenous (Bumiputra) people, and is now a $54 billion investment group.

Freehills advised PNB on all aspects of the transaction including due diligence, negotiations with the vendor and the vendor's agent and all relevant government agencies including FIRB.

The Freehills team was led by partner Michael Back and senior associate Julie Jankowski.

Darren Anderson from Broadley Rees Hogan acted for the vendor.

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

Freehills acts on largest property sale of the year
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
Lawyers warn against mandatory sentencing measures amid political jeers
Mandatory sentencing has become a topic for politicians on both sides of Federal Parliament to jostl...
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'...
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...
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 & ...