find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
View details
Corrs advises Australand on bank leasing

Corrs advises Australand on bank leasing

Corrs Chambers Westgarth is advising Australand Property Group on a commercial leasing in Melbourne's CBD.

CORRS Chambers Westgarth is advising Australand Property Group on the commercial leasing of Australand’s office building at 357 Collins Street in Melbourne’s CBD.

Commonwealth Bank has been secured as the tenant of approximately one third of the total office area of the building, about 8,500 square metres.

The lease, which will commence October 2012, Commonwealth Bank is the first to commit to 357 Collins Street. It will occupy about one third of the office area over floors six to 10 for an initial term of 10 years, at an average net rental of $385 per square metre.

The office building, with an estimated value of $180 million, will comprise approximately 30,000 square metres of A-grade office accommodation upon completion. It adds to Australand’s already impressive investment portfolio.

The Corrs team was led by partner Nathaniel Popelianski and supported by senior associate Beth Crilly.

Nathaniel Popelianski said: “In order to assist Australand with finalising its agreement with Commonwealth Bank, the Corrs team were required to work within tight timeframes. The negotiations were complex and required a large amount of technical drafting.”

Bradley Price, Australand’s national general manager legal said: “We feel very comfortable knowing that the Corrs team is at our side to assist us with the leasing and development of 357 Collins Street. In our recent tenancy deal with Commonwealth Bank, the Corrs property team exceeded our high expectations.”

Located within the centre of Melbourne’s CBD, 357 Collins Street was acquired by Australand in March 2010 and is currently undergoing a significant redevelopment.

On completion, the building will comprise approximately 30,000 square metres of A-grade office accommodation and 1,800 square metres of retail space. It will be retained within Australand’s investment property portfolio, with the estimated value upon completion expected to be approximately $180 million.

Sean McMahon, Australand’s executive general manager of the commercial and industrial division, said the space is expected to deliver a yield on cost of approximately 9 per cent and targets a 5 star NABERS Energy rating on completion.

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

Corrs advises Australand on bank leasing
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
marriage equality
Nov 16 2017
Legislation the next hurdle for marriage equality
Lawyers have underscored the importance of ensuring same-sex marriage legislation does not limit ant...
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 & ...