Login
King & Wood Mallesons advises on Mirvac divestment
King & Wood Mallesons has advised Mirvac Group on the divestment of 50 per cent of its interest in the Old Treasury Building development in Perth for $165m.
The New Lawyer
King & Wood Mallesons has advised Mirvac Group on the divestment of 50 per cent of its interest in the Old Treasury Building development in Perth to Singapore listed K-REIT for $165 million.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Mallesons partner partners Felicity Savage and Sonya Harris lead the deal.
The deal marks the second co-investment between the two leading real estate entities.
Under the agreement, K-REIT will acquire a 50 per cent interest in the Mirvac (Old Treasury) Trust and the associated trustee, Mirvac (old Treasury), which has entered into a development agreement with the State of Western Australia to deliver a new A grade office tower which will be built on the Old Treasury Building site in the CBD of Perth.
The project is scheduled for completion in 2015.
The 30,800 square-metre building is 98 per cent pre-committed by a 25-year lease to the WA state government.
