Firms: King & Wood Mallesons (Grocon); Minter Ellison (Dexus Property Group)
Deal: The sale by Grocon of 480 Queen St, Brisbane to Dexus Property Group
Area: Real estate
Value: $543 million
Key players: The KWM team was led by real estate partner Andrew Erikson (pictured) and senior associate Emily Masters, who have been involved with the project since mid-2012
Deal significance: The 31-level, premium-grade tower, to be anchored by tenants Herbert Smith Freehills and BHP Billiton, is the only current large-scale private sector office project in Brisbane’s CBD. The tower will have an above-ground public park as well as a rooftop terrace for use by tenants. It is intended to achieve a 6 Star Green Star rating.
Lead KWM partner Andrew Erikson said: “This deal is one of a series of landmark development projects Grocon has funded over [the] last three years and KWM has been Grocon’s lead advisors on each one. We are pleased to have further cemented this longstanding relationship through our involvement on this strategically significant deal.”
This is the largest property transaction in Australia so far this year.