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Two firms construct property deal

Two firms construct property deal

Thomsons Lawyers and King & Wood Mallesons have acted on a $160 million Brisbane property deal.

Firms: Thomsons Lawyers (FKP Property Group); King & Wood Mallesons (purchaser)

Deal: FKP sells Gasometer 2 development

Area: Real estate

Value: $160 million (estimated ‘on completion’ value)

Key players: Thomsons' team included partners Chris O'Shea (pictured), Andrew Kelly and Phil Byrnes, with assistance from special counsel Daniel Beikoff and associate Chris Humby. King & Wood Mallesons’ team was led by partner Sonya Harris

Deal significance: The Gasometer 2 development was purchased by a joint-venture trust ultimately owned by Canadian Public Sector Pension Investment Board (PSP Investments) and Charter Hall's Core Plus Office Fund.

Located in the $1.1billion master-planned Gasworks community at Newstead, Brisbane, this 15-storey building will comprise approximately 24,800sqm of PCA A-grade office space, plus 1056sqm of retail space.

The property is currently under development and is scheduled for completion in late 2014.

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