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HSF and Corrs act on Telstra deal

HSF and Corrs act on Telstra deal

Telstra has extended the lease on its George Street base in Sydney's CBD for another 12 years.

Firms: Herbert Smith Freehills (Investa Property Group); Corrs Chambers Westgarth (Telstra)

Deal: The extension of the leasing of Telstra’s Sydney headquarters until 2025

Area: Property

Value: Undisclosed

Key players: The Herbert Smith Freehills team was led by partner Julie Couch (pictured), who was supported by senior associate Julie Jankowski

Deal significance: As part of the new leasing agreement, Telstra will lease 30,165 square metres in the 400 George Street tower for the next 12 years. Herbert Smith Freehills partner Julie Couch commented: “This was a highly complex leasing transaction completed within a very tight timeframe.

“It involved combining and extending Telstra’s existing leases, for its headquarters and retail space, which previously had different expiry dates and conditions, as well as entering into new leases for several further floors within the building. Investa Property Group is a long-term client of Herbert Smith Freehills and we are delighted to have supported them on this transaction.”

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