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Firms advise on Bulgari store sale
Two firms have advised on the acquisition of Bulgari's Sydney flagship store by Allegra for $28.7 million.
Lara Bullock
Firms: Herbert Smith Freehills (Allegra Europea Holdings); Swaab Attorneys (Asia Pacific Property Fund)
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Deal: Allegra Europea Holdings acquired Bulgari’s flagship Sydney store and associated offices from Asia Pacific Property Fund
Value: $28.7 million
Area: M&A
Key players: The Herbert Smith Freehills team was led by partner Julie Jankowski (pictured), who was supported by solicitor Rebecca Elgar, consultant James Graham and senior associate Yorick Ng.
The Swaab Attorneys team included managing partner Mary Digiglio.
Deal significance: Bulgari is an Italian jewellery and luxury goods brand.
Spanish property company Allegra Europea Holdings acquired the store, which is located at 64-68 Castlereagh Street, Sydney from the vendor, Asia Pacific Property Fund.
Over the past eight years, Allegra has generated an attractive international real estate portfolio of both direct property investments and development projects, according to a statement from Herbert Smith Freehills.
This is Allegra’s first acquisition in Australia, although the company already has investments in London, New York, Miami, Berlin, Sao Paulo, Chicago, Toronto and Madrid.
HSF lead partner Julie Jankowski said, “It was a pleasure to assist Allegra with its first acquisition in the Australian market. This transaction highlights the ongoing international appetite for quality, high-end Sydney CBD assets in the current market.”
