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Wynyard Place Project approved

Wynyard Place Project approved

Felicity Savage, King & Wood Mallesons

A global firm has advised Brookfield Property Partners on its $1.3 billion landmark Wynyard Place Project.

Firms: King & Wood Mallesons (Brookfield Property Partners)

Deal: Brookfield Property Partners has gained approval to deliver the Wynyard Place Project.

Value: $1.3 billion

Area: Projects

Key players: The King & Wood Mallesons team was led by partner Felicity Savage (pictured) with assistance from partner Debra Townsend, special counsel Leah Ranie and Simonne Einfeld, and senior associates Emma Dewar and Steve Swan.

Deal significance: The Wynyard Place Project is set to deliver a dynamic new gateway to Sydney’s CBD and will include 74,000 square metres of premium commercial, retail and restaurant space.

Brookfield made a successful unsolicited proposal for a mixed-use development involving a 27-storey state-of-the-art office tower. The development includes a world-class commercial and retail centre and restoration of the Shell House and 285 George Street.

Wynyard Place has been designed to integrate with Sydney’s $2.2 billion light rail project with the transit hall linking with the City of Sydney’s pedestrian walkway and light rail project on George Street.

"There were many moving parts to consider and bring together to enable this project to proceed," KWM lead partner Felicity Savage said.

"From a legal perspective, an underlying objective was to give Brookfield the right risk profile as well as deliver an ownership structure, which will allow Brookfield future flexibility in relation to the ownership of this landmark asset."

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