find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Iconic building sale eclipses all single-office deals since 2014

Iconic building sale eclipses all single-office deals since 2014

The multi-million-dollar sale of an iconic waterfront building on Sydney's King Street Wharf is the city's biggest single-office property deal since 2014.

Firms: MinterEllison (Brookfield Office Properties); Allens (Charter Hall)

Deal: Brookfield has sold the King Street Wharf waterfront property of 1 Shelley Street in Sydney to Charter Hall.

Value: $525 million

Area: Commercial property

Key players: MinterEllison special counsel Kiri Purdy (pictured) led the team advising Brookfield in the property sale, with real estate partner Virginia Briggs and lawyer Loren Blumgart assisting.

Deal significance: Brookfield has sold the King Street Wharf precinct that houses the Macquarie Group headquarters for $525 million, making it Sydney’s largest single office property deal in the past two years.

The property is an A-grade commercial office building with nine levels of office accommodation plus rooftop terrace, ground floor with retail, commercial lobby and basement parking. Macquarie’s current contract lease of 100 per cent of the 1 Shelley Street precinct runs to 2024.

The purchase was a joint venture between Charter Hall Core Plus Office and the pan-Asian fund of Morgan Stanley Real Estate Investing.

MinterEllison is a longstanding legal adviser for Brookfield, describing its involvement in the latest transaction as "a culmination of the firm’s involvement in the lifecycle [of the] iconic building".

Senior counsel Kiri Purdy, who led the team advising Brookfield, said the sale was "an exciting transaction to be a part of".

"We acted on the initial acquisition, construction and leasing of the site. Our continued involvement with the site is a testament to our strong relationship with long-standing client Brookfield," Ms Purdy said.


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Iconic building sale eclipses all single-office deals since 2014
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, ALA, right-to-die law
Oct 24 2017
‘Right-to-die’ laws would be a relief for terminally ill: ALA
The passage of an assisted dying bill through the lower house of Victorian Parliament has been haile...
Diversity
Oct 24 2017
Diversity top of agenda for future WA Law Society president
The advancement of diversity in the Western Australian legal profession will be one of the key items...
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...