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Circular Quay tower sold

Circular Quay tower sold

Andrew Flannery

Two firms have advised on the acquisition of the former Coca-Cola Amatil headquarters in Sydney.

Firms: DibbsBarker (Landream and Macrolink Real Estate); Clayton Utz (AMP Capital)

Deal: Landream and Macolink Real Estate teamed up to acquire 71 Macquarie Street from AMP Capital.

Value: $158.5 million

Area: Real estate

Key players: The team from DibbsBarker included property and project partner Andrew Flannery (pictured), associate Alexandra Henderson and conveyancer Liliane Daher, who were assisted by members of the commercial team and planning and environment teams.

On the Clayton Utz side, partner Julie Levis and senior associate Carrie Rogers worked on the transaction.

Deal significance: Landream is an Australia-based developer with a history of residential and mixed-use projects in Melbourne and Sydney.

Macrolink Real Estate is part of the Beijing-based Macrolink Group, a corporate body with interests in real estate, petroleum, mining, chemical engineering and finance.

In partnership, the two entities have purchased the building at 71 Macquarie Street, Sydney, which was formerly the headquarters of Coca-Cola Amatil.

The office tower is earmarked for development into a 20-storey luxury apartment tower as part of a larger revamp of the Circular Quay area.

Partner Andrew Flannery praised Landream’s vision for the site.

"Landream is a company with clear vision and a strong track record for providing high-quality residential products," he said.

"It is great to see them team up with Macrolink, a major international developer, to jointly deliver Sydney’s most exciting new residential tower."




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

Circular Quay tower sold
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