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
Cross-border real estate transaction settled

Cross-border real estate transaction settled

Kerry Heilbronn, Herbert Smith Freehills

A global firm’s Brisbane-based property team has advised QIC on the sale of its interest in a UK shopping centre.

Firms: Herbert Smith Freehills and Hogan Lovells (QIC International Property Fund); Macfarlanes (intu Properties)

Deal: QIC sold its 50 per cent interest in intu Merry Hill Shopping Centre to intu Properties.

Value: $795 million

Area: M&A

Key players: Herbert Smith Freehills’ Brisbane property team worked on the transaction in both Australia and the UK. They were led by partner Kerry Heilbronn (pictured), who was supported by consultant David Stitt and senior associate Alanna Bolger.

Deal significance: The QIC International Property Fund and its direct and indirect subsidiaries (QIC) sold its 50 per cent interest in UK shopping centre intu Merry Hill to intu Properties for $795 million.

Located near Birmingham in the West Midlands, intu Merry Hill Shopping Centre spans 229 acres and approximately 1.3 million square feet of retail space.

The transaction involved the sale of QIC’s units in seven Jersey unit trusts, the shares in the UK incorporated general partners of seven limited partnerships and 100 per cent of the shares in a separate UK parking structure.

Inter-company debt was also discharged as part of the transaction, which settled on 22 June.

“This was a complex transaction involving negotiations across four jurisdictions – England, Ireland, Jersey and Australia,” Mr Heilbronn said.

“We successfully co-ordinated all aspects of the disposal including vendor due diligence and operation of the online data room, negotiation of the transaction documents and co-ordination of other advisers and officers.”

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

Cross-border real estate transaction settled
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
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'...
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...
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 & ...