find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (1-3 PAE)
Category: Insurance and Superannuation Law | Location: Sydney NSW 2000
· Join a dynamic Firm · Excellent career growth opportunity
View details
In-house lawyer 1-4 PAE
Category: Generalists - In House | Location: Adelaide SA 5000
· Leading Brand · Report to a Dynamic Legal Counsel
View details
Iconic Brisbane office tower sold to offshore investors

Iconic Brisbane office tower sold to offshore investors

A prominent piece of commercial real estate, the HSBC Tower in Brisbane, has been sold for $188 million.

Firms: Lander & Rogers (ARA Asset Management Pty Ltd); Barry Nilsson (SKW Pty Ltd)

Deal: ARA Asset Management Pty Ltd (ARA) has purchased the HSBC Tower building in Queensland from SKW Pty Ltd (SKW).

Value: $188 million

Area: Real estate; corporate

Key players: The Lander & Rogers team advising ARA was led by partner John Wells. Partners Nick Stocks and Lisa Zonta, and senior associate Nuala Wiltshire from the property, projects and infrastructure team assisted on the deal.  

The Barry Nilsson team advising SKW was led by Freeda Stevenson and Lucy Forrest.

Deal significance:

Brisbane’s 25-level HSBC Tower was purchased by Singapore-listed real estate fund manager ARA Asset Management Pty Ltd. The transaction was settled with SKW in June.

The 300 Queen Street property comprises 19,364 sqm office space fully leased by international bank HSBC. The deal is believed to show a yield of about 7 per cent, according to The Australian.

According to Lander & Rogers partner John Wells, the transaction represents “continued offshore interest in Australian capital city office buildings and growing interest in the Brisbane CBD market.”

More recently, the firm acted for another ARA property acquisition, with contracts exchanged for a major shopping complex along Victoria’s Yarra River to the tune of $578 million.

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 Brisbane office tower sold to offshore investors
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
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 & ...