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
Corporate Lawyer
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· 12 months fixed term opportunity
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Freehills lands year's biggest property deal

Freehills lands year's biggest property deal

In what is the largest property sale in Australia this year, Freehills has acted for Malaysian sovereign wealth fund Permodalan Nasional Berhad (PNB) on its $287 million purchase of Brisbane's…

In what is the largest property sale in Australia this year, Freehills has acted for Malaysian sovereign wealth fund Permodalan Nasional Berhad (PNB) on its $287 million purchase of Brisbane's Santos Place.

Completion of the acquisition was effected on 13 August 2010 and is PNB's first international property acquisition and its first acquisition in Australia.

"This sale will give a significant boost to the Brisbane office market while at the same time introducing a major new international player to the Australian property market," said Freehills partner Michael Back.

PNB defeated numerous competitors to purchase the 36 storey, 35,000 square metre building which opened in August 2009.

The building is over 95 per cent let and has several major tenants, including Santos and Aurecon.

PNB was incorporated in 1978 as part of the government's economic policy to promote share ownership in the corporate sector on behalf of Malaysia's indigenous Bumiputra people, and is now a $54 billion investment group.

Freehills advised PNB on all aspects of the transaction, including due diligence, negotiations with the vendor and the vendor's agent, and all relevant government agencies, including FIRB.

The Freehills team was led by partner Michael Back and senior associate Julie Jankowski.

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

Freehills lands year's biggest property deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
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 The way we do business, where we work, how we engage with workers, even how we take a...
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 & ...