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St Kilda Road establishment sold for $163m

St Kilda Road establishment sold for $163m

St Kilda Rd

KHQ Lawyers has advised the Beville Group on the $163 million sale of a landmark office building located on Melbourne’s St Kilda Road.

Firm: KHQ lawyers (Beville Group); Thomson Geer (Mr Da Xie)

Deal: Beville Group has been advised on the sale of its office building at 509 St Kilda Road to Chinese mainland investor Mr Da Xie.

Value: $163 million

Area: M&A

Key players: The KHQ team was led by director David Krolikowski, who was assisted by special counsel Jennifer Huppert.

Thomson Geer partner Eu Ming Lim advised the purchaser, Mr Da Xie.

Deal significance: Beville Group is a Sydney based property developer. The sale of its office building on St Kilda Road represents one of the largest office sales to occur outside Melbourne’s CBD, according to a statement from KHQ Lawyers.

The building is located on a large footprint of St Kilda Road, backing onto Fawkner Park. The office has 360 degree views, including over nearby Albert Park Lake, and comprises over 19,500 square metres of net lettable area and 325 car bays, the firm added.

“Use of a sophisticated online data room streamlined the due diligence process for all parties, as did Beville Group’s Rael Hurwitz’s organisation and clarity of instructions," said KHQ special counsel Jennifer Huppert.

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