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Premium Perth office building acquired
Two firms have advised on the acquisition of a 13-storey office building located in Perth’s CBD.
Emma Musgrave
Firms: Allens (investment entity); HWL Ebsworth Perth (ICWA)
Deal: An undisclosed investment entity associated with Zone Q Investments (Zone Q) acquired Westralia Plaza from the Insurance Commission of Western Australia (ICWA).
Value: $87 million
Area: M&A
Key players: The team advising the investor associated with Zone Q was led by Allens partner Victoria Holthouse (pictured), with assistance from senior real estate counsel Karyn Thomson, lawyer Alexandra Lanyon and law graduate Rachel Giudicatti.
Deal significance: Westralia Plaza is a 13-storey CBD office building located in Perth and is the second in a suite of three premium office buildings ICWA has offered to the market.
Zone Q is a Chinese real estate developer that currently has a number of inner-city residential buildings in development in Perth. The acquisition by the investor associated with Zone Q expands the company’s portfolio to include commercial property.
Allens lead partner Victoria Holthouse said the transaction builds on the firm’s presence in the Western Australian property market.
“It is exciting to see new purchasers enter the Perth commercial CBD market with a commitment to the market,” she said.
“Zone Q is very keen to build on its commercial portfolio.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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