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$220m shopping centre deal finalised
Two firms have advised on the acquisition of a 28,700-square-metre retail complex in Victoria by a global property investor.
Emma Musgrave
Firms: Herbert Smith Freehills (M&G Real Estate Asia Pte Ltd); Watts Legal Consultants (Scentre)
Value: $220 million
Area: M&A
Key players: The legal team advising M&G Real Estate Asia was led by Herbert Smith Freehills partner David Sinn (pictured), with assistance from senior associate Emily Peverill, solicitor Stephanie McSwiney and graduate Amari Romero.
The legal team advising Scentre was led by Watts Legal Consultants owner Tom Watts.
Deal significance: The Casey Central Shopping Centre is a 28,700-square-metre retail complex located in Narre Warren, approximately 50 kilometres from Melbourne’s CBD.
The complex boasts more than 80 retail stores, including Coles, Woolworths, ALDI and Target.
Herbert Smith Freehills partner David Sinn said the sale was part of a trend that has seen sub-regional shopping centres increasingly being considered good investments.
“We were delighted to advise M&G on the transaction, which was one of the most significant sub-regional shopping centre sales for 2016,” Mr Sinn said.
“The past 12 months have seen investors take a renewed interest in shopping centres located in growing outer suburbs where population growth is fuelling demand for convenient, one-stop retail centres. These centres are often a reliable investment with the potential for sustained growth in the future.”
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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