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Oh what a land deal, Clayton Utz
Clayton Utz represented Toyota Motor Corporation Australia on the sale of industrial land in Victoria, which will now be developed into a new industrial estate to be known as Toyota Business…
Lawyers Weekly
Clayton Utz represented Toyota Motor Corporation Australia on the sale of industrial land in Victoria, which will now be developed into a new industrial estate to be known as Toyota Business Park.
Property partner John McGuire led the Clatyon Utz team assisted by Linda Moore. The sale process lasted almost a year from the call for expressions of interest to completion, and culminated in the settlements of four separate parcels of land between 15 March and 14 April this year.
McGuire said the call for expressions of interest created a large response, as “the industrial market in Melbourne doesn’t often throw up such large parcels of land in such close proximity to the city”. However, the consortium’s proposal met Toyota’s requirements for future use of the land, and once it was decided on, the companies launched into negotiations on the contracts for the four parcels.
“Dealing with the public expressions of interest campaign followed by parallel negotiations with the consortium of three sophisticated buyers of four separate parcels of land made the transaction fairly complicated but everyone was pleased with the outcome,” McGuire said.
