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New development to begin on Manly beachfront
Charity Royal Far West has been advised on the financing of its new redevelopment in Manly, which will be a landmark mixed-use development.
Lauren Croft
Firm: Ernst & Young (Royal Far West)
Value: N/A
Area: Finance
Key players: The EY capital debt advisory team was led by partner Jason Lowe and associate director Sean Chua, whilst the EY law team was led by partner Sheranga Fernando.
Deal significance: The financing has reached financial close for the first stage of funding in respect of a $150 million facility with ANZ. The funding will facilitate a landmark mixed-use development on one of Australia’s most popular beaches whilst supporting RFW’s charitable mission of helping country children through futureproofing the sustainability of Royal Far West and creating valuable amenity for the local community.
This is a significant project in the Australian real estate finance market, and EY said they were “delighted to assist Royal Far West with our innovative integrated advisory and legal approach”.
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
