You have 0 free articles left this month.
Register for a free account to access unlimited free content.

Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo

Powered by MOMENTUM MEDIA

Advertisement
Goodbye job applications, hello dream career
Seize control of your career and design the future you deserve with LW career

Two firms act on deal by the water

K&L Gates and Corrs Chambers Westgarth have helped bring about the sale of Darling Harbour’s Harbourside Shopping Centre.

user icon Digital 12 November 2013 Big Law
Two firms act on deal by the water
expand image

Firms: K&L Gates (the vendors); Corrs Chambers Westgarth (Mirvac)

Deal: Sale of the Harbourside Shopping Centre to Mirvac

Area: M&A

Value: $252million

Key players: K&L Gates acted for the vendors, while Corrs Chambers Westgarth acted for Mirvac. The K&L Gates team was led by partners Rowan McDonald and Jodie Masson

Deal significance: The Stonebridge Capital Group brokered the sale on behalf of the shopping centre’s private owner, the developer John Beville. The well-known shopping centre at Sydney’s Darling Harbour was opened in 1988 and still has 75 years left on its 99-year lease from the Sydney Harbour Foreshore Authority.

“This is an exceedingly rare transaction for a prized Sydney location,” said McDonald (pictured). “The sale itself was complex due to it being executed as a share-and-unit sale rather than a property asset sale. The centre attracts over 14 million people a year and therefore it is unsurprising to have achieved a great result for our client.”

We're evolving — and so should your insights. Heads up — Lawyers Weekly is going premium from 1 May for just $5 a month. Stay informed without missing a beat. More information coming soon.

You need to be a member to post comments. Become a member for free today!