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ISPT advised on Karingal Hub revamp
Allens has advised property fund managers, ISPT, on the redevelopment of Karingal Hub Shopping Centre in Frankston, Victoria.
Emma Musgrave
Firm: Allens (ISPT)
Value: Undisclosed
Area: Projects
Key players: The Allens legal team advising ISPT was led by partners David McLeish and David Donnelly, and senior associate Ben van Weel, with support from associate Olivia Roslaniec, and lawyers Eugene Twomey, Tom Lawson and Kalia Laycock-Walsh.
Deal significance: Karingal Hub is situated on the Frankston-Cranbourne Road and connected to the Mornington Peninsula Freeway. Tenants include Village Cinemas, Big W, Woolworths, Coles, Aldi and 150 specialty retailers.
The redevelopment includes refurbishing the existing centre, expanding the gross lettable area by around 12,000 square metres and constructing a new entertainment precinct with functional outdoor spaces, dining areas and a multi-level car park, according to a statement from Allens.
“The redevelopment of Karingal Hub is set to revitalise the shopping precinct by enhancing the connection between the existing centre and the Star Zone Karingal,” said Mr McLeish.
“Once complete, Karingal Hub will be a centerpiece of the Frankston and Mornington Peninsula region and provide substantial benefit for the local community.”
“This transaction caps off a busy year for the projects & development team who [has] provided integrated advice on the development, construction, leasing and financing of a series of development projects,” added Mr Donnelly.
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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