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Global law firm MinterEllison has advised Adelaide Oval Stadium Management Authority on its $42 million boutique hotel.
Firm: MinterEllison (Adelaide Oval Stadium Management Authority [SMA]).
Value: $42 million.
Area: Corporate.
Key players: The Minters team was led by corporate partner Jeremy Rees.
Deal significance: The project involved complex arrangements including the overarching structuring, leasing agreements for the ongoing operation and tenure of the hotel, the construction contract with the builder, financing arrangements, the operations service services agreement covering shared services with the Oval (such as food & beverage and linen) and liquor licensing, Minters said.
Speaking about the deal, Minters partner Stephen Hill said that South Australians have a “special affinity” with the Adelaide Oval.
“It was therefore critical in the development of the Oval Hotel that a number of important considerations were addressed, including historical, environmental, economic and social,” he said.
“We are immensely proud to have been involved in such an innovative project from its inception over two years ago. In the current environment, the Oval Hotel stands as a beacon of enterprise in South Australia”.
Mr Rees added: “We are delighted to have supported the SMA in this iconic development for South Australia. This project looks towards a post-COVID future where sport, travel and tourism will return.”
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
