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Austral Bricks advised on $41m property transaction
Massons has advised Austral Bricks on a property deal worth $41 million.
Emma Musgrave
Firm: Massons (Austral Bricks)
Value: $41 million
Area: Property
Key players: The Massons property team advising Austral Bricks was led by partner Jodie Masson and senior associate Ben Malone who were supported by lawyer Jack Vidler.
Deal significance: Austral Bricks, described as a “major player in the Australian brick industry since 1908, has committed to a partial leaseback of 2.168 hectares for a 10-year term with options”.
According to a statement from Massons, the property at 62 Belmore Road was sold to a private South Sydney buyer.
The firm explained that the property comprises approximately nine hectares and is split across two titles.
“This was a fantastic outcome for our client, Austral Bricks, and followed a highly competitive Expressions of Interest campaign for the property," Massons partner Jodie Masson said.
“The deal was structured by way of a put and call option, with a series of leasebacks of various parts of the property. It is a key operational site for Austral and there were a lot of moving parts that had to be carefully considered up-front and throughout the process to ensure a seamless transaction.
“We are thrilled with the result for Austral Bricks,” she concluded.
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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