MinterEllison Advised Brookfield Office Properties in Sale of Iconic Sydney King Street Wharf Property for A$525 Million
June, 2016 - Melbourne, Australia
In the largest single office property deal in the Sydney market in the past two years, Brookfield Office Properties has sold Macquarie Group Building 1 in the King Street Wharf precinct for A$525 million to Charter Hall.
The purchase is a joint venture between Charter Hall Core Plus Office and Morgan Stanley Real Estate Investing's pan-Asian fund.
MinterEllison advised Brookfield Office Properties in the sale, marking the culmination of our firm's involvement in the life cycle of this iconic building.
Special counsel Kiri Purdy, who led our team supported by partner Virginia Briggs and lawyer Loren Blumgart, said the sale of the Macquarie Bank building has been an exciting transaction to be part of. "It also marks a milestone for MinterEllison – we acted on the initial acquisition, construction and leasing of the site. Our continued involvement with the site is a testament to our strong relationship with long-standing client Brookfield."
The One Shelley Street property is an A Grade commercial office building consisting of nine levels of office accommodation plus rooftop terrace, ground floor with retail, commercial lobby and office space at level 1, and basement parking.
