A common feature of many of Australia’s most successful businesses leaders and entrepreneurs is that they built their fortunes through property. Another is that they were advised by Arnold Bloch Leibler’s renowned Property & Development practice.
Our team is unique in the marketplace in terms of the collective experience and depth of partners, who have represented clients across numerous landmark property and development projects around Australia for over 50 years.
Like our clients, we approach property and development projects from the ground up. We work with them to develop and implement strategies for buying, selling, financing, developing and re-packaging property in a manner that minimises exposure and maximises returns.
Our Property & Development practice is a ‘one-stop-shop’, covering all aspects of property acquisition, financing, planning and environmental issues, development, construction, sales and leasing. Our clients turn to us for this consolidated approach, which is critical for managing time frames and containing costs.
“Arnold Bloch Leibler has the capacity to think outside the square to recognise and seize opportunities.”
Property & Development services
Property acquisitions and sales
We advise on all legal aspects of the acquisition and sale processes, including due diligence, taxation and stamp duty planning and Foreign Investment Review Board requirements. With considerable knowledge of the property investment market, our lawyers can advise on the establishment of sophisticated property holding structures, such as syndicates, joint ventures and listed funds.
Construction and development
We advise on the negotiation, drafting, management and enforcement of building and development agreements. Our objective is to provide clients with the legal foundation necessary to assist clients minimise risks and maximise returns from a construction and development project. Our experience in construction litigation also assists clients to manage and resolve potential disputes as economically and favourably as possible. Our construction experience spans residential (including landmark city towers and broad acre developments), mixed use, commercial, industrial and retail developments.
We represent both lenders and borrowers in a wide range of property related finance transactions. Because we work on both sides of the finance equation, we understand the requirements of both parties. As a result, we are able to negotiate advantageous financial arrangements for our clients.
Planning and environment
We advise on each stage of the planning and development process from due diligence through to completion. Planning and environmental issues are identified and dealt with upfront, rather than being treated as an afterthought, ensuring the smooth delivery and success of development projects. This proactive approach delivers real value to developers, as issues can be dealt with up front – avoiding back end delays and unnecessary litigation, which can run up significant holding costs. This is critical for complex and significant projects.
Property acquisitions and sales
Acted for a number of Australia’s commercial property developers and institutional investors on a broad spectrum of property matters, including:
- Charter Hall Group and Abacus Property Group: on their respective acquisitions of a one-third interest in the Myer Melbourne building for a combined $270 million
- Medical Properties Trust: in relation to the acquisition of $1.25 billion of hospitals from Australian private hospital operator Healthscope
- IP Generation: on a $300 million portfolio of Sydney and regional NSW neighbourhood shopping centres
- Charter Hall Group:
- on the purchase of a $353 million portfolio of six Bunnings stores around Australia
- on a leasehold interest in 35 hectares of master planned approved industrial land known as Light Horse Business Hub in Eastern Creek, NSW
- on the acquisition, development and leasing of industrial properties in Victoria, New South Wales, Queensland, Western Australia and Tasmania by the Core Logistics Partnership Trust
- on the $830 million acquisition of Telstra’s office headquarters in Melbourne and the $1.43 billion acquisition of a 49% interest in Telstra exchange properties
- on an $840 million agreement with BP for a stake in 225 convenience and fuel outlets
- on its acquisition - via a Charter Hall managed fund, with Charter Hall and GIC, Singapore’s sovereign wealth fund as investors - of a 49 per cent stake in the Ampol Property Trust
- MAB Corporation: on the acquisition of 32-hectares of land near Cranbourne, Victoria for $37.5 million
- AsheMorgan: on its A$210 million purchase of a prominent Brisbane office tower, featuring global insurer, Allianz, and the Queensland government as anchor tenants
- DeGroup: on the acquisition of the Caroline Springs shopping centre from Lendlease for approximately $140 million
- Essendon Airport: on the development and leasing of Bombardier’s Australian corporate jet MRO base at Essendon Airport, Victoria
- LK Property Group: on the acquisition and development of various residential buildings including Capitol Grand in South Yarra, Victoria
- CGA Spencer: on the $200 million sale of Flinders Bank build to rent and residential development site to Mirvac
- Haben Property Fund on the purchase of two shopping centre assets – The Pines shopping centre and Caloundra shopping centre for a combined $250 million+
- Metro Property: on the acquisition of the prominent ‘Bingara Gorge’ site from Lendlease, one of Australia’s largest residential subdivisions
- Walker Corporation: on the $56 million acquisition of Abacus-controlled entity, Goods Shed North, Docklands
- OSK Group: on the $70 million sale of Melbourne Square retail precinct, and
- A private family group: on the sale of a new Australia Post HQ site to Charter Hall Group.
Construction and development
Acted for major Australian and international property developers and institutional investors on a range of landmark property development and construction matters, including:
- Riverlee: on the development of one of Australia’s biggest residential projects – Lovely Banks – a proposed suburb covering about 1,500 hectares in Northern Geelong
- Capital Alliance: on a development agreement with Development Victoria for a $1.5 billion redevelopment of Central Dandenong
- Hamton and Hostplus: on the construction and broader structure agreements for the $2 billion redevelopment of the Moonee Valley Racecourse
- Steadfast Capital: on the $170 million redevelopment of ‘The Walk Arcade’ in Melbourne’s CBD
- World Class Land: on the $900 million development of ‘Australia 108’ at 70 Southbank Boulevard, Southbank
- S P Setia Bhd: on the construction contracts for the $600 million development of ‘Sapphire by the Gardens’ at 308 Exhibition Street, Melbourne
- Beulah International: on a range of construction agreements across their portfolio, including ‘Southbank by Beulah’, ‘Paragon’, ‘Provenance’ and ‘Grounds of Kew’
- Time & Place: on a range of industrial estates including ‘Cooper T&P, ‘Leakes T&P’, ‘The Junction’ and ‘Williams Point Business Park’, and
- Golden Age Group: on the construction agreements for ‘Sky Village’.
- Gurner and Qualitas: on a luxury $1 billion built-to-rent development fund
- MAKE Ventures: on a joint venture with AustralianSuper in relation to future build-to-rent-to-own residential developments
- Merricks Capital, as agent, mandated lead arranger and a lender: on a $150 million syndicated term loan facility to Alfasi Property Development to fund the development of a new ten-level retail and office building in Cremorne, Victoria, and
- VIMG and its joint venture partner, New Hope: on its refinance for a residential construction facility provided by PAG Assets Limited, including cross-collateral springing security arrangements of other sites owned by VIMG.