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ABL acts for Metro in Sydney land deal

Property & Development
Building site with flag
Arnold Bloch Leibler has acted for Australian property developer, Metro Property, in the acquisition of the prominent ‘Bingara Gorge’ site from Lendlease, one of Australia’s largest residential subdivisions. The sale agreement for the 900 lot site in Sydney’s southwest is due to be completed mid 2021.

The ABL team advising on the transaction was led by property and development partner, Tyrone McCarthy, and commercial partner, Paul Rubenstein, with assistance from newly appointed senior associate, Rob Deev. The team advised on all aspects of the deal, including the negotiation and finalisation of the transaction documents and legal due diligence on the site.

Tyrone McCarthy commented: “We are pleased to have assisted Metro with this significant acquisition and look forward to working with the team on future transactions and land developments”.   

As reported in the Australian Financial Review, Metro Managing Director Luke Hartman acknowledged the market opportunity, particularly for projects with planning approval: “We think the market is strong with the low interest rate environment [and] we’re going to continue to take advantage of those conditions. We keep selling out projects so we’re restocking to take advantage of the market”.

To read the Australian Financial Review article, click here.

About Arnold Bloch Leibler

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.

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