Arnold Bloch Leibler has advised property developer, Gurner™, on the acquisition of a premium site in Sydney's Kent Street from Barana Group.
The Kent Street purchase is one of the biggest purchases in Sydney this year, and plans are in place to replace the aging office tower with an $800 million 34-storey two-tower development. As reported in The Australian, this acquisition is the first seed site to be backed by Gurner's $2 billion build-to-sell development fund.
Property & Development partner Dorian Henneron and lawyers, Tamsen Kempster and Jordan Brewer, advised on the acquisition, with support from Banking & Finance partner Damien Cuddihy and lawyer Xavier Nicolo.
Dorian commented on the transaction, saying: "Congratulations to the Gurner team on yet another exciting milestone. We look forward to seeing how this latest development shapes the market."
Tim Gurner also commented in the press: “Kent Street represents one of the most prestigious development sites in Sydney; from the moment we were introduced to the site we knew we had to acquire it and do something very special in a market that is crying out for ultra-luxury stock."