As reported in The Australian, the deal represents one of the largest CBD retail transactions in Australia during 2021 and the largest retail transaction in Melbourne’s CBD in over 13 years.
Tyrone McCarthy said: “We are delighted to have advised Charter Hall and Abacus in securing ownership interests in one of Melbourne CBD’s most landmark buildings.”
The deal represents one of the largest CBD retail transactions in Australia during 2021 and the largest retail transaction in Melbourne’s CBD in over 13 years.
In commenting on the transaction, Abacus managing director Steven Sewell has stated: “This transaction aligns with our strategic priority of acquiring commercial assets in select locations where we see amenity and infrastructure improvements that we believe will ultimately translate to strong tenant demand.”
Avi Anger, commenting on behalf of Charter Hall, has observed: “The Myer Bourke Street Mall property in Melbourne, which together with CLW’s existing investment in the David Jones Castlereagh Street store in Sydney, represent two of Australia’s most iconic CBD buildings”.
Following settlement of this transaction Charter Hall and Abacus will be co-owners alongside existing manager and one-third co-owner Vicinity Centres.
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