As reported in the Australian Financial Review, the deal includes masterplan approval for a $300 million logistics estate which can accommodate large-scale warehouse and distribution facilities of up to 100,000 square metres. Charter Hall’s unlisted $7 billion industrial fund, CPIF, struck the five-year development management agreement with Western Sydney Parklands Trust (WSPT) to develop the Light Horse Hub.
Property and development partner Tyrone McCarthy led the team from Arnold Bloch Leibler acting on the deal and was supported by senior associate Brianna Youngson.
Tyrone congratulated Charter Hall on the transaction: “We are pleased to have assisted Charter Hall with another milestone transaction. The estate has exciting prospects and we look forward to being involved with its development.”
In Charter Hall’s announcement, Managing Director and Group CEO, David Harrison, said “We are delighted to secure the leasehold interest in this strategic parcel of land from WSPT. This builds on our strong relationship with WSPT and is the third transaction we have undertaken with them, following the Horsley Drive Business Park and Bringelly Road Business Hub development projects which have secured long term lease commitments from major tenant customers such as Coles and Bunnings.”
ABL was also involved in the earlier transactions with WSPT.
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.
