Arnold Bloch Leibler has advised long-standing client Spotlight on the acquisition of a prime commercial property in Toorak.
The property is located in Toorak Village, one of Melbourne’s most tightly held commercial precincts. The transaction represents a significant commercial real estate acquisition in the Victorian market.
The transaction was led by Property & Development partner Gia Cari, with support from lawyers Daniel Hicks and Gabriel Bar-Ness.
Gia commented: “We are delighted to have supported Spotlight on this notable acquisition in one of Melbourne’s most prestigious commercial property markets. The exceptional quality of the retail and office tenants distinguishes this asset as a premium-grade property.”
Spotlight has also sold a development site at Chapel Street, South Yarra, paving the way for the purchaser to deliver a transformative mixed-use residential development. Spotlight’s acquisition of the Toorak asset reflects increasing confidence in the strength of Victoria’s commercial real estate landscape.