King & Wood Mallesons has advised Grocon on the A$543m development and forward-funded sale to DEXUS Property Group of 480 Queen Street, Brisbane, completing the largest property transaction in Australia this year.
The law firm took the lead role on the deal, preparing and negotiating the land acquisitions and development documentation, project managing the transaction as it approached financial close, and co-ordinating other advisers and lawyers.
The King & Wood Mallesons team was led by real-estate partner Andrew Erikson and senior associate Emily Masters, who have been involved with the project since mid-2012.
The 31-level premium-grade tower – to be anchored by tenants Herbert Smith Freehills and BHP Billiton is the only current large-scale private-sector office project in Brisbane’s CBD. The tower will have an above-ground public park as well as a rooftop terrace for use by tenants. It is intended to achieve a six-star green star rating.