MinterEllison has advised Growthpoint on its agreement to divest its leasehold interest of 20 Colquhoun Road, Perth Airport in Western Australia to Hesperia for $267.7 million. 

Growthpoint has exchanged the contract for the divestment, with completion of the transaction expected in early 2027. MinterEllison advised on all real estate aspects of the transaction, including hosting and managing the data room, undertaking vendor due diligence and drafting and negotiating the contract of sale and ancillary documents.

The property, which formed part of Growthpoint's initial seed portfolio in 2009, has undergone significant expansion and improvement throughout a period of over 15 years. The divestment reflects strong capital growth achieved through sustained, active management of the asset and positions Growthpoint to capitalise on new investment opportunities.

The MinterEllison team was led by Carla Deluca (Partner), with support from Georgia Rowell (Senior Associate), Rachel Mackenzie (Senior Associate), Joshua Chan (Senior Associate), Mandy Meyerson (Lawyer) and Max Tran (Lawyer). Support was also provided by Cassandra Thwaites (Consultant) and Josiane Lengyel (Consultant) from the Discovery & Data Intelligence team. 

For guidance on your next property transaction, contact our Real Estate team.