MinterEllison advises Dexus on $1.5 billion acquisition of 80 Collins precinct in Melbourne

1 min  13.05.2019

MinterEllison advises Dexus on the A$1.476 billion acquisition of the 80 Collins precinct.

The 80 Collins precinct, which is located in the Eastern Core of Melbourne’s CBD, covers 105,000 square metres of NLA comprising an existing 47 Level A-grade office tower (formerly known as Nauru House), a new 35 level premium office tower, new retail podium and a new 255-room boutique hotel. New components of the 80 Collins precinct are currently being developed.

Dexus will acquire a 75% ownership interest in the 80 Collins precinct, with Dexus Wholesale Property Fund holding the remaining 25% interest.

The MinterEllison team advised on the acquisition of the 80 Collins precinct and helped guide Dexus on all aspects of the existing tower and the new development, including completion of a due diligence process.

"It has been a privilege to work on such a complex deal to help our client secure this landmark property," said Wissam Abwi. "We were able to deliver a successful outcome for all parties by navigating various legal and commercial risks across corporate, construction, property and finance matters."

Dexus is one of Australia’s leading real estate groups, managing an Australian property portfolio valued at $28.9 billion.

The firm-wide team was led by Nicole Green (Partner, Sydney), Wissam Abwi (Partner, Sydney) and Elizabeth McKechnie (Partner, Sydney). They were supported by Anthony Poynton (Partner, Melbourne), Keith Rovers (Partner, Sydney) and special counsel, senior associates, associates, lawyers and graduates across the Sydney and Melbourne offices.

Read Next

COVID-19: How can organisations respond, manage and mitigate the risks to business and the economy?

Our insights can help you navigate the uncertainty.