Partner Director, Dan McLennan, originated the development opportunity, negotiating land acquisition and development terms for the air rights above Telstra’s exchange, whilst also concurrently securing Aesop’s anchor tenancy precommitment. Partner was subsequently engaged by Grocon to provide development and transaction management in connection with the forward sale of the 15,000 sqm development to Melbourne based firm Impact Investment Group.
Partner successfully closed the transaction in line with our clients’ financial and risk objectives. In particular, substantial advance profit payment was achieved together with favourable terms for investor cash flow and design controls. Importantly, Partner managed the due diligence process on behalf of Grocon together with leading negotiations of the legal documentation inclusive of tripartite arrangements with Telstra and Aesop.