Allens Arthur Robinson

• Introduction
• Media releases
  • Archive
• Photos
• Fact sheet
• Videos
• Audio archives
• Print advertising

Allens acts for DEXUS in part-sale of 6-star, Green Star development

12 February 2009

Allens Arthur Robinson (Allens) acted for DEXUS Property Group (DEXUS), one of Australia's largest diversified property groups, in a comprehensive deal that saw the sale of a one-third interest in its new premier office tower development in Sydney.

Allens advised DEXUS on the complete transaction including the development, construction, anchor tenant leasing and disposal of its part interest to Cbus Property, a subsidiary of Cbus, the national construction and building industry superannuation fund.

The deal establishes a partnership between existing owners DEXUS and DEXUS Wholesale Property Fund (DWPF) and now Cbus Property in the proposed development, designed to achieve a 6-star, Green Star office tower at 1 Bligh Street, Sydney.

Partner Mark Stubbings led the Allens team on this matter, working closely with a range of Allens' practice groups, including corporate, real estate, construction and tax.

According to Mr Stubbings: 'We are delighted to be able to assist long-standing client DEXUS in this important transaction which marks the culmination of three years work on this project.

'Pulling together a team of dedicated, multi-skilled lawyers, we were able to provide real estate development, construction and tax expertise to achieve a successful outcome for DEXUS - along with the other parties to the complex matrix of transactions, under significant time pressures.

'At a time of uncertain transactional activity in the commercial real estate market, it is crucial that clients can access highly skilled legal teams who are coordinated and able to provide a broad spectrum of necessary legal advice and expertise,' added Mr Stubbings.

The Bligh Street development, being developed by DEXUS, DWPF and Cbus Property, is scheduled for completion in mid 2011. Designed to achieve a 6-star Green Star rating, the transparent, elliptical-shaped premium grade tower will be Australia's first double-skin faÇade high-rise office building.

Ends

For further information, please contact:

• Jane FoleyCorporate Communications Coordinator, Melbourne
  Ph: +61 3 9613 8503
  Jane.Foley@aar.com.au

Return to top

---

Tweet or bookmark with What are these?

Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.