Arnold Bloch Leibler has advised Charter Hall Group on the deal.
Charter Hall (ASX:CHC) has acquired the leasehold interest in 35 hectares of master planned approved industrial land known as the Light Horse Business Hub in Eastern Creek, NSW.
This strategic parcel of land is being leased from the Western Sydney Parklands Trust (WSPT) via an open market tender process, with the transaction approved and executed by the NSW Minister for Planning and Public Spaces on the 19th of May, 2021.
CPIF has entered into a five-year Development Management Agreement with the Western Sydney Parklands Trust (WSPT) to develop the master-planned approved Light Horse Business Hub. Upon completion of each new facility, CPIF will enter a 90-year Ground Lease providing an annual annuity to the trust that will contribute to the cost of operating, maintaining and enhancing the Western Sydney Parklands for the benefit and enjoyment of the community in Western Sydney. Works are planned to commence on site later this year.
Charter Hall is an integrated property company. The principal activities of the Company includes the investment in property funds and property funds management. The Company deploys, manages and invests equity across core real estate sectors including in office, retail, industrial and social infrastructure.
The ABL team was led by property and development partner Tyrone McCarthy (Picture), supported by senior associate Brianna Youngson.
Law Firms: Arnold Bloch Leibler;
Clients: Charter Hall;