Arnold Bloch Leibler has acted for Australian property developer, GURNER and joint venture equity partner, Qualitas on the revamp of Melbourne’s historic Chapel Street ‘Jam Factory’ landmark.
The Gurner-Qualitas partnership will invest $75 million of equity into the redevelopment project, also acquiring part-ownership in the precinct, alongside existing owner Newmark Capital. The ‘Jam Factory’ will be jointly redeveloped by the co-owners into a $1.4 billion mixed-use precinct, including a hotel, apartments and a smaller office component. Construction is expected to start next year and be completed in 2025.
The ABL team advising the Gurner-Qualitas partnership was led by partner Philip Chester (Picture), and included senior associate Dorian Henneron, lawyer Emma MacPhee and graduate Tamsen Kempster. ABL acted on all aspects of the deal, including the negotiation and finalisation of the transaction documents and legal due diligence on the site.
Law Firms: Arnold Bloch Leibler;