Mirvac Group’s Agreement For Lease To Secure Suncorp As Major Tenant

Herbert Smith Freehills’ real estate team has advised Mirvac in relation to an agreement for lease to secure one of Australia’s leading financial services groups, Suncorp, as the major tenant for its proposed office development at 80 Ann Street in Brisbane, Queensland.

Suncorp has pre-committed to over 39,600 square metres of office and retail space, representing approximately 66 per cent of the building’s total net lettable area, for a 10-year term.

The real estate team also assisted Mirvac with its fund through arrangements with the M&G Asia Property Fund who will hold a 50 per cent interest in 80 Ann Street.

Mirvac is a real estate group, listed on the Australian Stock Exchange with activities across the property investment and development spectrum, as well as retail services.

The Herbert Smith Freehills team was led by partner, Julie Couch (Picture) who was supported by partner Christopher Blue and senior associates Rebecca Elgar and Danica Corbett.

The Herbert Smith Freehills team worked closely with Mirvac’s senior legal counsel, Hugh O’Brien and Suncorp’s legal advisers, MinterEllison to negotiate and agree the arrangements.

Involved fees earner: Christopher Blue – Herbert Smith Freehills; Danica Corbett – Herbert Smith Freehills; Julie Couch – Herbert Smith Freehills; Rebecca Elgar – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: Mirvac Group;

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Author: Michael Patrini