A consortium will pay $369m for Sydney’s first build-to-rent project in the CBD
Ashurst has helped secure the development contract for the Pitt Street Integrated Station of Sydney Metro.
The international law firm advised Sydney Metro on the contract with a consortium formed by Oxford Properties, CPB Contractors, and Grocon. The group will design and build the Pitt Street station development, paying $369m to build the city’s first build-to-rent project in the CBD.
Pitt Street station is strategically located at the junction of Sydney’s southern CBD and the Midtown retail precinct. The development – which is close to employment, residential, entertainment, cultural, and events developments – includes 39-storey commercial office building and a 39-storey residential build-to-rent building. Once finished, the two towers will feature 65,000sqm of space.
Transport and infrastructure partner Olivia Lau headed the Ashurst team. She said that the Pitt Street Integrated Station is a significant milestone for the Sydney Metro project.
Lau was supported by experts from the team’s transport and infrastructure group. They are partner Simon Irvine; senior associates Laura Hillhouse, Susannah Lace, and Andrew Higgins; counsels Sarah Southall and Melinda Harris; lawyers Codie Gippel, Rhiannon Evans, Miriam Agranat, Cameron Griffiths, Chloe Kwon, and Marya Atmeh; and graduates Veda Fitzsimons, Samichhya Khadka and Sharni Nichols.
Partners Lisa Simmons and Nick Terry and senior associate Molly Woods provided advice from the firm’s corporate transactions group. Partner Rehana Box handled insurance matters.
Partners Peter Voss, Nicole Gardner, and Adam Firth, as well as senior associate Ellena Petinos, acted on the deal from the firm’s dispute resolution group. Employment concerns were handled by partners Lea Constantine and Julia Sutherland, as well as lawyer Mary Azzi.
Partners Tony Hill and Rebecca Dixon and senior associate Montana Linkio assisted from the firm’s energy and resources team. Real estate matters were handled by partner Andrew Deane, while partner Emanuel Poulos worked from the firm’s RSSG team.
Partners Barbara Phair and Peter McCullough and senior associates Selina Ngo and Elke Bremner were also part of the team.