The landmark project will be integral to Melbourne tourism, the lead partner says
Ashurst has confirmed its role in The Docklands Residences project in Melbourne.
The global firm advised Capital Alliance, the developer of the $250m project. Located in the mixed-use waterfront Docklands precinct, the project is the first purpose-built Marriott hotel development in Australia in 20 years, Ashurst said.
Ashurst’s work included advising on the property aspects of the deal, which included novel aspects such as covenants protecting against hire of the residences through online shared-accommodation services. The team that handled property aspects of the deal was led by projects and real estate partner Jason Cornwall-Jones.
Ashurst also advised on banking aspects of the deal, with a team headed by banking partner Kenneth Nguyen. Cornwall-Jones and Nguyen were supported by senior associates Gaby Stach and Laura di Roberto, as well as lawyer Tom Allen, Ashurst said.
Nguyen said described The Docklands Residences as a “landmark project” that “will be integral to Melbourne tourism.”
Herbert Smith Freehills earlier confirmed its involvement in The Docklands Residences. It advised the financier of the project with a team headed by finance partner Lucy McCullagh and real estate partner Jane Hodder.
In the residential projects space in Melbourne, Ashurst recently confirmed that it had continued its work with the University of Melbourne by advising on another student accommodation concession granted to AMP Capital.