A prime office asset in Sydney is sold for $76m, while Mitsui offloads its Bald Hills wind project
Herbert Smith Freehills confirmed its roles advising on the sale of a prime office building in Sydney and the acquisition of a large wind energy project in South Gippsland, Victoria.
HSF advised funds managed by the Brompton Asset Management Group in London on the $76m sale of the building in Sydney’s St Leonards, a deal which closed last month. The property, located at 72 Christie St. and currently leased to WPP AUNZ, was sold to Proprium Capital Partners (Australia).
The HSF team was comprised of partner David Sinn and solicitors Hannah Stevens and Joanne Wang. King & Wood Mallesons represented Proprium.
HSF also advised Infrastructure Capital Group (ICG) and the Energy Infrastructure Trust (EIT) on their acquisition of the Bald Hills Wind Farm.
The 52-turbine wind farm in South Gippsland, Victoria, which has an aggregate installed capacity of 106.6MW, was offloaded by Mitsui & Co (Australia). With the addition of the wind farm, ICG’s renewable energy generation capacity is boosted to 455MW.
Corrs Chambers Westgarth advised Mitsui with a team led by partner Robert Clarke. He was assisted by senior associate Judith Tosh and lawyers Simone Lim and Sally Milner.
The transaction, which was completed on 28 February, includes EIT assuming existing project financing. Financial details of the deal were not disclosed. All existing contracts at the wind farm, including an offtake agreement with Alinta that runs to 2030, are unaffected.
HSF partners David Ryan and Gerard Pike, senior associate Jennifer Harding, and solicitors Mary Griffiths and Kai Ito worked on the deal.
