Arena Law completes lifecycle with a $41m commercial building disposal

Arena Law acted on the $41m disposal of a ten-level, commercial office building located in 200 Creek Street, Brisbane. The property is located within the northern precinct of Brisbane’s CBD and is leased to a number of commercial tenants including SEQ Water, Ramsay Health Care and Rail Industry Safety Standards Board.

The sale completes the lifecycle of the property for our client and Arena Law’s involvement completing all of the asset’s property related transactions during the period of ownership.

During the lifecycle, Arena Law provided high-quality advice and support to our client in each step in the lifecycle. Arena Law’s support included:

  • negotiating, finalising and settling on a contract for the acquisition of the asset, including performing property related legal due diligence investigations on the asset and review of all leases for the building;
  • preparation, negotiation and finalisation of leasing documents, including leases, surrenders of leases, landlord’s consent to assignments of leases;
  • providing advice on, and taking action on defaults of leases, including letters of demand, issuing notices to remedy breach, and where required, terminating leases;
  • providing general advice on the day-to day operations for the asset, including advice on landlord/tenant lease obligations, body corporate advice, repair and maintenance obligations, building cladding as well as reviewing any building related documents such as utility supply agreements, building contracts and agency documents;
  • providing advice on landlord obligations for COVID-19 rent relief, including preparation of all rent relief package documentation; and
  • preparation, negotiation, finalisation and settlement of transaction documents for the disposal of the asset.

The sale was completed by Astrid Crowe and Vada Sun.

For further information on how Arena Law can help you in any stage of your asset’s lifecycle, please contact us.