In July 2021, Arena Law advised its client on the acquisition of an A-Grade commercial office building known as ‘Scarborough House’ located in Philip, ACT in a deal worth $83 million.

Located in a major government and health precinct, the 14-level building is predominantly leased to the Department of Health and has been the control centre for the nation’s COVID-19 response.

The acquisition of Scarborough House saw the client expand its portfolio into the ACT and bolster its holdings of national office assets, comprising of government, commercial and non-profit tenants.

Led by Sandra Hollingsworth and supported by Lisa Briese and Rebecca Pratt, the team was involved in the negotiation of a Heads of Agreement, Call Option Deed and Contract between parties, coordinating and providing advice in relation to in-depth due diligence enquiries, and preparations for settlement of the contract.

In the midst of both complex negotiations and COVID-19 related lockdowns, clear communication was the key to successful completion of this transaction.

Preparing for and managing the numerous parties involved in a property settlement can be challenging in normal circumstances, let alone during a lockdown and working from home. Despite this, Arena Law did not bat an eyelid at the challenge of coordinating parties and completing a successful settlement, despite stakeholders in the transaction all being in lockdown across the Brisbane, Sydney and ACT.

Arena Law is pleased to continue their involvement with the property beyond settlement. The team has a long-standing relationship with the client, and has not only assisted the majority of property acquisitions and disposals in the client’s office portfolio, but continues to provide ongoing property and leasing advice in relation to the portfolio comprising of 12 assets across Australia.

For practical, commercial advice on your next commercial property acquisition, contact Arena Law on (07) 3999 7102.