Colin Biggers & Paisley has assisted property developer Poly Australia in its $270 million contract for the purchase of 59 Goulburn Street, Haymarket. The Sydney office tower was bought from Singapore-based SC Capital Partners.
Poly Australia was established in Sydney in 2015 and has since expanded across New South Wales, Victoria and Queensland.
Corporate and commercial partner Connie Chen who led the deal team said that, "The deal is significant because it forms part of Poly's plan to expand its asset management portfolio in Australia to include high quality real estate assets with strong value-add potential. In October 2019, we also assisted Poly Australia to complete its first debt fund transaction in line with its intention to move into providing property finance."
This deal follows the announcement last year that Colin Biggers & Paisley's Hotels, Tourism and Hospitality team had advised the purchaser in the $65 million acquisition of the Rydges Esplanade hotel in Cairns.
The Colin Biggers & Paisley Goulburn Street tower team was led by partner Connie Chen, and supported by the Deputy Head of the national property and development team, Duane Keighran, senior associate Morgen Kerry, corporate and commercial partner Jon Meadmore and special counsel Hamish Ratten, and banking and finance partner Kate Craig.
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