Deal profile | Gadens advises Cbus Property on strategic acquisition of Halo Tower in Sydney CBD

Gadens has advised Cbus Property on its acquisition of a 50% interest in the landmark ‘Halo’ tower site in Sydney’s CBD.

Cbus Property has partnered with Milligan Group to jointly deliver the renowned corner site at 15 – 25 Hunter Street and 105 – 107 Pitt Street, which has been envisioned as a world-leading 55-storey timber hybrid skyscraper. The acquisition by Cbus Property marks a significant step in the evolution of the precinct, which has attracted considerable market interest over the past year.

The Gadens team advising Cbus Property was led by Real Estate and Construction partners Andrew Kennedy and Daniel Middleton, alongside Corporate partner Clare Miller, Banking partner Doug Scobie and Real Estate and Construction senior associate Rachel Yard. The team provided advice on all aspects of the transaction, including structuring, contract negotiation, co-ownership documentation negotiation, construction contract documentation and strategic stakeholder engagement.

Commenting on the transaction, Andrew Kennedy said:

“We are proud to support Cbus Property in securing a strategic interest in one of Sydney’s most exciting development opportunities. With limited new office supply and growing demand for premium, sustainable workplaces, the ‘Halo’ site presents a rare opportunity to meet that need. Its location makes it one of the most development ready and connected parcels in the city’s commercial core. We look forward to seeing the vision for this precinct come to life through this partnership.”