News | Gadens relocates to new home at Collins Arch
22 June 2020
Gadens has today moved into its new Melbourne home at Cbus Property’s $1.25 billion Collins Arch precinct in the Melbourne CBD. Not only is Collins Street Melbourne’s premier business address, but Collins Arch is now one of Melbourne’s landmark sites.
“We first announced our intention to move to Collins Arch in late 2016, and over the last three-and-a-half years the excitement within the firm has been growing every day,” says Mark Pistilli, Gadens Chief Executive Officer. “Developed by Cbus Property, a key client of our firm, Collins Arch is an iconic Melbourne development and we’re delighted to be the first law firm moving into the building.”
The move will see over 250 people from Gadens move in to occupy two-and-a-half floors of Collins Arch. The relocation of the Melbourne office to this landmark building will provide Gadens with a solid foundation to grow its service offering to clients and provide staff with a modern working environment.
Gadens’ association with Collins Arch extends beyond being a tenant. The firm has been involved in many aspects of this premier development, even before it broke ground. Andrew Kennedy, Gadens National Head of Property, Construction & Planning explains:
“This is a project that Gadens has had a very close involvement in, so it’s great to finally be able to call Collins Arch home. This has been a significant and complex project, and is one of Australia’s largest mixed-use developments with a combination of office and retail space, a five-star hotel and luxury residential apartments across the two towers.
“Gadens acted on the initial acquisition of the site and our Corporate Team was also involved in the structuring of the acquisition as well as the subsequent sale of 50% to ISPT. Our Property, Construction & Planning Group advised Cbus Property in relation to many aspects of the construction and we are currently undertaking leasing work in relation to the completed development project. Our Banking & Finance Group worked on all financing matters related to the transaction which included both the syndicated construction financing and the long term post-construction financing. This has really been a fantastic whole-of-firm effort,” concludes Andrew.
Doug Scobie, Gadens National Head of Corporate and Institutional Banking & Finance, adds: “The financing and security arrangements were particularly complex for a number of reasons including the size and multi-faceted nature of the development, the number of counterparties involved in the project including Multiplex (as builder), key tenants (including a number of leading law firms) and Daisho as purchaser of the hotel. There were also several clean energy-related terms and provisions negotiated as part of the post-construction financing with the Clean Energy Finance Corporation.”
“Collins Arch was designed to be a signifier of leading design and instantly recognisable as a statement of Melbourne’s premier status globally,” said Cbus Property‘s Chief Executive Officer, Adrian Pozzo. “We are pleased to welcome Gadens to Collins Street’s new pinnacle address and, as a law firm committed to positioning itself as a best practice organisation and employer of choice, we are confident Collins Arch will offer the best place to grow and demonstrate these commitments”.
“We have aimed to deliver a modern and carefully considered physical collaboration space for our clients and our people, and I am delighted with what has been delivered”, says CEO Mark Pistilli. “Gadens continues to evolve in today’s quickly changing landscape to enable us to meet the needs of our clients, providing innovative solutions and an outstanding experience. Our new office space, coupled with our technology-based service delivery and products, allows us to meet our client’s needs in a market-leading and efficient way. With a flexible fit-out designed with collaboration at its heart, our new premises will contribute to ensuring that our clients continue to be supported in the way that Gadens is known and respected for.”