The firm’s work for the Shanghai-listed developer continues at it builds four projects with more than 1,200 residential units
Herbert Smith Freehills (HSF) is acting for a property developer on a portfolio in Sydney that will eventually be valued at over $1.5bn.
The global firm is acting for Poly Real Estate Australia, the Australian subsidiary of Shanghai Stock Exchange-listed developer Poly Real Estate Group, on its Sydney portfolio.
In late October, the company launched Tilia by Poly in Lindfield, the first of the developments. HSF acted on the acquisition of the historic Bankstown RSL Club on Kitchener Parade, Bankstown, the second development site that will be launched next year. This project will have 500 apartments, as well as retail and commercial spaces.
Next year, the third development site at 14-24 Stanley St, Kogarah will also be launched. It is expected to have about 100 residential units. The fourth project is planned to have more than 500 apartments.
The HSF team working with Poly Real Estate is led by consultant John Wei and partner Nicholas Cowie. They are supported by senior associate Japonica Sheridan, lawyer Maxwell Wu, and licensed conveyancers Lyn McSweeney and Amy Zhong.
“Herbert Smith Freehills is continuing to work with a range of Chinese real estate clients as they expand their investments in the Australian real estate market,” Wei said. “This portfolio of four projects being undertaken by Poly further demonstrates that Australia remains one of the favourite destinations for Chinese outbound investment due to a transparent and independent legal system, a relatively stable political structure and a world-class lifestyle.”
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