Case Study – MetroPlex Westgate
Metroplex Westgate is neither traditional nor conventional in its offering. Rather, it is the culmination of years of research, planning, and design to create a ‘destination business centre’. Upon completion, this $1.5 billion,63ha Project will consist of four distinct precincts comprising of over 300,000sqm of industrial, commercial, retail floorspace, and community facilities interconnected by 17ha of green space and nature corridors.
Our ongoing role required us to reach an agreement on a complex joint venture structure and negotiate financing and debt funding facilities with the joint venture’s financiers. Andrew, Sarah and their team masterfully navigated the planning and development requirements to provided strategic advice for the titling and structuring arrangements for the master planned community.
More specifically, AJ & Co’s role included:
- the delivery of all legal services for the acquisition of the site;
- structuring finance and a part sale of the development to the GPT Ground Pty Ltd;
- titling, planning, and development advice, including negotiations with various councils;
- drafting infrastructure agreements and civil works contracts for the Boundary Road Bridge and extension;
- preparation of master off-the-plan contracts of sale;
- ongoing development leasing work for the entire development; and
- ongoing sales, long-term lease, and fund through deals that have been negotiated between the joint venture and several large national, international, and industrial users.
WHY THE CLIENT CHOSE AJ & CO
The Metroplex project is a cutting edge, large-scale industrial and commercial development being developed under the BCCM Act with specific management controls in place. This meant that the titling of the development needed careful consideration, thus requiring specific legal expertise.
AJ & Co was also engaged to ensure the many interfaces between the multiple users on this master planned project were properly managed. This included producing documentation to be readily accepted by lessees and purchasers alike.
AJ & Co was also engaged to ensure the many interfaces between the multiple users on this master planned project
were properly managed. This included producing documentation to be readily accepted by lessees and purchasers alike.
AJ & Co also demonstrated:
- an understanding of the financial requirements for the project and the commercial drivers for both the private enterprise joint venture partner and the publicly listed development entity;
- a deep understanding of master planned titling arrangements in Queensland;
- issues concerning the future body corporate and future industrial and retail bodies corporate;
- an ability to work closely with the boards of both companies;
- experience distilling titling issues and processes; and
- the ability to navigate complicated titling issues and processes imposed by local authorities.
‘Working with Andrew Johnson and his team has been a great success thanks to the attention to detail, availability of personnel and a thorough understanding of the development. AJ & Co understood our development outcomes and our financial goals, helping to shorten legal processes. It was their willingness to listen to the developer’s bottom line that has been a welcome addition.’