MinterEllison has advised Richmond Bridge, and capital partners UniSuper and ISPT on a significant off-market transaction, Burra Park, a 280-hectare greenfield logistics development site, in a 50/50 joint venture and managed by Richmond Bridge.
Richmond Bridge as investment manager for UniSuper and ISPT will develop Burra Park delivering prime manufacturing, warehouse and logistics estate over the next seven years with an expected value on-completion of over $3.9bn.
The property, situated immediately adjacent to the entrance of the new Western Sydney International Airport (WSI), stands as the largest parcel of Enterprise Zoned land within the Western Sydney Aerotropolis, offering unparalleled development flexibility and poised to capitalise on the region's demographic and economic expansion, solidifying its position as a premier logistics and industrial hub. Currently under construction, WSI is scheduled to commence operations in 2026, with the aim to become Sydney's largest airport.
MinterEllison Partner and Real Estate Industry Leader Carla Deluca led the expert Property, Tax, Construction, Banking, Environment and Planning and Commercial Regulatory team. Carla was supported by Partners Adrian Varrasso, Nathan Deveson, Rhys Guild, Daniel Marks, Catherine Macrae, and Senior Associates Drew Woods, Wendy Lim and Melinda Waduge who advised on all aspects of the transaction - due diligence, land acquisition and tax structuring.
Carla Deluca commented on the transaction: "MinterEllison has advised Richmond Bridge, UniSuper, and ISPT on this landmark acquisition of Burra Park, a substantial investment in Australia's logistics infrastructure. This was a fantastic result for our client and reinforces the strategic growth opportunities available for our clients in the current logistics and industrial real estate market."
MinterEllison is a longstanding adviser to Richmond Bridge and UniSuper, having acted on numerous deals together including, UniSuper's $1.1 billion industrial property acquisition from National Pension Service of Korea and UniSuper's $105million industrial development site in Yarraville, Melbourne.
