Advising the TE Asset Managers (as part of the Tong Eng Group of companies) in relation to the establishment of trust structures for the joint acquisition of 350 Queen Street, Melbourne, Australia, for A$145,000,000

Advising the TE Asset Managers (as part of the Tong Eng Group of companies) in relation to the establishment of trust structures for the joint acquisition of 350 Queen Street, Melbourne, Australia, for A$145,000,000
08 Jul 2020

Advising the TE Asset Managers (as part of the Tong Eng Group of companies), as fund managers to the Singapore family collective investment scheme vehicle and the Singapore master trust structure for the purposes of investing jointly with SGX listed Roxy-Pacific Holdings Limited (“Acquirers”), through various Australian sub-trusts, into a commercial property on 350 Queen Street, Melbourne, Australia (“Property”) for a total consideration of A$145,000,000. The set up was structured to be tax efficient by satisfying various criteria to enjoy tax exemptions under Singapore law.

The Property has a freehold tenure and is situated in the Central Business District of Melbourne, Australia. It comprises a commercial tower with offices, retail offerings and community amenities.

Partner Claudia Teo, Senior Associate Valerie Boh and Tan Tien Wei, Associate Terence Teoh, and Trainee Gabriel Lim are advising on the transaction.

For more information, please contact our Business Development Manager, Ricky Soetikno at rickysoetikno@harryelias.com

 

Contact: 

Claudia Teo

Partner
Head, Corporate and Financial Services
T: 
+65 6361 9392
F: 
+65 6438 1788
E: 
ClaudiaTeo@harryelias.com
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