Midland Megaplex Purchase
Lawfield acts for buyer in acquisition of $58 million property.
Lawfield represents syndicate of investors in major property acquisition.
Lawfield has successfully completed the purchase of the Midland Megaplex retail site, on the eastern outskirts of Perth Western Australia, for $58m AUD acting for the buyer The Lester Group for a syndicate of investors (www.lestergroup.com.au).
This bulky goods shopping precinct with 13 tenants is the fourth major acquisition and brings to nearly $100m the total investments handled by Lawfield for Lester Group syndicates in WA in the last 2 years.
The Lester Group said “Congratulations and thanks for your professional and timely attention. We appreciate your support for what was a long and drawn-out negotiation, due diligence, documentation, and finally settlement. Amongst this we were all thrown the Coronavirus curveball, but together we got the deal across the line.”