Herbert Smith Freehills has advised Leighton Properties and Devine Limited on the sale of their jointly-owned KSD1 and Central Retail Buildings in Brisbane to 360 Capital Office Fund for A$62m.

The buildings offer a combined 9,300sqm net lettable area within the Hamilton Harbour development- in Brisbane’s inner north. Hamilton Harbour is a joint venture, 50%-owned by Leighton Properties and 50% owned by Devine Limited. The buildings’ tenants include Woolworths, Flight Centre, The Coffee Club and the corporate headquarters of both Domino's Pizza and Devine.

The sale, that closed on 29 April 2014, was led by Herbert Smith Freehills partner Luke Simpson, with support from senior associates Adrian Rich and Sarah Merrett, and solicitor Lisa Di Marco.

Luke Simpson said, “We were very pleased to assist Leighton Properties and Devine Limited with this important transaction, which has provided them with an attractive return on investment along with the ability to repay all remaining debt on the Hamilton Harbour joint venture.”

Lander and Rogers Lawyers advised 360 Capital Office Fund on this transaction.