Herbert Smith Freehills has advised Virgin Australia on the sale and lease back of the airline’s Brisbane headquarters to Charter Hall.

As part of the leaseback arrangements, Virgin Australia will continue to occupy the property in accordance with the lease terms.

The deal, that closed on 9 May 2014, was led by Herbert Smith Freehills partner Luke Simpson with assistance from senior associate Adrian Rich.

Herbert Smith Freehills partner Luke Simpson said, “We have a long-standing relationship with Virgin Australia and worked closely with the airline on the acquisition and development of its flagship headquarters in 2007. We are very pleased to assist Virgin Australia once again to negotiate the sale and lease back of the property.”

Charter Hall was advised by Clayton Utz.