King & Wood Mallesons (KWM) has advised Charter Hall's Prime Office Fund and Direct Office Fund on the transaction for consideration of a planned A-grade office tower in Parramatta for $229 million.

Located at 105 Phillip Street, the 25,000sqm commercial property has been purchased from Dexus Property Group, which is responsible for delivering the development and acting as property manager for five years after its completion in mid-2018. The property was sold with a pre-committed 12-year lease with Property NSW.

The KWM team was led by Partner Stuart Dixon-Smith and Senior Associate Jessica Wallis and supported by Solicitors Imogen Fahey and Elaine Asimakopoulos.

Stuart Dixon-Smith said we are proud to have supported Charter Hall as it creates another landmark office tower in growing Parramatta CBD.