Herbert Smith Freehills has advised Propertylink on the purchase of an industrial warehouse property in Western Sydney for A$46.6million.

Located at 205-231 Fairfield Road, Yennora, the headline tenant is online fashion retailer, The Iconic. There are also three other tenants and the property will be added to an existing Propertylink industrial property fund.

Herbert Smith Freehills also advised Propertylink in relation to its Foreign Investment Review Board (FIRB) application and the debt financing required to complete the purchase.

The firm’s team was led by partners Michael Back, Phillip McMahon and executive counsel Leone Costigan. They were supported by partner Philip Podzebenko and solicitors Danica Corbett and Robbie Ahchee.

Michael Back said:  “We were delighted to advise Propertylink on this acquisition and help them secure another strong asset to the property fund. The purchase comes as we are seeing continued demand for high quality industrial properties, particularly in areas of low supply such as Sydney.”

The vendor was advised by Grogan & Webb and the incoming financier was advised by King & Wood Mallesons.