Frasers Hospitality Trust Purchases Novotel on Collins from LaSalle Asia Opportunity Fund
Baker & McKenzie advised Singaporean listed Frasers Hospitality Trust (Frasers) on the purchase of the Novotel on Collins from LaSalle Asia Opportunity Fund (LaSalle).
The Novotel on Collins is a 4 star, 380 room hotel located in the heart of Melbourne's CBD.
Baker & McKenzie lead partner on the transaction, Graeme Dickson stated: "The hotel is part of a major complex with a significant retail component (which our client did not purchase) which raised important strata title issues and complex cost allocation issues which were resolved."
Graeme added that "It was a pleasure to assist Frasers in relation to this complex transaction undertaken under strict time lines in order to comply with the requirements of the Singapore Stock Exchange with respect to the fundraising that the client was undertaking to finance the acquisition".
Graeme was assisted by a team of lawyers comprising: Kerrie Duong, Michael Diston, Kellie-Ann McDade and Sam Appleton.