In 2012, Charter Keck Cramer negotiated a development agreement on behalf of Freemasons Victoria for their landmark Dallas Brooks Hall site in East Melbourne. Charter tailored a bespoke deal between the Freemasons and development company Mirvac.
The development partnership was negotiated to reinvent an asset that was no longer meeting the needs of the Freemasons.
Through an intricate process, Charter assisted Freemasons Victoria select an appropriate partner to add value to the asset and de-risk the redevelopment project. The deal structure negotiated by Charter was designed to allow Freemasons to capture market uplift realised over the 3.5 years since the deal was struck.
Charter’s management of the process, understanding of the site potential and feasibility, and clarity about how the development could evolve gave the insight required to capture the long term growth opportunity at 300 Albert Street, East Melbourne.
Mirvac launched the East Melbourne redevelopment, ‘Eastbourne’, in Autumn 2016 comprising luxury apartments, and it will also house the new headquarters for Freemasons Victoria.
Architecture partners Bates Smart is working with Mirvac to bring the project to life.
Mirvac has reported brokering $200 million in sales at The Eastbourne development during a pre-launch weekend.