Global law firm K&L Gates has advised Milligan Group on the sale of 32–36 York Street, Sydney, to DWS, a German investment management group.

The asset is a boutique A grade commercial office building located in the western corridor of Sydney’s central business district, near Barangaroo, Wynyard, and Town Hall stations. Originally constructed in 1886, the property has been redeveloped into a modern office asset while retaining its historic structure, blending heritage architecture with contemporary A grade office standards – an approach that has proven attractive to both investors and tenants.

K&L Gates advised on all aspects of the transaction, providing comprehensive legal support throughout the divestment process. The deal team was led by Sydney Real Estate partner Samuel Brown with support from special counsel Karen Yuan, senior associates Christina Tohme and Whitney Jiang, and lawyer Olivia Cen. Additional support was provided by Finance partner Alex Smith and Tax partner Matthew Cridland.

Brown said: “We are very pleased to have supported Milligan Group through this transaction. Having navigated the challenges presented by COVID during the development process, the near-fully occupied building represents an attractive example of adaptive reuse – successfully preserving heritage elements while meeting the expectations of today’s premium office market.”

Lawyers in K&L Gates’ large, diversified Real Estate practice advise clients on a broad range of real estate investment, land use, planning and zoning, development and construction, financing, leasing, tax, and litigation matters around the world.