Whittens & McKeough congratulate Top Spring International Holdings Ltd, a property development company listed on the Stock Exchange of Hong Kong (3688:HKG), on its acquisition of a 49% interest in 20 residential properties located in St Leonards, a suburb in Sydney’s lower north shore. The properties are currently valued at $151.6 million and cover an area in excess of 12,500 sq.m.
The St Leonards properties are planned for development into a high quality residential complex. Having previously focused on developments in the People’s Republic of China, Hong Kong and the United Kingdom, the St Leonards development represents Top Spring’s first foray into the Australian property development market.
Whittens McKeough & Sundaraj Pty Ltd has acted as Australian legal adviser for Top Spring and was named as the Company’s Australian legal adviser in the circular it issued to shareholders to satisfy the listing rules of the Stock Exchange of Hong Kong for a “Disclosable and Connected Transaction in relation to the Acquisition”.
Whittens’ team of lawyers have extensive experience in assisting foreign companies seeking to invest in Australia.