LAWFUEL – Law News Network – Blake Dawson Waldron (BDW) is advising Asia Pacific Hotels Pty Ltd on its sale of the Ramada Melbourne Hotel. The Ramada Melbourne Hotel, a four star hotel located in Melbourne’s CBD, is being acquired by Property Funds Australia Limited.
The sale of the 182 room Ramada Hotel is being carried out by BDW’s Hotels, Tourism and Gaming group led by John Stawyskyj. “This transaction involved some added complexities that required a high level of co-operation and team work”, said John Stawyskyj.
Adding complexity to the transaction is the need for the parties to sign additional documentation to enable:
(a) the purchaser, a listed property trust, to put into place a hotel lease over the hotel the day before completion for GST going concern requirements and for stamp duty and tax structuring purposes; and
(b) the partial surrender of the hotel lease on completion together with the grant of a 200 year residential lease of the penthouse premises in favour of an associate of Asia Pacific Hotels.
In addition to John Stawyskyj, the BDW team acting for Asia Pacific Hotels comprised of Karen Donner and Lindy Randall as well as by Stephen Woodbury on employment matters.
Property Funds Australia Limited is represented by Caroline Ho of Baker & McKenzie.