Corrs Chambers Westgarth has acted for a major Australia bank to lock in a milestone tenancy deal in Melbourne’s Docklands.
Corrs was key legal adviser to National Australian Bank (NAB) during the procurement of NAB’s new purpose built office at 700 Bourke Street, Docklands.
NAB will lease 63,000 sq metres of commercial office space to accommodate around 6,000 employees, making the deal the largest commercial office transaction in Melbourne in recent years.
Corrs’ partner Nathaniel Popelianski led the deal and said the Corrs’ team was thrilled to confirm such a valuable real estate outcome. The team has been involved in the high profile project from its inception.
“This deal has major strategic importance for NAB, a leading Australian financial institution and a valued client of Corrs, and is a deal we are proud to be associated with,” Nathaniel Popelianski said.
“We have worked to continually add value to this important office project, with a significant outcome that is further testament to the strength of Corrs’ real estate experience and offering.”
NAB will commence moving employees into 700 Bourke St next month. The tenancy marks the bank’s shift to a more collaborative workplace and also complements existing NAB offices located at 800 and 500 Bourke Street.
NAB head of commercial property, Monica Klyscz, said Corrs had played a big part in the project’s success.
“Lead by Nathaniel Popelianski, the Corrs’ team was able to add considerable value on legal strategy including during the bid process and negotiations. Corrs’ ongoing support has helped secure a successful outcome for all stakeholders,” Monica Klyscz said.
“NAB is very excited about this new space, which is focused on bringing people together to better share and expand knowledge and information.”
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