News and events
We recently advised The Myer Family Company on the sale of its one third interest in the nine storey Myer building in Bourke St, Melbourne to global investment manager TH Real Estate. The deal value was $151.3M. The remaining two thirds of the flagship Myer store are owned by retail asset manager, Vicinity Centres, and the Singapore Government's sovereign wealth fund, GIC. The building was built in 1914 and comprises approximately 40,000 square metres.
The move to a services economy in Australia is creating new risks for Australian businesses which, in turn, are creating opportunities for the insurance sector. Speaking at Lander & Rogers' client Economic Briefing in Melbourne, Chris Colahan, Chief Executive Officer of Berkshire Hathaway Specialty Insurance, Australasia, cited cyber risk as a topical example.