Andrew Steele is the National Practice Group Leader of the Real Estate team and is recognised as one of Australia's leading property lawyers, focusing on both advice and transactional aspects of property law.
Andrew has over 20 years' experience working closely with a range of clients including government agencies, fund managers, financial institutions, restructuring and insolvency practitioners and developers.
Andrew's experience includes advising the NSW State Government on complex title matters and local governments on the acquisition and development of strategic sites. His expertise also extends to the private sector and includes advising clients on the development, acquisition and disposal of industrial, hotel, retail and other commercial properties, negotiating development agreements, joint venture documents and management agreements.
Andrew is keenly focused on providing practical commercial solutions and has a particular interest in understanding transaction objectives and collaborating on the formulation of, and executing transaction strategy.
Andrew especially enjoys his involvement in projects concerning the protection of critical State infrastructure, including rail corridor protection matters, and development projects that generate employment and transform communities.
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- Celestino: Advising Celestino on its A$5bn Sydney Science Park project that will create an internationally recognised epicentre for research and development in the heart of Western Sydney. Set over 280ha, Sydney Science Park will be a fully integrated community that will create more than 12,000 knowledge based jobs, cater to over 10,000 students and be home to over 10,000 residents. Andrew is providing complex titling advice, acquiring greenfield sites and assisting Celestino in relation to its dealings with the local authority in connection with the ownership and management of publicly accessible areas (including complex insurance and indemnity issues).
- Goodman: Andrew has acted for Goodman in connection with the development of the Oakdale Industrial Estate, a 440 hectare logistics hub, including multiple agreements for lease to the likes of DHL, Sigma Pharmaceuticals, Iron Mountain and Briggs & Stratton, and the development and divestment of sites to Toyota and Costco. Andrew's involvement included the establishment of a development joint venture between Goodman and Brickworks and complex agreements for lease, easements and option arrangements.
Acquisitions and disposals
- Goodman: Andrew acted for Goodman on the sale of the Coles chilled distribution centre at Eastern Creek for in excess of $250M. Andrew assisted Goodman in relation to this asset for many years, having acted for Goodman on the purpose built development of the site for Coles.
- AXA IM – Real Assets: Andrew acted for AXA IM Real Assets (formerly Eureka Funds Management) in relation to the sale of 55 Clarence Street, Sydney for approximately $170M. Andrew and his team expertly navigated complex risk and insurance issues arising from the property suffering substantial water damage shortly before completion of the contract for sale.
- Insolvency Practitioners: Andrew has a wealth of experience acting for IPs in relation to the management and disposal of real estate assets, including acting for the receivers and managers of ABC Learning Centres.
- CBA: For over 10 years, Andrew has advised CBA in relation to a variety of real estate matters, including lease negotiations, lease disputes, real estate due diligence in relation to lending transactions and sales (and leasebacks) of Bank freehold property. Andrew works closely with the Bank's Group Property & Security team to deliver sensible commercial outcomes, including in relation to real estate disputes.
See Real Estate
Leisure and Entertainment
- AXA IM – Real Assets: Acting for AXA IM – Real Assets in connection with its acquisition of a portfolio of Accor managed hotels in New South Wales and the Australian Capital Territory, including conducting title, lease and management agreement due diligence, negotiating transaction documents and attending to project close.
Andrew acted for AXA IM – Real Assets (formerly Eureka Funds Management) in relation to its disposal of its portfolio of InterContinental Hotel Group managed assets located throughout Australia for $500M.
- William Inglis & Son: Andrew represented William Inglis & Son in the negotiation of its hotel management agreement with Accor for The William Inglis – MGallery by Sofitel hotel, a boutique 5 star hotel which opened in 2018.
See Leisure and Entertainment
- The City of Sydney: Advising The Council for the City of Sydney on its disposal of the former Fig and Wattle Street Depot. The disposal, by means of an Expression of Interest process, will see the reactivation of this area of Sydney. The purchaser will not only be required to develop the 1.2 hectare site for mixed-uses but will also have to provide back to the City a multi-use 2-court indoor recreation centre and a 91-place child care centre.
Having advised both sectors on land activation and precinct developments allows Andrew to provide a holistic approach to any project as he understands the balance of competing Government and private interests.
- The City of Sydney: Andrew acted for The City of Sydney in relation to its acquisition of property required for the development of the planned Town Hall Square. The acquisition will allow The City of Sydney to deliver Town Hall Square which is a key component of the revitalisation of the Sydney CBD and a significant part of the City's Sustainable Sydney 2030 Plan.
- NSW Department of Industry: Andrew is acting for the NSW Department of Industry in relation to the Western NSW Radars Project Agreement with the Commonwealth of Australia represented by the Bureau of Meteorology. The project involves the installation of 3-doppler weather radars to enable enhanced decision making amongst farmers, industry, emergency services and the public, by strengthening the weather radar network in western NSW.
- Landcom: Assisting Landcom with the Glenfield – Hurlstone Agricultural High School project, recently providing input on the drafting of the project heads of agreement.
See Government Services
Healthcare and Life Sciences
- Arcadia Health Care: Andrew is acting for Arcadia Health Care in relation to the acquisition of strategic sites for development purposes.
See Healthcare and Life Sciences