Herbert Smith Freehills has advised Spanish property company Allegra Europea Holdings on the acquisition of BVLGARI’s flagship Sydney store and associated offices for A$28.7 million.
ver the past eight years Allegra has generated an attractive international real estate portfolio of both direct property investments and development projects. Allegra has a presence in all real estate sectors throughout the world and also carries out philanthropic activity through the Mario Losantos del Campo Foundation.
Some of Allegra’s most notable investments are located in London, New York, Miami, Berlin, Sao Paulo, Chicago, Toronto, Madrid, and this acquisition is Allegra’s first acquisition in Australia.
The Herbert Smith Freehills team was led by partner Julie Jankowski, who was supported by solicitor Rebecca Elgar, consultant James Graham and senior associate Yorick Ng.
“It was a pleasure to assist Allegra with its first acquisition in the Australian market,” Julie Jankowski said.
“This transaction highlights the ongoing international appetite for quality, high-end Sydney CBD assets in the current market.”
The flagship store and associated offices are located at 64-68 Castlereagh Street, Sydney.
Manuel Pavia of Blueprint Property also assisted Allegra with the real estate aspects of the transaction. The vendor, Asia Pacific Property Fund, was assisted by Mary Digiglio of Swaab Attorneys.