Corrs advises on major acquisition

Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Stockland Supalai Residential Communities Partnership (SSRCP), a capital partnership between Stockland (ASX:SGP) and Supalai Australia Holdings Pty Ltd (SAH), on its A$1.06 billion acquisition of 12 masterplanned communities from Lendlease (ASX:LLC).

Stockland is one of the largest diversified property groups in Australia, offering over 70 years of experience in creating connected communities. SAH is a subsidiary of Supalai Public Company Limited (SET:SPALI), a leading real estate development company listed on the Thai Stock Exchange, and has a strong track record of investing in residential developments across Australia. The acquisition by SSRCP of 12 actively trading masterplanned communities from Lendlease completed in November 2024 and comprised approximately 27,600 lots to build homes as well as schools, hospitals and shopping centres, achieving immediate scale for SSRCP.

Corrs advised SSRCP on all aspects of the acquisition, including the debt financing, drawing on the expertise of the corporate, real estate, banking and finance, environment and planning, tax, competition, projects and intellectual property practices. Corrs also separately advised Stockland on the establishment of the SSRCP capital partnership.

The transaction was jointly led by partners Andrew Lumsden, Shabarika Ajitkumar, David Ellenby and Natalie Bryant and senior associates Candice Joll and Nathan Ma, while the debt financing for the transaction was led by partner Megan Russell.

Commenting on the matter, partner Andrew Lumsden said we are delighted to partner with Stockland, our longstanding client, and Supalai on a landmark transaction for the Australian residential development sector. This complex deal required expertise and input from across a large multi-disciplinary team at Corrs. Cross practice collaboration enabled us to deliver an outstanding result.