King & Wood Mallesons (KWM) has acted for a consortium, comprised of Macquarie Infrastructure and Real Assets (MIRA), a MIRA-managed fund, Sunsuper and HESTA, in respect of the consortium’s successful bid in respect of the partial commercialisation of Landgate’s automated land titling, plan and associated services by the Western Australia Government.
Under the partial commercialisation, which was finalised this week, the consortium will provide, maintain and improve the systems and processes that facilitate automated land titling services to Landgate for a 40-year period. The consortium will pay an upfront consideration of $1.41 billion to the Western Australia Government as part of the partial commercialisation.
The KWM team acting on the transaction was led by partner Rob Edel, with partners Nicole Heller and Jeff Clark also involved in the transaction. Additional support was provided by special counsels, Gareth Howe and Patrick Atkinson and senior associates, Catherine Danne, Shabarika Ajitkumar, Mitch Reynolds, Danika Kuczerepa and Katie Lewis.
Commenting on the transaction Rob said: “We are delighted to have worked with the consortium to finalise the partial commercialisation of Landgate. This transaction represents the first commercialisation by the Western Australian government in a number of years and KWM is incredibly proud to be involved in this transaction. KWM showed substantial cross-practice collaboration across KWM’s Perth, Sydney and Melbourne offices while acting on this transaction and drew on KWM’s experience having been involved in all previous land registry privatisation transactions in Australia.”
The partial commercialisation of Landgate follows other land registry commercialisations in New South Wales, South Australia and Victoria.