Felicity Savage

Felicity Savage

Felicity is a senior partner in the Sydney real estate group. Felicity’s practice focuses on development of an investment in large scale real estate. Her practice concentrates on complex structured transactions as well as development of real estate assets. Felicity has a depth of knowledge in all classes of real estate including alternative asset classes such as student accommodation, data centres, hotels, retirement living and manufactured homes. Her clients include large multinational clients, inbound investors and domestic real estate houses.

Felicity has been nominated as one of the world’s best lawyers by Chambers Asia Pacific 2015 which notes "She's commercially savvy and able to turn around drafts at an amazing speed. She handles negotiations very well and is not fazed by stressful timelines”. She is also ranked by Best Lawyers in Australia since 2014 in the area of Real Estate law, is voted as a leading Property and Real Estate lawyer in Doyle’s Guide and was the only Australian finalist for Euromoney Women in Business Law Asia – Real Estate in 2015.

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Recent matters

  • Hospitality: $500 million strategic partnership between The Ascott Limited and Quest including the acquisition of a 20% interest in Quest, Australia’s largest serviced apartment provider by Ascott (the world’s largest international serviced residence owner – operator) and wholly owned by CapitaLand together with the acquisition of 3 properties from Quest. Acquisition of The Westin, Sydney acting for a joint venture between Singaporean private company Far East Organization and Hong Kong listed entity Sino Land for record breaking price of $445 million equivalent to $1.2 million per room.

  • Acquisitions and disposals: Mirvac sale of 50% stake in the Old Treasury development in Perth; Brookfield $130m acquisition of 50% of Bankwest Tower, Perth; Brookfield sale of 25% interest in NAB House. Acquisition for Brookfield of 285 George Street, 50 and 60 Carrington Street Sydney; Acquisition for Australand of 27-37 Dehli Road, North Ryde, and acquisition of 20 hectare site from Reading at Burwood, Victoria for a new 800 home development. Sale of 175 Liverpool Street for $392 million on behalf of Government of Singapore Investment Corporation. Sale of 375 Collins Street to Frasers Centrepoint for $222.5 million. Sale of Australand Residential Trust Jindowie development to the Western Australian Government of Housing and ongoing advice to Australand as development manager. Acquisition and subsequent disposal by Westpac of two portfolios of Defence Housing assets comprising nearly 500 houses around Australia.

  • Property finance: Australand Property Group A$1 billion Syndicated Unsecured Facility (2010), Australian counsel in connection with Australand Property Group's US$170 million Private Placement note issue, Australand Property Group A$550 million Syndicated Unsecured Facility (2011); Australand Residential Trust 2011 Refinancing A$130 million for 8 projects in NSW, Queensland, Victoria and Western Australia, JPMorgan Global Special Opportunities Group/Morgan Stanley financing of 25 retirement villages via A$228 million mezzanine facility and A$20 million convertible facility and subsequent exit on sale of Retire Australia business to H.R.L Morrison & Co, Westpac Banking Corporation financing of development of Westpac corporate Headquarters for Westpac Office Trust; financing of Australand Wholesale Property Fund No. 6; Acquisition by Goldman Sachs and Fortress Australia of Bank of Scotland debt owned by Becton Group.

  • Joint Ventures: Establishment of Australand Residential Trust a 50/50 joint venture between Australand Property Group and Bank of Scotland, establishment of Australand Logistics Joint Venture a A$450 million joint venture between Australand Property Group and Government of Singapore Investment Corporation. Establishment of joint venture between Macquarie Capital and Government of Singapore Investment Corporation for investment in Iglu, a student accommodation provider with the largest acquisition of off-campus student accommodation in Australia including a property portfolio with a capital value of approximately A$150 million. Advising Paine Partners on real estate aspects of the acquisition of a 50% interest in agricultural business Costa Exchange and subsequent exit. Advising Far East Organization in connection with its joint venture with the Toga Group for a mixed use development at Five Dock, NSW and advising Far East Orchard on its joint venture arrangements with Toga Group for a premium residential water front development in Balmain, NSW.

  • PPP transactions: NSW Police Service Headquarters development, Newcastle Mater Hospital PPP, Royal North Shore Hospital PPP, NSW Railcorp, Rolling Stock PPP, Sunshine Electricity renewables project financing, advice to unsuccessful bidder for the development of 1,300 apartments for the Commonwealth Games Village on the Gold Coast, advising Mirvac on A$1.5 billion redevelopment of Karratha, City of the North in partnership with the Western Australian Government (did not proceed).

  • Student accommodation developments: acted for student accommodation provider in connection with the development of student accommodation facilities at Royal Melbourne Institute of Technology (Victoria), Murdoch University (Western Australia), University of Western Sydney (NSW), Southern Cross University (NSW), restructure of ownership of on campus student accommodation facility at Macquarie University and disposal of off campus facility at Kelvin Grove to Iglu as well as related financing and construction components for these projects. Acted for unsuccessful bidder for student accommodation project at University of Wollongong.

  • Property projects and developments: All aspects of Brookfield One Carrington development, A$130 million acquisition by Brookfield Prime Property Fund of 50% of Bankwest Tower, $25 million acquisition and $140 million joint venture structuring of development project at Eastern Creek, Bennelong Point development, Observatory Tower, development of Discovery Point by Australand and joint venture, advise to investors into Lend Lease Barangaroo development.


  • 1989: Bachelor of Arts (Asian Studies), Australian National University
  • 1992: Bachelor of Laws, Australian National University
  • 1992 -1997: Solicitor, Mallesons Stephen Jaques, Sydney
  • 1997 - 1999: Solicitor, Ashurst Morris Crisp, London
  • 1999 - 2001: Senior Legal Counsel, Trader.com, Paris
  • 2001 - 2006: Solicitor/Senior Associate, Mallesons Stephen Jaques, Sydney
  • 2007 - present: Partner, King & Wood Mallesons, Sydney.


Legal insights

Following a decade of negotiations, this historic free trade agreement will boost trade & economic growth in both China & Australia for years to come.

17 June 2015

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