Gilbert + Tobin has advised Roads and Maritime Services (RMS) on a long-running, substantial project culminating in the awarding of a 20-year concession to operate guided climbs on Sydney Harbour Bridge to Hammons Holdings (Hammons).
One of Sydney’s most iconic landmarks, the Sydney Harbour Bridge is the most visited tourist attraction in Sydney and has been climbed by more than 3.4 million local and international visitors over the past 18 years.
The opportunity attracted numerous expressions of interest from local and international tourism operators.
Hammons is an Australian family-owned company that also operates Scenic World in the Blue Mountains, attracting over 1 million visitors each year. Hammons will commence operations on the Sydney Harbour Bridge from 1 October.
G+T’s projects team worked seamlessly with the RMS to draft the tender documents and the new Concession Agreement, as well as manage negotiations with a number of local and international bidders.
Real Estate + Projects partner Steven Mackay said:
“We are delighted to have helped RMS in this historic transaction. It required a unique mix of projects, infrastructure and real estate expertise together with government procurement experience. The Sydney Harbour Bridge is a truly iconic and complex asset, being Australia’s most renowned landmark which attracts millions of international visitors and locals alike. The transaction represents an excellent outcome for RMS at the end of what was a lengthy and detailed competitive process. We are very proud to have played a leading role in achieving this fantastic result.”
G+T Partners Steven Mackay and Lesley Sutton were supported by lawyers Isabelle Wong and Melissa Goode.
The G+T Real Estate + Projects team acts on some of the most complex transactions in the market and is ranked in Chambers Asia-Pacific and the Legal 500 Asia Pacific.