Andrew Steele
Clayton Utz
Partner
Sydney
He is not just a lawyer, but he thinks holistically about a project - he will become a business adviser and immerse himself in the deal.
– Chambers Asia Pacific
Overview
Andrew Steele is the National Practice Group Leader of the Real Estate team and is recognised as one of Australia's leading property lawyers, focusing on both advice and transactional aspects of property law.
Andrew has over 25 years' experience working closely with a range of clients including government agencies, fund managers, financial institutions, restructuring and insolvency practitioners and developers.
Andrew's experience includes advising the NSW State Government on complex title matters and local governments on the acquisition and development of strategic sites. His expertise also extends to the private sector and includes advising clients on the development, acquisition and disposal of industrial, hotel, retail and other commercial properties, negotiating development agreements, joint venture documents and management agreements.
Andrew is keenly focused on providing practical commercial solutions and has a particular interest in understanding transaction objectives and collaborating on the formulation of, and executing transaction strategy.
Andrew especially enjoys his involvement in projects that generate employment and transform communities, including social and affordable housing and health infrastructure projects.
Notable Work
- Health Infrastructure NSW: Andrew is currently acting for Health Infrastructure in relation to the acquisition of strategic sites for its $615M Ambulance Infrastructure Program.
- Celestino: Advising Celestino on its A$5bn Sydney Science Park project that will create an internationally recognised epicentre for research and development in the heart of Western Sydney. Set over 280ha, Sydney Science Park will be a fully integrated community that will create more than 12,000 knowledge based jobs, cater to over 10,000 students and be home to over 10,000 residents. Andrew is providing complex titling advice, acquiring greenfield sites and assisting Celestino in relation to its dealings with the local authority in connection with the ownership and management of publicly accessible areas (including complex insurance and indemnity issues).
- Goodman: Andrew has acted for Goodman in connection with the development of the Oakdale Industrial Estate, a 440 hectare logistics hub, including multiple agreements for lease to the likes of DHL, Sigma Pharmaceuticals, Iron Mountain and Briggs & Stratton, and the development and divestment of sites to Toyota and Costco. Andrew's involvement included the establishment of a development joint venture between Goodman and Brickworks and complex agreements for lease, easements and option arrangements.
- Goodman: Andrew acted for Goodman on its acquisition of the former Australian Broadcasting Corporation site at Artarmon in Sydney which completed in late January 2023.
- AXA IM - Real Assets: Advised AXA on its development of a health care precinct, which includes the development and operation of an 83 bed aged care facility, a public hospital and 69 units retirement living units in Victoria with Calvary Healthcare (the Catholic Church). The development value was $140 million
- Insolvency Practitioners: Andrew has a wealth of experience acting for IPs in relation to the management and disposal of real estate assets, including acting for the receivers and managers of ABC Learning Centres.
- CBA: For over 20 years, Andrew has advised CBA in relation to a variety of real estate matters, including lease negotiations, lease disputes, real estate due diligence in relation to lending transactions and sales (and leasebacks) of Bank freehold property. Andrew works closely with the Bank's Group Property & Security team to deliver sensible commercial outcomes, including in relation to real estate disputes.
- AXA IM: Andrew acts for AXA IM in relation to its collaboration with St George Community Housing to deliver social and affordable housing in Australia. As part of this collaboration, Andrew and the Clayton Utz team assisted AXA IM with the acquisition of a development site in Westmead, Sydney for the purposes of the development of sustainable and market-leading housing for, amongst others, key health workers who are essential to supporting the health and wellbeing of the community.
- AXA IM – Real Assets: Andrew acted for AXA IM – Real Assets in connection with its acquisition of a portfolio of Accor managed hotels in New South Wales and the Australian Capital Territory, including conducting title, lease and management agreement due diligence, negotiating transaction documents and attending to project close. Andrew acted for AXA IM – Real Assets) in relation to its disposal of its portfolio of InterContinental Hotel Group managed assets located throughout Australia for $500M.
- Squadron Energy - CWP Renewables: Acted for Squadron Energy on the acquisition of CWP Renewables who own a portfolio of solar and wind farms and battery energy storage centres at locations across New South Wales, Victoria and Queensland. With a combined renewable energy operating portfolio of 2.4 gigawatts (GW) and an Australian development pipeline of 20GW, Squadron Energy will soon generate enough power to provide enough electricity to power 8.5 million Australian homes accelerating the nation’s energy transition to cleaner and more dependable sources of renewable energy. This transformational transaction represents Australia's largest renewable energy deal to-date causing Squadron Energy to successfully become Australia’s largest renewable energy investor, operator and developer. Andrew assisted Squadron Energy to navigate the various real property issues impacting the transaction arising from the vast and complex portfolio of operational and development assets owned by CWP Renewables, and advised Squadron Energy on the negotiation of real estate aspects of the transaction documents.
- The City of Sydney: Advising The Council for the City of Sydney on its disposal of the former Fig and Wattle Street Depot. The disposal, by means of an Expression of Interest process, will see the reactivation of this area of Sydney. The purchaser will not only be required to develop the 1.2 hectare site for mixed-uses but will also have to provide back to the City a multi-use 2-court indoor recreation centre and a 91-place child care centre. Having advised both sectors on land activation and precinct developments allows Andrew to provide a holistic approach to any project as he understands the balance of competing Government and private interests.
- The City of Sydney: Andrew acted for The City of Sydney in relation to its acquisition of The Woolstores, Alexandria for $110M in late 2022.
- NSW Department of Industry: Andrew acted for the NSW Department of Industry in relation to the Western NSW Radars Project Agreement with the Commonwealth of Australia represented by the Bureau of Meteorology. The project involves the installation of 3-doppler weather radars to enable enhanced decision making amongst farmers, industry, emergency services and the public, by strengthening the weather radar network in western NSW.
- Landcom: Assisting Landcom with its acquisition of a development site at the Glenfield – Hurlstone Agricultural High School from the NSW State Government.
Insights
Start dates confirmed for Revenue NSW’s changed duties assessment procedures for sale of land of $20 million or more
30 Aug 2024 | Article
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Beware delays as Revenue NSW changes its duties assessment procedures for sale of land of $20 million or more
7 Aug 2024 | Article
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Deposit, Coposit or no-posit? The question posited by today's lenders in Australia's housing market
5 Jun 2024 | Article
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The Australian Government's response to the Privacy Act review: the use of facial recognition technology
23 Jan 2024 | Article
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Real Estate 5 Minute Fix 22: residential tenancy, zoning and tax reforms, current market rent
7 Aug 2023 | Article
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Proptech: Building and managing a smarter future in a post-COVID-19 world – Using generative AI
4 Aug 2023 | Article
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Proptech: Building and managing a smarter future in a post-COVID-19 world – intellectual property considerations
19 May 2023 | Article
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"The Ordinary Course of Business" during the least ordinary of times: The High Court decides on Laundy Hotels
24 Mar 2023 | Article
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Real estate 5 Minute Fix 21: unfair contract terms; build to rent, PEXA, rent abatement withdrawal, developer regulation
7 Mar 2023 | Article
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Real estate 5 Minute Fix 20: stamp duty and revenue, land tax, e-conveyancing, and mortgagee protections
12 Dec 2022 | Article
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NSW's Retail Leases Act is under review – make a submission or complete the survey by 9 December 2022
17 Nov 2022 | Article
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Proptech: Understanding and managing privacy and surveillance issues
26 Oct 2022 | Article
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Real estate 5 Minute Fix 19: WA significant developments, off-the-plan contracts, ACT residential tenancies, REIQ contracts
16 Sep 2022 | Article
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Proptech: Building and managing a smarter future in a post-COVID-19 world – cybersecurity risks
18 Aug 2022 | Article
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FIRB application fees will double from 29 July: what you need to know
25 Jul 2022 | Article
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Proptech: Building and managing a smarter future in a post-COVID-19 world
21 Jul 2022 | Article
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Real Estate 5 Minute Fix 18: electronic execution; land tax rent relief, new REIQ commercial contracts, agent licensing, NSW COVID-19 regulation
24 Jun 2022 | Article
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Opportunities ahead for the Australian property sector from the change in Federal Government
9 Jun 2022 | Article
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Real estate: 5 Minute Fix 17: COVID-19 measures; exemption approval for foreign Australian-based developers; land tax; off the plan; Property Market Review
17 Mar 2022 | Article
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Temporary COVID-19 protections for NSW commercial and retail lessees extended
17 Jan 2022 | Article
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Real estate: 5 Minute Fix 16: PEXA settlements, e-conveyancing, COVID-19 measures, Windfall Gains Tax
9 Dec 2021 | Article
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Real estate: 5 Minute Fix 15: COVID-19 relief, stamp duty and land tax changes, strata and community title
2 Sep 2021 | Article
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Temporary protections for NSW tenants following release of new regulations for COVID-19 financial support package
19 Jul 2021 | Article
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New COVID-19 economic support package opens door to rent reductions, land tax concessions for NSW landlords and tenants
14 Jul 2021 | Article
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Real estate: 5 Minute Fix 14: e-conveyancing, put options, electronic execution
10 Jun 2021 | Article
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State of Play: Tax considerations for real estate assets in 2021
30 Apr 2021 | Article
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Real estate: 5 Minute Fix 13: COVID-19 relief measures, Vic Owners Corporations law reform , and updated NSW Retail Tenancy Guide
4 Mar 2021 | Article
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2021 Update: What you need to know as COVID-19 measures for commercial and residential tenancies are coming to an end
18 Feb 2021 | Article
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Significant Australian foreign investment reforms commencing 1 January 2021
11 Dec 2020 | Article
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Court weighs in on COVID-19 leasing legislation: Landlords may need to prepare for the long haul
8 Sep 2020 | Article
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Australia restores no-review threshold for foreign acquirers of leasehold interests in certain commercial land
4 Sep 2020 | Article
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Mandatory code of conduct for commercial and retail leases on the way as part of COVID-19 response
6 Apr 2020 | Article
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Changes to foreign investment review in Australia under temporary COVID-19 measures
30 Mar 2020 | Article
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NSW COVID-19 Emergency Measures Act to provide rent and termination relief for tenants in NSW
25 Mar 2020 | Article
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Sunset dates: When does the clock run out on off-the-plan contracts?
28 Nov 2019 | Article
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NSW developers have one month to get ready for new Disclosure Statement and sale of land contracts
29 Oct 2019 | Article
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Media Release: Clayton Utz advises on significant government collaboration to deliver real-time weather data in regional NSW
23 Apr 2019 | Media Release
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Media Release: Clayton Utz advises AXA on acquisition of Accor hotels
20 Mar 2019 | Media Release
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NSW Government seeks comment on SEPP 70 changes to accelerate affordable housing
4 Dec 2018 | Article
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Time is running out for owners of buildings with combustible cladding in NSW
5 Sep 2018 | Article
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NSW Interim Occupation Certificates to stay until September 2019
16 Aug 2018 | Article
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Top partner joins Clayton Utz's national Real Estate practice
5 Jul 2018 | Media Release
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