Besen Family Office (Besen) today announced the sale of the lease of the Old Swan Brewery in Perth to Minderoo Group, the investment group of Andrew and Nicola Forrest.
The Old Swan Brewery, acquired by Besen in 2006, is a significant Perth property. The site stands today as a mixed-use precinct with residential apartments, commercial floor space for offices and restaurants, and a car park.
Duncan Murray, CEO of Besen Family Office, said: “Besen is proud to have managed one of Western Australia’s most iconic landmarks for the last decade. The site will continue to be in good hands under Minderoo’s ownership – a proudly West Australian organisation.”
Minderoo Group is acquiring the Old Swan Brewery as a long-term property investment and may utilise some of the office space.
Andrew Hagger, CEO of Minderoo Group and philanthropic organisation Minderoo Foundation, said: “Minderoo Group and Minderoo Foundation have grown substantially in recent years and the Old Swan Brewery could help fulfil our need for more space. But more importantly, Minderoo is thrilled to see the Old Swan Brewery site return to West Australian hands. Minderoo recognises its long and significant importance to so many West Australians and looks forward to being part of its next chapter.”
The transaction transfers the ownership of the carpark and commercial floor space to Minderoo Group. The restaurants will continue to be leased to the existing tenants. The 28 residential apartments are subject to sub-leases owned by individuals.
The transfer of ownership remains subject to Ministerial approval.