$2.2 billion spree buoys Brisbane office market

$2.2 billion spree buoys Brisbane office market

The Brisbane office market, which has been slow to bounce back since the end of the mining boom in 2012, has finally swung into recovery mode following a $2.2 billion spree by investors, according to Savills Research. The upbeat assessment comes a month after BIS Oxford Economics urged caution against expectations that the worst was over,...

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London investors scoop up Quest Apartment Hotel in Brisbane for $24m

London investors scoop up Quest Apartment Hotel in Brisbane for $24m

London based investments firm 90 North Real Estate Partners (90 North) have made their first foray into the Australian real estate market with the acquisition of a brand-new Quest Apartment Hotel in Brisbane. Located in Greater Springfield, Queensland, the Quest hotel transaction is worth $24.3 million. 90 North launched in Sydney in ...

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Suncorp settling into $800 million Brisbane tower

Suncorp settling into $800 million Brisbane tower

Suncorp will become the anchor tenant in a new Brisbane CBD tower, following a leasing deal which has been dubbed Brisbane's largest in a decade. Mirvac is the developer behind the new $800 million tower at 80 Ann Street in the Brisbane CBD and announced today that Suncorp is to become the anchor tenant of the new property. Suncor...

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Cedar Woods sells third Melbourne office building

Cedar Woods sells third Melbourne office building

The market for Melbourne office space continues to burgeon as new developments continue to sell like hotcakes. Cedar Woods (ASX: CWP) announced on Thursday morning that it has sold its third office building in Williams Landing, an emerging area in Melbourne's west. Cedar Woods sold the office space to Hellenic Property Investments...

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Dècor's Melbourne headquarters sold for $16 million

Dècor's Melbourne headquarters sold for $16 million

The corporate headquarters of homeware giant Décor, in Melbourne's eastern industrial hub of Scoresby, has sold for $16.25 million. Purpose built for Décor in 1979, the facility has been acquired by Ascendas REIT Australia. The property has undergone several upgrades and changes over the past four decades, but its on...

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Surfers gets into the Spirit to lure the 'super rich'

Surfers gets into the Spirit to lure the 'super rich'

IT'S the largest single residential tower ever undertaken on the Gold Coast, poised to add 479 premium-priced apartments to central Surfers Paradise, but the Chinese developer sees no issue in finding buyers with deep pockets. Beijing-based Foriseland has officially launched the $1.2 billion Spirit project, an 89-level mixed-use devel...

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EG sells Melbourne CBD office for $93.8 million

EG sells Melbourne CBD office for $93.8 million

After receiving high levels of unsolicited interest from domestic and foreign buyers, real estate fund manager EG has sold its 12-storey office building in Melbourne for $93.8 million. The property, located at 277 William Street, was snapped up by an undisclosed Hong Kong investor in a deal jointly managed by CBRE and JLL. During the ...

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Sunland's latest Melbourne acquisition to support $100 million development

Sunland's latest Melbourne acquisition to support $100 million development

Sunland Group (ASX: SDG) has snapped up a prime site south-east of the Melbourne CBD, earmarking the location for a development end-valued at $100 million. The Gold Coast property developer acquired the 5.1-hectare site in Carrum Downs for $13 million and unveiled plans to turn the area into a community comprised of 185 terrace homes. ...

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Watpac secures $49m Melbourne Uni student accommodation contract

Watpac secures $49m Melbourne Uni student accommodation contract

Watpac will build a 13 level student accommodation building for the University of Melbourne after securing a $49 million contract. The listed construction company will build the 123-135 Bouverie Street student accommodation centre in Carlton for Cedar Pacific, which will be operated by UniLodge. The purpose-built facility will house 6...

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Landmark lease ushers in new era for Gold Coast startups

Landmark lease ushers in new era for Gold Coast startups

The Gold Coast Innovation Hub (GCIH) has moved into Robina's newly refurbished The PC, marking the city's largest lease deal in the past 12 months. The PC is owned by master developer Robina Group and fully tenanted following its latest deal with the startup incubator. GCIH has secured the remaining 1,822sqm of The PC office s...

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Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland Group (ASX: SDG) has added a 3.26-hectare site in Kenmore to its portfolio, a $13.1 million acquisition that the company says will boost its presence within a high-growth area. The development site encompasses several addresses on Moggill Road and Wyndarra Street and has been approved for 96 terrace homes with an estimated end val...

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Aqualand Group takes major stake in McGrath

Aqualand Group takes major stake in McGrath

McGrath Limited (ASX: MEA) has sold a 15 per cent stake in the company to property giants Aqualand Group that gives the company a $10.7 million injection of fresh cash. Aqualand has already acquired an 8.7 per cent stake in McGrath and will take a further 6.3 per cent stake if the deal is approved by McGrath shareholders. The ASX list...

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SCA Property Group sells four shopping centres into new $58m unlisted fund

SCA Property Group sells four shopping centres into new $58m unlisted fund

On the back of SCA Property Group's (ASX: SCP) successful unlisted retail fund strategy called SURF the company has launched the third iteration of SURF valued at $58 million. SURF 3 is currently raising funds to help acquire a portfolio of shopping centres on the east coast to form the new unlisted retail fund. SCA is looking for...

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Investa enters into $3.14b takeover agreement with Blackstone

Investa enters into $3.14b takeover agreement with Blackstone

Investa Office Fund (ASX: IOF) has confirmed it has entered into a takeover agreement worth $3.14 billion with US private equity group Blackstone.  After receiving the takeover proposal in early May 2018, the group, which operates some of the most high profile office buildings in Australia, has agreed to Blackstone's terms. U...

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Brisbane's QueensPlaza to undergo $36m revamp

Brisbane's QueensPlaza to undergo $36m revamp

Vicinity Centres, the owner of Brisbane inner city shopping destination QueensPlaza, announced on Friday that its redevelopment application for the centre has been approved by Brisbane City Council. Through a $36 million development, the company plans to elevate QueensPlaza's precinct and shopping capabilities to cater for a growing d...

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Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall Retail REIT (ASX: CQR) has teamed up with Charter Hall Prime Retail Fund to form a new joint venture to acquire a prominent Victorian shopping centre. The joint venture will allow Charter Hall to enter an unconditional contract to acquire buy Gateway Plaza in Leopold for a total consideration of $117 million. Charter Hall...

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Vicinity to sell $1bn of assets to enhance portfolio

Vicinity to sell $1bn of assets to enhance portfolio

Listed property developer Vicinity Centres (ASX: VCX) will sell off $1 billion of its assets to reinvest the money in more value-accretive opportunities. The group will sell off sub regional and neighbourhood centres to focus on new investments which it calls "destinations" and "entertainment experiences". Grant Ke...

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Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld Travel (ASX: HLO) has acquired a controlling stake in Perth-based Asia Escape Holidays (AEH) for $2.88 million, in a move to boost competitiveness in the travel package deal and impulse buyer markets. The Sydney-based travel agent now owns 60 per cent of Keygate Holdings, the parent company of AEH, and maintains the option to i...

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Clarence Property in the zone with $31.25m acquisition

Clarence Property in the zone with $31.25m acquisition

The Zone Shopping Centre at Underwood has changed hands for $31.25 million, marking the fourth South East Queensland-based acquisition for Clarence Property's Westlawn Property Trust (WPT) over the past six months. In the last half year, WPT has purchased other commercial and retail assets in Hamilton, Spring Hill and Northgate for a ...

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Childcare centre sells for record $21m as confidence in sector is restored

Childcare centre sells for record $21m as confidence in sector is restored

A childcare centre in Artarmon has sold for a record $21 million, which marks the largest sale of a single tenanted childcare property in the country. The sale of the three-storey centre at 6 Clarendon Street was negotiated by CBRE and attracted a yield of 6 per cent. The property is currently tenanted by Affinity Education Group and ...

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