Deals Of The Week: 13 October 2017

Deals Of The Week: 13 October 2017

13 October 2017

NATIONAL: Investment in Australian commercial real estate reached $23.3 billion over the first nine months of 2017, up 15 per cent on the same time last year. The sector on track to come close to the calendar-year peak of $35 billion achieved in 2014. During the third quarter, the office sector accounted for more than half of all deals by value — AFR.

BRISBANE: Sentinel Property Group has snapped up a major industrial investment with development upside in the prime Australia TradeCoast precinct, at Pinkenba in Brisbane’s east, for $48.5 million. The waterfront bulk storage industrial facility on a 140,006sq m site in Tingira Street was bought in a leaseback arrangement with listed industrial chemical company Incitec Pivot — The Australian.

BRISBANE: AFR Rich Lister Tim Gurner has settled over $200 million worth of apartments in the first stage of his flagship FV Brisbane high-rise development with not a single default. FV, a three-tower project with almost 1,000 apartments in Fortitude Valley on the Brisbane city fringe, is arguably Mr Gurner’s most ambitious and riskiest project to date — AFR.

MELBOURNE: QIC Global Real Estate secured and Deutsche Asset Management have settled a $200 million property swap of a Sydney shopping centre, Pittwater Place, and a 16-level office tower at 555 Lonsdale Street Melbourne. The deal is the first direct swap undertaken since a deal between Tower Holdings and Stockland for 9 Castlereagh Street and Northpoint in North Sydney several years ago.—AFR.

SOUTH AUSTRALIA: A prized 2,398-hectare Kangaroo Island estate used in South Australian tourism campaigns has been put up for sale for the first time in 49 years with a $10 million-plus price tag. De Mole Estate, which includes 3.7 kilometres of its own private coastline, on the north-west corner of Kangaroo Island, is being sold by the family of the renowned South Australian pastoralist and property investor Lloyd Wilkinson, who passed away 10 years ago — AFR.