Deals of the Week: 3 November 2017

Deals of the Week: 3 November 2017

BRISBANE: AMP Capital has swooped on an A-grade office building at 199 Grey Street in South Brisbane for $92.6 million. Built in 2008, the 14-storey tower is 94 per cent occupied, with the vacant areas subject to an 18-month rental guarantee. On average, the leases have 4.7 years left to run — The Urban Developer.

SYDNEY: Powerful local super fund platforms REST Industry Super and ISPT are vying to secure a one-third stake in AMP’s a $1 billion Quay Quarter project in Sydney. The purchase would be a record result for premium commercial property in the country’s biggest market. Sources estimate that the yield on the deal could well fall below 4.5 per cent, an important barometer of the state of the market — AFR.

SYDNEY: Investa Property Group is offering a 13-storey building in Sydney’s Pitt Street with expectations it could sell for around $200 million. The 10,893-square metre building at 130 Pitt Street joins about $2 billion worth of office property available for sale in the Sydney CBDAFR

SYDNEY: The Australian reports that Hong Kong-based K. WahGroup is the successful bidder in a race to purchase TH Real Estate’s A-grade office block in Hunter Street, central Sydney, for more than $190 million. The sale comes as investors vie for buildings across Sydney, with more than $1.3 billion worth of towers in play with international groups setting a fierce pace for assets — The Australian.

MELBOURNE: The Victorian Automobile Chamber of Commerce (VACC) is looking to sell its headquarters at 464 St Kilda Road, an eight-level, 14,000 square metre building for $100 million or more. The building is one of the largest office towers in Melbourne’s St Kilda Road precinct to hit the market in 60 years. The VACC, which occupies around one third of the building, will undertake a lease back over their space as part of the sale process — AFR.