Deals of the Week: 25 October 2019

Deals of the Week: 25 October 2019

QUEENSLAND: Belgian sugar producer Finasucre has acquired Australia’s largest portfolio of macadamia orchards in a deal worth almost $60 million. The 1018-hectare Winfield Road aggregation, about 57 kilometres north of Bundaberg, includes 644 hectares of mature macadamia orchards and a highly valuable 1838 megalitres of secure water licences.—AFR.

SYDNEY: Sydney-based fund manager Fife Capital has bought a four-level strata property in the Sydney CBD known as the Castlereagh Club in a $19.85 million deal struck on a yield of 6.5 per cent.—AFR.

NSW: A mixed-use, seven-hectare development site, formerly the home of the Heinz tuna cannery at Cattle Bay in Eden, NSW, has hit the market and is expected to be worth more than $400 million once the project is completed. The nine-zone proposed development site, owned by Eden Resort Hotel directors Heinrich Ruiz de Roxas and Lu Lin Yong, is being marketed by Colliers International.—AFR.

PERTH: Sydney-based fund manager EG has emerged as the frontrunner for the purchase of Sunsuper’s office asset in Perth’s CBD, which is expected to sell for approximately $80 million. It is understood the real estate fund manager has entered into an exclusivity agreement with the superannuation fund which could eventuate into a sale of the 12-level A-grade office building for $79.5 million.—AFR.

QUEENSLAND: Brisbane developer Keylin Group has purchased a large-scale masterplanned estate in Hope Island, located on the Gold Coast’s northern corridor, for $50 million. The development site was purchased from a joint-venture partnership between Malaysian multi-nationals Sime Darby and Brunsfield International Group, who had plans for an “exclusive” $650 million residential project on the estate, known as Serenity Cove.—The Urban Developer.

MACQUARIE PARK: Funds manager RF Corval is back buying in the Sydney office market and has quietly picked up the Novartis Macquarie Park Building for about $62m. The six-storey office building has onsite parking for 106 cars and was completed in early 2016. RF Corval assembled a syndicate of wealthy investors to buy the A-grade office asset.—The Australian.