MELBOURNE: Singaporean-based ARA Asset Management will take advantage of historically low east coast office vacancy rates to add a $330 million Melbourne building to its extensive portfolio. The real estate funds manager sealed a fund-through deal with developers Time & Place and the Golden Age Group to buy a yet-to-be-built 10-storey office at 200 Victoria Parade, on the eastern edge of Melbourne’s CBD.—SMH.

CHINA: Hongkong Land Holdings Limited secured a US$4.4 billion (A$6.6bn) mixed-use site on the West Bund of Shanghai in a deal with the Chinese government. One of Asia’s largest conglomerates, Hongkong Land is developing a A-grade office, retail, residential and hotel precinct with a gross floor area of 1,087,050sq m, built across multiple stages by 2027.—The Urban Developer.

NATIONAL: Retail billionaire Russell Withers enjoyed another big payday this week after selling a portfolio of 18 7-Eleven petrol and retail outlets for a combined $78.2 million. Tuesday’s sellout auction means Mr Withers and his family have raked in $156 million from property divestments in less than six months.—AFR.

SYDNEY: A brand new purpose-built childcare centre in North Coogee has sold off-market to a syndicate arranged by Perdaman for $7.1 million, representing a record breaking sale for childcare centres in Perth to date. Located at 53 Orsino Boulevard, the centre was developed by property investment and development firm, RG Property and pre-sold prior to completion of construction.—Savills.

SYDNEY: The Captain Cook Hotel, a heritage-listed pub with a gaming room and accommodation in the south-east Sydney suburb of Botany, has sold for $17 million in an off-market deal to local businessman Warren Livingstone. Mr Livingstone, the founder and managing director of sports-tourism group Fanatics, bought the property, which is located in the commercial precinct of Botany – between Sydney Airport and the Port of Sydney – from its long-time owners, the Shannon family.—AFR.

MELBOURNE: Peregrine Projects is excited to announce the first leasing pre-commitment to CreativeCubes.Co at its Langridge Lanes project situated at 88 Langridge Street, Collingwood. CreativeCubes.Co have agreed to lease Levels 1 2 & 3 of 88L in the Langridge Lanes project, an area of approximately 3,000sqm, plus 40 car parks. The Lease is for 10 years, with two further 5 year terms and is anticipated to commence during Q4 2021.