Deals of the Week: 29 November 2019

Deals of the Week: 29 November 2019

MELBOURNE: The Australian National Institute of Business and Technology (ANIBT) has sold its Melbourne CBD headquarters for $9,600,000, representing the city’s largest strata office transaction for 2019. CBRE Melbourne City Sales agents Julian White, Nathan Mufale, Alex Brierley and Chao Zhang transacted the 474 Flinders Street property on behalf of ANIBT via a public Expressions of Interest process.—CBRE.

MACQUARIE PARK: Landlords Stockland and Singapore-listed AIMS APAC REIT have convinced telco Optus to renew its lease at its Macquarie Park business campus in Sydney’s north for another 12 years. Optus has been a tenant at the A-grade office building at 1-5 Lyonpark Road, also known as Optus Centre, for 12 years.—The Urban Developer.

BRISBANE: Listed Singaporean property REIT Mapletree Logistics Trust has bought 36 hectares of industrial land on Brisbane’s outskirts in a deal worth about $95 million as institutional investors look beyond Sydney for better value.—AFR.

NORTH SYDNEY: Deal-hungry property investor Abacus Property Group has acquired a prominent A-grade building located in North Sydney for $311.3 million. The ASX-listed company, which recently withdrew its joint bid with Charter Hall Group for Australian Unity Office Fund, bought the building in the face of stiff competition from large institutional buyers from Charter Hall, EG and Singapore’s Keppel Capital.—The Urban Developer.

SYDNEY: Property fund manager Charter Hall has purchased a 3.9-hectare site in Sydney’s west for $26 million with plans to develop an industrial estate. The Charter Hall-managed Core Logistics Partnership says the newly-acquired site, at 56-62 Glendenning Road, in the Glendenning logistics precinct provides the opportunity for re-development into a $60 million multi-unit industrial estate, with a gross lettable area of 21,000 square metres.—The Urban Developer.

SYDNEY: The who’s who of Sydney’s property market, alongside a number of international retail heavy hitters were out in force for today’s auction of 106 King Street, Sydney, a sign that the CBD’s luxury retail precinct which surrounds King and Castlereagh Street, is still and will always be, hot property. A local, private owner occupier snapped up the iconic freehold, vacant Heritage building for $23.5 million, outbidding a number of global players, many of which are in the retail/ fashion sector.—Savills.

BRISBANE: Brisbane-based developer Tom Dooley Developments has purchased a large riverfront development site for $23 million, with early plans for a multi-million-dollar apartment development. The 2,333sq m site, spread across three blocks at Maxwell Street in New Farm, is now the largest privately owned single-line land holding with medium-density residential zoning.—The Urban Developer.

PARRAMATTA: Charter Hall Direct PFA Fund is the latest vendor in Parramatta to take advantage of strong demand for office properties,  with the sale of a seven-storey building at 9 Wentworth Street to a private investor for $64.25 million.—AFR.

MACQUARIE PARK: Perth-based fund manager Lester Group’s refurbishment program at its four-level Macquarie Park office building has paid off after the group sold it for close to $26 million. The fund manager, which held the asset at 12 Waterloo Road through a syndicate, bought it for $14.55 million in 2015.AFR.