Deals of the Week: 7 February 2020

Deals of the Week: 7 February 2020

SYDNEY: An office building in the tightly held precinct of Central Sydney will hit the market this month as the vendor, the Community and Public Sector Union, looks to divest its only property in the city. 191 Thomas Street in Haymarket has a price guide of about $75 million.—AFR.

NORTHERN TERRITORY: A company backed by one of South Africa’s richest men is setting itself up to be a major player in the Northern Territory’s beef sector after paying $70 million for two major cattle stations, Tanumbirini and Forrest Hill. The two stations near Daly Waters, about 600 kilometres south-east of Darwin, comprise approximately 559,370 hectares and have a carrying capacity of 40,000 cattle.—AFR.

BRISBANE: Petrol king and property investor Nikos Andrianakos has grown his family’s property portfolio with the purchase of an office complex on the fringe of the Brisbane CBD for $85.2 million. The campus-style offices at 19 Lang Parade in Milton comprise two buildings with a net lettable area of about 13,800sq m.—AFR.

NATIONAL: The Withers family is set to offload another $70 million-plus portfolio of 7-Eleven service stations across Australia. The auction marks the final tranche of the Withers family’s 7-Eleven petrol station assets, after selling 15 outlets in October for a combined $75 million.—The Urban Developer.

MELBOURNE: ASX-listed Stockland announced two tenants for their $44 million warehouse as part of a $2.5 billion industrial pipeline. Combined tenants ASX-listed JB Hi-Fi and Brandlink will lease the recently completed KeyWest Distribution Centre, on a 5.1ha holding in Truganina, west Melbourne.—The Urban Developer.

PERTH: Brookfield Asset Management will sell a 50 per cent stake in One The Esplanade in Perth’s Elizabeth Quay precinct to US investment house Invesco. The $800 million tower will serve as Chevron Australia’s corporate headquarters after the resources giant committed to a 15-year lease for about 78 per cent (42,000sq m) of the tower.—The Urban Developer.