Deals of the week: 1 September 2017

Deals of the week: 1 September 2017

BRISBANE: New Farm’s Queens Arms Hotel on James Street is set to be sold to a syndicate of hotel operators and investors for a reported $21 million. Headed up by Sydney hotelier Peter Ashelford and businessman and Sydney Roosters chairman Nick Politis, it is reported that the syndicate includes Crocodile Dundee star Paul Hogan. The Urban Developer

PERTH: The Insurance Commission of WA has sold Westralia Square for $216 million. The sale of Westralia Square, an 18-level, A-grade CBD office tower in the Brookfield Place precinct, completes the commission’s commercial property exit started more than two years ago. The West

PERTH: Charter Hall has sold a fully leased A-grade office building in Perth to Centuria Metropolitan REIT for more than $50 million. The deal reflected a passing initial yield of 8.6 per cent and a capitalisation rate of 7 per cent. Savills

GOLD COAST: AMP Capital’s unlisted Wholesale Property Fund has acquired a Gold Coast lifestyle shopping centre for $137.5 million in a move that will increase the fund’s retail weighting to almost 40%.

MELBOURNE: A strategic development site in Preston, adjacent to the Preston Market and Preston Train Station, has smashed local sale records, selling for $8 million after intense competition for the site from a mix of local and off-shore developers. Savills