Deals of the Week: 10 May 2019

Deals of the Week: 10 May 2019

BRISBANE: Unlisted Centuria Diversified Property Fund has inked its first direct property acquisition, buying a new-build office building at 381 Macarthur Avenue in Brisbane’s Northshore Hamilton for $19.74 million. The three-level A-grade office building sits within the Brisbane Technology Park Northshore office precinct which spans 304 hectares of riverfront, located six-kilometres from Brisbane’s CBD.—AFR.

NSW: Billionaire hedge fund manager Sir Michael Hintze has bought the Canowindra aggregation in Central Western NSW from Macquarie’s Viridis Ag for more than $21 million. The aggregation, which comprises 3651-hectare Canomodine on the Belbubula River and 536-hectare Elonera west of Orange, will add to the more than 40 properties and 72,000 hectares farmed by Sir Michael’s MH Premium Farms in NSW, Victoria and Queensland.—AFR.

SYDNEY: LOGOS Property has struck a large lease deal with Intertrading Australia which will be the final tenant at its $300 million Prestons Logistics Estate in Sydney’s west. The 12,000 square metre contract is for 15 years and will house Intertrading Australia’s wholesale importation and distribution business.—SMH.

SYDNEY: Sydney property tycoon Sam Arnaout’s Iris Capital has bought Manly’s Hotel Steyne for about $65 million making it his fifth pub acquisition in the space of nine months. Mr Arnaout acquired the historic waterfront pub from industry veterans John Singleton, Arthur Laundy, Robert Whyte and investment banker Mark Carnegie.—AFR.

MELBOURNE/ADELAIDE: Property fund manager Charter Hall has expanded its holdings in the Melbourne CBD after buying an eight-storey A-grade office building opposite Docklands Marvel Stadium for $192 million. The Docklands property at 737 Bourke Street was bought on a yield of just above 5 per cent. The Bourke Street acquisition followers the capture of a smaller office building at 121 King William Street in the Adelaide CBD for $82.25 million, which has also been added to PFA Fund’s portfolio.—AFR.

MELBOURNE: Funds manager Centennial Industrial & Logistics has snapped up an industrial park in Melbourne’s west, picking it up from GM Property Group for about $35 million. The deal for the Brooklyn Distribution Park at 600-604 Geelong Road, Brooklyn, showed an initial 6.15 per cent yield.—The Australian.

MELBOURNE: Malaysian investors have bought Shark Fin House, home to one of Melbourne’s best-known Chinese restaurants, for $14.5 million. The four-storey building at 131 – 135 Little Bourke Street last changing hands for $7.5 million in June 2016 on a yield of 5.5 per cent.—AFR.