Deals of the Week: 10 November 2017

Deals of the Week: 10 November 2017

10 November 2017

WORLD: In a record transaction for a single office block, Li Ka-shing’s CK Asset Holdings has agreed to sell its $5.2 billion majority stake in The Center skyscraper, the fifth tallest tower in Hong Kong. The 73-storey tower is being sold to a consortium of bidders from mainland China, which is understood to be led by the Beijing-based China Energy Reserve & Chemicals Group — The Sunday Times.

SYDNEY: Notre Dame University has spent $21 million to buy a vacant lot next to its Sydney campus on Broadway and plans to build a six-storey building with 3,100 square metres of floor space. The purchase paves the way for long term growth of its Sydney campus where about 5,000 students are currently enrolled — The Australian.

SYDNEY: Australia Post has sold the Bondi Beach Post Office to Murray River Organics co-founder Jamie Newtsas for around $15 million. Australia Post confirmed the premium site deal was a one-off decision and there were no plans to sell more properties as part of a broader sales program — AFR.

SYDNEY: In one of Sydney’s biggest ever asset swaps, premium retail centres the Queen Victoria Building, The Strand Arcade and Chatswood Chase have changed hands for over $1 billion in a deal between Australian retail property group Vicinity Centres and Singapore’s sovereign wealth fund Government Investment Corp. The shopping arcades generate some of the highest sales per square metre per annum in the country — The Age.

SYDNEY: The NSW Government has sold its former Motor Registry site in the tightly held Inner West suburb of Five Dock to a private investor for $10.5 million. Located at 1 Ramsay Road, just 7kms west of the Sydney CBD, the 1,971-sqm site comprises a large corner parcel of land, which is highly accessible to both public transport and road infrastructure — Savills.