Deals of the Week: 12 October 2018

Deals of the Week: 12 October 2018

National: Data centre operator NextDC will take over a property trust which owns three facilities it runs, ending a long-running battle with its landlord in a $232 million deal. The deal was sealed with the acceptance of the $2 per share cash offer by 360 Capital, the majority owner of the Asia Pacific Data Centre Group property trust.—AFR.

Queensland: Nockatunga Station, located in Queensland’s far southwest corner, 125km west of Thargomindah, has sold for an estimated $50 million to Cleveland Agriculture. Cleveland is owned by Malcolm Harris, who own as adjoining property and operates cattle and cropping properties throughout Australia. The station is regarded as one of the state’s best bullock-fattening properties.—The Australian.

NSW: Continuing on a rural note, the historic 8,738-hectare eastern Riverina aggregation Lake Midgeon has sold for an undisclosed price. The station includes freehold land spread over four lots, the 5,619-hectare Lake Midgeon, North Berembed at 2,064 hectares, the 643-hectare Summerleigh, and Lismoyle sized at 411 hectares. Each lot was sold separately to buyers expected to expand existing sheep and lamb holdings, and to continue the growth of broadacre farming in the region.—AFR

Sydney: A US private equity group has made its maiden investment in Australia after buying the Coles-anchored Hurstville Central Shopping Centre in Sydney’s south for $119.5 million. The deal for the leasehold property, with 42 years remaining, reflected a passing yield of 6.07 per cent. The mall sits about the Hurstville train station, one of the busiest transport hubs in Sydney, with direct links to two major bus interchanges.—AFR.

Melbourne: Rupert Murdoch’s News Corp has sold the premises of its Leader community newspaper business in Melbourne’s eastern suburbs for $30.2 million. The mostly vacant, 6,059-square-metre office building at 1 Chapel Street in Blackburn was acquired off-market by Melbourne fund manager Vantage Property Investments.—AFR.