Deals of the Week: 13 July 2018

Deals of the Week: 13 July 2018

Sydney: ASX-listed retail giant Scentre Group has acquired a 50 per cent stake in Westfield Eastgardens in Sydney’s south-eastern suburbs for $720 million. The centre was wholly-owned by the John Saunders-founded Terrace Tower Group, which sold the Westfield Eastgardens centre on a 4.25 per cent yield – representing one of the country’s largest ever single-asset retail deals — The Urban Developer.

New Zealand: Logistics and operations specialist Logos has expanded into the New Zealand market, acquiring a 10-hectare site with plans to develop a NZ$200 million (AU$183m) estate. Logos’ latest acquisition, from Fletcher Concrete and Infrastructure Limited, is a 55,000sq m site in Auckland’s industrial suburb of Wiri — The Urban Developer.

Melbourne: Co-working office space competitors, Spaces and Hub Australia will be less than one kilometre apart in Melbourne’s CBD, with both companies committing to two separate tenancies on Collins Street. The duo will join Google in the Collins Street precinct, with the global tech giant opening its doors to its new Melbourne home last week — The Urban Developer.

Melbourne: ASX-listed developer Cedar Woods has sold a third office building in the Victorian masterplanned development Williams Landing for $25.93 million. Hellenic Property Investments, a subsidiary of the Hellenic Club of Canberra, bought the property at 107 Overton Road on a yield of 5.4 per cent — The Australian Financial Review.