Deals of the Week: 15 December 2017

Deals of the Week: 15 December 2017

SYDNEY: Eight houses and 12 townhouses in Chatswood in Sydney’s lower north shore are on the market in one line and could fetch as much as $250 million. It is understood Sydney developer Develotek has options over the privately owned properties and is selling the 5420sq m site. There are few sites of this size in the built-up suburb which includes the houses at 51-61 Archer Street, 30-32A Bertram Street and 34 Albert Avenue. Knight Frank’s Tim Holtsbaum, Tyler Talbot and Dominic Ong and CBRE’s Ben Wicks, Danny Shi and Tao Shi are handling second-round expressions of interest, with a likely deal to be closed by January — The Australian Financial Review.

MELBOURNE: Canadian giant Brookfield Asset Management has finalised a leasing deal to develop one of Melbourne’s largest towers for National Australia Bank, and sell a half-stake in the $800 million project to superannuation fund-backed group ISPT. NAB has struck a 12-year lease, due to commence in 2021, on the skyscraper to be built at 405 Bourke Street in the heart of Melbourne’s CBD. NAB has committed to occupy at least 43,000sq m with an ­option to expand to occupy all of the available office floors over about 66,000sq m if it requires the space. At the same time, ISPT has agreed to acquire a 50 per cent joint venture interest in the development, in keeping with its desire to buy into major office and retail projects in Sydney and Melbourne — The Australian

CHARTER HALL: A Charter Hall office fund has raised $340 million to develop more towers mostly in the east coast capitals, saying global investors are still keen on Australian assets. The Charter Hall Prime Office Fund completed the raising within eight weeks of launch to fund its development pipeline worth about $1.5 billion, mostly in the eastern seaboard CBD office markets — The Australian.

NSR: Storage centre owner National Storage REIT is buying $102 million of assets with the aim of strengthening its position in NSW, gaining economies of scale and redeveloping some of the centres. The trust announced a $50m institutional placement and a $15m security purchase plan to fund the purchases, and will also draw on its existing debt facilities — The Australian.

PERTH: Sentinel Property Group has continued its march towards a multi-billion dollar property portfolio with the recent acquisition of an industrial facility in Western Australia. The Brisbane-based group has purchased a 18,771 square metre warehouse and office building in Canning Vale, an industrial precinct on the southern edge of Perth — The Urban Developer.