Deals of the Week: 16 February 2018

Deals of the Week: 16 February 2018

16 February 2018

Sydney: Long-term private owners have sold two prime commercial buildings in George Street, Sydney, for $94 million. Private Singaporean investors bought the properties in an off-market sale with plans to hold the buildings before developing the sites into mixed-use projects, likely to be a combination of hotels and apartments. The buildings, opposite Event Cinemas, have not traded for more than 30 years.—AFR.

Sydney: Goodman Group has snapped up two vacant office buildings at 58 Waterloo Road, Macquarie Park in Sydney’s north for $40.5 million. The two buildings sit on a 1.13-hectare site and come with 50 car spaces and a separate on-grade car park for 70 vehicles.—AFR.

Wollongong: GPT Group’s Wholesale Shopping Centre Fund is selling Wollongong Central, with price expectations around the $500 million-mark. The sale will also include the rights to manage the landmark CBD shopping centre. Wollongong Central sports a David Jones, Target, Coles, 14 mini-majors and over 170 specialty stores with a gross lettable area of 54,600 square metres.—The Urban Developer.

Melbourne: Charter Hall’s $600 million Wesley Place office tower in Melbourne’s CBD has secured financial services powerhouse Vanguard as a new tenant. The Charter Hall Prime Office Fund has won a 10-year commitment from Vanguard for about 10,500 square meters across six floors, taking its committed net lettable area to about 55 per cent. Other tenants will include Telstra Super, Cbus Super, Wesley Mission Victoria and the Uniting Church in Australia.—The Australian.

Melbourne: GPT Group has bought a major logistics holding in Melbourne’s tightly held western suburbs, paying $74 million for a printing facility in the suburb of Sunshine. GPT picked up the property, comprised of four buildings, as it looks to add to its $1.5 billion logistics portfolio it has grown mainly via development and re-signing existing tenants.—The Australian.