Deals of the Week: 16 March 2018

Deals of the Week: 16 March 2018

Sunshine Coast: Construction firm John Holland Group has been awarded a $225 million contract to build a key piece of the Sunshine Coast Airport expansion. The firm, has been tasked with building a new 2,450m runway capable of handling aircraft up to the size of an Airbus A330 or Boeing 787. The expansion is expected to create 2,200 jobs on the Coast and return $4.1 billion to its economy in the next 20 years.—Sunshine Coast Daily.

 

Gold Coast: Melbourne-based SB&G Hotel Group has snapped up two Watermark hotels in southeast Queensland from Japanese-owned HIS Co in a deal worth about $100 million. The hotels are the first Queensland properties for the company as it aims for a target of $1 billion in assets. The larger property, Watermark Hotel & Spa Gold Coast, has 388 rooms while Watermark Hotel Brisbane has 94 rooms. The two will keep operating under the Watermark brand in the short term.—The Australian.

 

Sydney: Logistics property specialist Logos Australia has acquired a massive 4.4-hectare warehouse site in Sydney’s south for $72.4 million in an off-market sale. The recently purchased site was originally owned by a syndicate of 22 private owners who reportedly bought the site for $26.2 million in 2008. Logos launched a $500 million industrial and logistics fund earlier this year to purchase high quality logistics facilities in prime industrial markets, predominantly along Australia’s eastern seaboard.—The Urban Developer.

 

Sydney: A Sydney high net worth investor has snapped up a 1.3-hectare industrial site fully-leased to Veolia Environmental Services for $20.9 million. The prime investment at Military Road, Matraville, in Sydney’s south near Port Botany, has a long weighted average lease expiry of 19.66 years and a net annual income of $1.03 million. The property sold on a 4.92 per cent passing yield. The 1.3-hectare site is has a long-term potential for multi-level industrial or strata development.—AFR.

 

Melbourne: Two childcare centres in Melbourne have sold for about $12 million. Private investors have traded the property leased to Little Seeds Early Learning for 15 years, with options at 519 Melbourne Road, Newport in Melbourne, for $8.1 million. Elsewhere, private group Four Properties’ Salvatore Cullia sold a 1,032 square metre childcare centre at 3 Nexus Street, Ravenhall to a private buyer for $3.88 million at auction.—AFR.