Deals of the Week: 17 November 2017

Deals of the Week: 17 November 2017

CENTRAL COAST: The unfinished Australian Taxation Office building complex in Gosford in Sydney’s central coast has sold for about $47 million. The 7,380-square metre office building and a two-storey heritage building at 99 Georgiana Terrace and 38 Mann Street were due to complete this month, but have been snapped up by an investor prior to completion. Details of the buyer are unknown — AFR.

MELBOURNE: Chinese investors have bought two sites in Melbourne’s west and southeast for a combined $70 million as Chinese capital flees the riskier apartment market. In the bigger of the two deals, a permit-ready 30-hectare site known as Botanic Drive, adjacent to the Cranbourne Royal Botanic Gardens, has changed hands for $42 million, well above market expectations of $30 million-plus — AFR.

MELBOURNE: Rich list property developer Tim Gurner has cashed in on the sale of his lavish Toorak mansion. The towering three-storey home on 1,204 square metres changed hands recently having been advertised for $8.3-$9.1 million. Corelogic reports that the Christopher Doyle-designed house last changed hands in 2014 for $5.3 million — Herald Sun.

BUSSELTON: Canadian-based Ontario Teachers’ Pension Plan has pounced on one of Australia’s biggest avocado orchards, the 360-hectare Jasper Farms near Busselton. The deal worth just under $180 million makes the property the most expensive farm land in Australia. The farm produces up to a million trays of avocados a year with each tray weighing 5.5 kilograms selling for up to $62 a tray — AFR.

PERTH: The Future Fund and the Canada Pension Plan Investment Board have sold their 50 per cent stake in the Rockingham Shopping Centre south of Perth to AMP Capital for about $300 million, as part of a broader deal to sell $500 million of shopping centres. The 50 per cent stake deal highlights the frenetic pace of Australia’s retail centre reshuffle, which included a deal last week between Australia’s second- largest shopping centre landlord Vicinity, and Singapore’s GIC — AFR.