Deals of the Week: 18 January 2019

Deals of the Week: 18 January 2019

SYDNEY: Commercial property fund manager Charter Hall has bought and settled on two office buildings in Sydney’s King Street Wharf precinct in a massive $804 million deal. The transaction, which occurred quietly just before Christmas, turned out to be one of the biggest deals of 2018 and brings Charter Hall’s total office assets to just under $13 billion.—AFR.

SYDNEY: Veteran village operator Paul Browne has purchased arguably the most desired retirement village in Australia, The Landings, in the prestigious suburb of North Turramurra on Sydney’s Upper North Shore. He wrapped up the deal via a 50/50 partnership with the Brisbane-based ASX-listed Cromwell Property Group, under their joint LDK Healthcare brand. They take over mid-February. The Landings consists of 220 villas and apartments priced around the $1.5 million mark.—The Source.

NSW: Adding to a strong start to the summer rural selling season, the TRT Pastoral Company has sold 33,000 hectares of prime grazing land fronting the Murrumbidgee River in NSW’s Southern Riverina for about $60 million. The two stations, which have a 55-kilometre frontage to the Murrumbidgee River, are backgrounding properties for up to 10,000 beef cattle.—AFR.

MELBOURNE: Chinese-backed developer Longriver has leapt out of the blocks in 2019, snapping up the “Queens Collection,” a major corner site in the Melbourne CBD for almost $26 million. The deal was struck on a yield of 2.3 per cent and at a land rate of almost $35,000 per square metre, a record for this part of the Melbourne CBD, according to selling agents CBRE.—AFR.

MELBOURNE: Takeover target Healthscope has sold its vacant Cotham Private Hospital in Melbourne’s eastern suburbs to residential developer Hamton for about $10 million. The hospital, which closed in June last year, stands on a prime 2245-square-metre corner site in Kew, about 10 kilometres east of the centre of Melbourne.—AFR.