Deals of the Week: 18 May 2018

Deals of the Week: 18 May 2018

Melbourne: Melbourne-based fund manager Vantage Property Investments has cashed in on the rising heat in suburban office markets with two off-market sales for a combined sale price of $24.5 million. Both assets, in Mulgrave and Box Hill, were held in Vantage’s Diversified Portfolio Number Two, which was set up in 2012 to take advantage of market conditions at the time and acquire office assets at below replacement cost. The Australian Financial Review

Cooma: A private investor has purchased a 4858 sq m Caltex service station at 2 Geebung Street, Cooma in NSW’s Snowy Mountains for $1.8 million. Seller Peter Nassar sold the property, leased to Petro Oz Pty Ltd, on a yield of 7.5 per cent. The Australian Financial Review

Melbourne: Legendary Swiss watchmaker Longines has chosen Melbourne’s Collins Street as the location for its flagship Australian store. Longines, which is part of the Swatch Group, has a struck a $750,000-a-year leasing deal to occupy 256 Collins Street, a narrow, four-storey 1950s building next door to luxury mall St Collins Lane. The Australian Financial Review

Brisbane: Property giant Dexus has purchased the Audi Centre and the Euro Marque complex in Fortitude Valley in Brisbane’s inner north. Dexus has paid $91.2 million for the property located at 570-586 Wickham Street, realising an initial 6 per cent yield. The Urban Developer

Brisbane: The listed Charter Hall Group has added to the surge of capital into Brisbane’s office tower market with the purchase on a building in Albert Street for $108 million. The group’s purchase of 343 Albert Street comes hot on the heals of Charter Hall’s $350m acquisition of the Santos Place in Brisbane, also for the GIC mandate. The Australian