Deals of the Week: 20 October 2017

Deals of the Week: 20 October 2017

20 October 2017

BRISBANE: Australian Unity Office Fund has struck a deal to buy an office tower in the Brisbane CBD from Singaporean fund manager TrustCapital Advisors for $105.75 million. The tower at 150 Charlotte Street is fully occupied with a 5.7-year average lease expiry. The bulk of the tower’s income comes from Boeing Defence Australia and the Commonwealth government — AFR.

BRISBANE: Avenues Early Learning is selling a portfolio of childcare centres in Brisbane that could fetch as much as $102 million and provide a crucial indicator for the demand and values of childcare centres in Australia. There have been some big deals in the last 12 months in the childcare space with Arena REIT striking a $65 million deal in July with Green Leaves Early Learning Centres and Melbourne’s billionaire Besen family taking a stake in Mayfield Childcare, which made its debut on the ASX late last year — AFR.

SYDNEY: NBN Co, the builder of Australia’s National Broadband Network, has committed to a brand new headquarters in North Sydney at a cost of more than $150 million. The internet provider will take just under half (48 per cent) of the 35-storey building, being constructed by Dexus and the Dexus Wholesale Property Fund, as the joint owners —The Sydney Morning Herald.

SYDNEY: Led by property veteran Greg Paramor, fund manager Folkestone is buying into the hospitality boom, snapping up a Sydney airport hotel for $76.4 million. The acquisition of the Mercure Sydney International Airport Hotel is the largest single deal yet for Folkestone, which has launched a new fund to hold the asset — AFR.

MELBOURNE: Nissan Australia has sold its Melbourne headquarters at Dandenong South for about $35 million to a syndicate of local investors. The syndicate acquired the site on long settlement terms, allowing Nissan time to find a new Melbourne head office — AFR.