Deals of the Week: 21 December 2018

Deals of the Week: 21 December 2018

PERTH: Charter Hall Group will buy Coca-Cola Amatil’s main production facility in Western Australia in a $45.25 million deal on a yield of about 6 per cent that includes a 15-year leaseback, the company announced on Thursday. The 4.3-hectare property in the Perth suburb and prime industrial precinct of Kewdale, will be owned as a joint venture between Charter Hall Prime Industrial Fund and Charter Hall Core Logistics Partnership.—AFR.

TOWNSVILLE: Real estate investor and manager Cromwell Property Group has purchased the Energy Queensland headquarters in Townsville in north Queensland for $63.5 million. The A-grade office building at 420 Flinders Street, Townsville, will go into Cromwell’s Direct Property Fund, which has nine office, retail, and industrial properties across Queensland, Victoria, South Australia and the ACT.—AFR.

NSW: US private equity giant Blackstone has snapped up Hong Kong investment management firm PAG’s half-share of the A-grade tower at 60 Margaret Street in the Sydney CBD for $420 million. Meanwhile, the company has sold the Figtree Grove shopping centre in Wollongong to Singapore’s SPH REIT and Moelis Australia for $206 million.—AFR

SYDNEY: M&G Real Estate, the real estate fund management arm of UK-based M&G Investments, has acquired a 25 per cent stake in the North Sydney office building, “Coca Cola Place” for $109.5 million. The sale represents half of owner South Korea’s National Pension Service’s stake in the building, which has been for sale since November, along with the pension fund’s other asset, Melbourne’s 595 Collins Street.—AFR.

VICTORIA: Property fund manager MPG has snapped up a state government-tenanted office building in Traralgon in Victoria’s Latrobe Valley for $11.8 million for its unlisted regional property fund. In an off-market deal MPG acquired 8-12 Seymour Street, a 2,742sq m building tenanted by the Department of Health and Human Services and Environmental Protection Authority Victoria on a yield of 7.35 per cent.—AFR.

MELBOURNE: Melbourne residential developer Holder East has snapped up a block of prime development sites in the Melbourne CBD with plans for an office and hotel project as it shores up against a slow apartment market. The group emerged as the buyer of three sites that make up a prominent 927-square-metre corner landholding at the junction of Queen and Franklin streets, close to the Queen Victoria Market, for just over $21 million. It is understood the developer will put up an office and hotel project at the site.—AFR.