Deals of the Week: 21 June 2019

Deals of the Week: 21 June 2019

SYDNEY: Oxford Properties has reaped $1.1 billion so far in an extensive divestment of office towers from the holdings of the formerly listed Investa Office Fund after it was bought out by the Canadian giant last year. The Canadians have just two properties left in play after earmarking a $1.8 billion group of assets to carve out and sell out of the Investa fund’s $4.3 billion portfolio.—AFR.

SYDNEY: A local High Net worth Individual (HNWI) has purchased a vacant three storey office building in the Sydney CBD for $16 million from the Shanghai based Dahua Group. 25 King Street which is on the corner of King and Sussex Street has a Net Lettable Area (NLA) of 969sqm and sits on a 278sqm site. The building’s façade is heritage listed and was sold by Andy Hu and Jordan Lee of Savills Australia.

BRISBANE: Law firm Mills Oakley will relocate to the top floor at 66 Eagle Street in the Brisbane CBD after committing to a new 10-year lease over 1460sq m of office space. The 23rd floor offers views of the Brisbane River and the CBD, and features a high-quality fitout. Colliers International’s Joseph Dean and Kelly Moon negotiated for landlords APPF Commercial and Harina while Rylatt Leasing’s Roland Dean represented the tenant.—AFR.

MELBOURNE: Melbourne real estate agent Tony Tai has earned a big pay day after selling a three-level office building in the city centre he co-owned for almost seven times more than what it last sold for 15 years ago. The 1980s-built brick and concrete office building at 212 King Street sold for $21 million to a private investor having last sold for $3.2 million in 2004 when it was bought by New World Property Group.—AFR.

ADELAIDE: A Melbourne-based syndicate has bulked up its retail property portfolio after buying a recently built Bunnings warehouse in Victor Harbor, south of Adelaide, for $21.3 million. The 10,000 square metre DIY warehouse, which opened last year next to a new Coles supermarket on Adelaide Road, sold on a yield of 5.13 per cent.—AFR.