Deals of the Week: 23 February 2018

Deals of the Week: 23 February 2018

Brisbane: Melbourne investor James Zhang has bought Marketplace Deagon, a neighbourhood shopping centre in Brisbane’s northern suburbs for $23.3 million. Mr Zhang’s Bao Li Hai International Investment Pty Ltd acquired the 2374 square metre mall at 55 Braun Street, anchored by a Prince’s Supa IGA supermarket and five mini-majors including The Reject Shop, on a yield of 6.95 per cent.—AFR.

Sydney: Private investor Marks Henderson has purchased a commercial building adjacent to the Sirius building in Sydney’s Rocks area for $56 million. The purchase of 88 Cumberland Street on a sub-5 per cent yield is the fourth by Melbourne-based Marks Henderson since it began buying office buildings five years ago.—AFR.

Sydney: The Mah family have bought a $90.8 million complex opposite Hyde Park at 299 Elizabeth Street. The property abuts their adjoining holding of 287 Elizabeth Street, giving them a commanding position on the Hyde Park boulevard. The complex consists of about 5,974sq m of space, including a ground-floor retail space and office space from levels 1-11. It complements the 12-storey, B-grade building at No 287, and a longer-term redevelopment could include both towers.—The Australian.

Fraser Island: Ferry operator SeaLink Travel Group has swooped on Fraser Island’s Kingfisher Bay Resort Group some eight years after it was first listed, buying the resort and its marine operations for $43 million. The deal builds on the Adelaide-based SeaLink’s existing Queensland operations including servicing Magnetic Island and Palm Island from Townsville, the LNG Plants on Curtis Island from Gladstone, as well as North Stradbroke Island and the islands of Moreton Bay.—The Australian.

Melbourne: Stockland, which released strong interim results on Wednesday, is selling its Woolworths-anchored neighbourhood mall in its Highlands community in Craigieburn with price expectations of about $40 million.—AFR.