Deals of the Week: 26 July 2019

Deals of the Week: 26 July 2019

SYDNEY: Insurance company Australian Unity has purchased a newly constructed manufacturing industrial facility in Brisbane’s Brendale for $8.114 million at an initial yield of 6.6 per cent from SWC Management.—AFR.

MELBOURNE: Big industrial sites are in favour after a private local developer paid $11 million for a 5.4-hectare property at 2-8 James Street, Laverton in Melbourne. The new owner intends to develop several speculatively-built warehouses.—AFR.

MELBOURNE: A Taiwanese investor has bought a three-level, 328sq m building on the corner of Lonsdale Street and Heffernan Lane in Melbourne’s CBD for $8.1 million at auction. It sold for $2 million over the reserve price. The building is home to long-term tenant Greek restaurant Tsindos.—AFR.

ADELAIDE: Centuria Capital Group has pounced on an A-grade office and carpark property in the Adelaide CBD for $127 million, a passing yield of 6.1 per cent. The property, previously owned by Lendlease’s Australian Prime Property Fund Commercial, far exceeded the original price expectations of about $115 million.—AFR.

PERTH: West Australian property fund manager, Realside, has acquired the high-profile mixed-use retail and office complex The Colonnade in Perth’s Subiaco for $37.85 million. The pursuit of Perth assets is considered a good counter-cyclical move for investors, the selling agents say. It also offers higher returns compared to Sydney and Melbourne commercial assets.—AFR.