Deals of the week: 4 August 2017

Deals of the week: 4 August 2017

4 August 2017

SYDNEY: The $148 billion Future Fund, along with co-investors Victoria Funds Management and Funds SA, is preparing to sell a 15,500 square metre office tower at 9 Hunter Street Sydney for more than $200 million. The property is one of only 15 A-Grade office towers held in 100 per cent ownership in the core market and one of five towers under a value $350 million — AFR.

SYDNEY: An off-market deal has seen Goodman Group sell a recently completed Macquarie Park office building to a wealthy local investor for $95.3 million. The 12,000-square-metre, six-level building at 8 Khartoum Road has Fuji Xerox and sister company Fuji Film as its main tenants until 2027. Macquarie Park is Sydney’s second largest business district. Goodman is the dominant owner in the precinct with 15 business parks —AFR.

MELBOURNE: In a busy week of deals in Melbourne, GPT Group has paid a record $680 million for a 25 per cent share of one of Australia’s largest malls, Highpoint Shopping Centre, located in Melbourne’s west. The deal was struck on a record 4.2 per cent yield, the lowest ever paid in the history of Australia shopping centre transactions — AFR.

MELBOURNE: Charter Hall has snapped up a 12,700-square-metre, seven-level office building at 990 La Trobe Street Melbourne for $114.5 million. The deal will give the $3.5 billion unlisted fund a high-profile property in Melbourne’s Docklands precinct in a tightening office property market — Sydney Morning Herald.

MELBOURNE: Developer and investor Mirvac has sold a half-stake in its 477 Collins Street office site in Melbourne’s CBD to Singapore-listed Suntec REIT for $414 million. The Melbourne deal achieved a capitalisation rate of 4.8 per cent, setting a benchmark for future deals in the city— The Australian.

MELBOURNE: Private, family-owned developer The Deague Group has acquired a 4,000 square metre site in South Melbourne for a 7-level, $24.65 million with approval for a 15,000 square metre office building valued at $150 million. The building will include a reflection garden, gym, and a handful of hotel rooms — AFR.