Deals of the Week: 5 April 2019

Deals of the Week: 5 April 2019

NOOSA: A Melbourne based investor has swooped on a popular Noosa Junction retail strip, the ‘Oasis Centre,’ for $6.8 million. The 1,518-square-metre complex comprises 10 retail and office tenancies across two buildings and 15 car parking spaces. The sale price translated to a yield of 5.2 per cent and a building rate of almost $9,000 per square metre.—CBRE.

BRISBANE: Fund manager Exceed Capital has bought a homemaker centre in Stockland’s North Lakes community in Brisbane’s northern suburbs for $21.5 million. The deal to acquire the 8000-square-metre Style Centre on a 1.83-hectare site at 4-6 Burke Crescent was struck on a relatively high yield of 8.15 per cent.—AFR.

SYDNEY: Singapore’s Ascott REIT has lifted its Australian hotel portfolio to over 900 rooms after buying the 150-room Felix Hotel at Sydney Airport for $60.6 million. Its sale to Ascott will increase the Singaporean hospitality trust’s Australian portfolio to six properties and give it two hotels at Sydney Airport.—AFR.

MELBOURNE: Frasers Logistics & Industrial Trust has sold its logistics facility at South Park Drive, Dandenong South in Melbourne to Enborne for $17.25 million. The sale was struck at a 13.1 per cent premium to the property’s book value of $15.25 million at September 2018 and a 4.5 per cent premium to the original purchase price of $16.5 million.—AFR.

PERTH: Perth-based RG Property has swooped on a five-level office building West Perth for $20.3 million. The building at 76 Kings Park Road is adjacent to Perth’s Kings Park and Botanic Gardens and anchored by a lease to DownUnder GeoSolutions. It was acquired by on a yield of 7.2 per cent.—AFR.