Deals of the Week: 5 July 2019

Deals of the Week: 5 July 2019

BRISBANE: 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. The property at 133 South Pine Road was sold with a 10-year leaseback to SWC. CBRE’s Hugh Adnam, Dillon Murphy and Edward Bull negotiated the sale.—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. As foreshadowed by the Australian Financial Review in MayRealside scooped up the 8175sq m property at 388 Hay Street from Perth long-term investor Hawaiian following a long expressions of interest sale campaign.—AFR.

SYDNEY: Fund manager Sumner Capital has found a buyer for its historic office building at The Rocks in Sydney, clinching $21.05 million for 117 Harrington Street. Sumner has sold its leasehold interest in the building to Terraform Capital, a group which focuses on real estate funds management, hospitality and co-working properties and has operations in Hong Kong and Sydney.—AFR.

MELBOURNE: Dexus has struck almost 50,000 square metres of new industrial leases with Coles, Dunlop and freight company Secon at its Truganina estate in Melbourne’s west as retailers and third-party logistics groups seek to optimise their supply chains and deliver goods more quickly to customers.—AFR.

SYDNEY: Singapore’s Frasers Logistics & Industrial Trust has scooped another three industrial properties on the Australian eastern seaboard for $125.5 million. Among the properties is the FDM Warehousing facility in the Eastern Creek Business Park in Sydney’s west. It is the biggest asset of the three at 32,894 square metres and it was acquired for $65.5 million.—AFR.

TOOWOOMBA: One of the largest commercial office assets in Toowoomba has changed hands after being snapped up by a local family following a strong sales campaign. The nine-level building at 10 Russell Street, known as the Easternwell Centre, was purchased by Bernoth Properties, a local Toowoomba family with significant property holdings in the region, for $10.5 million. The property was sold by Quadra Pacific; it was the third and final Australian asset recently divested by the Canadian Investor, following the sale of 133 Mary Street and 288 Edward Street in the Brisbane CBD.—Knight Frank.