Deals of the Week: 6 April 2018

Deals of the Week: 6 April 2018

6 April 2018

Sydney: AMP Capital has begun constructing the landmark Quay Quarter Tower in downtown Sydney after locking in investment into one third of the $2.7 billion project from super fund Rest.—AFR

Brisbane: Australia’s largest owner of childcare centres, Folkestone Education Trust, has purchased a portfolio of nine Brisbane childcare centres in a $63.2 million sale-and-leaseback deal with private operator Avenues Childcare. The nine properties acquired are located in the suburbs of Aspley, Carina, Jindalee, McDowall, Parkinson, Sunnybank, Shailer Park, Paddington and Norman Park. All sold with a 20-year leaseback agreement to the family-owned operator.—AFR.

Sydney: Sydney-based fund manger Aviator Capital has snapped up a Lane Cove office and warehouse asset in Sydney’s lower north shore for $28.075 million. The property was sold by Sydney-based co-owners, property investor, Bricktop and property development and Investment company Trumen Corp. The two owners bought the property in 2014 for $16.875 million, earning themselves $12 million in four years.—AFR.

Sydney: Chinese-backed property developer Greaton Group has swooped on a site in Sydney’s Haymarket in a deal worth about $146 million. Greaton picked up the site, at 187 Thomas Street, from union group United Voice and is likely to build an apartment tower. The project will add to its $1.3 billion portfolio of projects in Sydney and in Adelaide, where it first entered Australia.—The Australian.

Melbourne: Property group Charter Hall is expanding its industrial and logistics arms, with the locally listed group snapping up a major land bank at Truganina in Melbourne’s western industrial suburbs. The wholesale Charter Hall Prime Industrial Fund will develop a $330 million estate on the 58ha site in Melbourne’s prime Laverton and Truganina industrial precinct. The property was acquired from two Singaporean investors for $55.35m and adds to the group’s land bank in Melbourne’s west.—The Australian.

Melbourne: The Law Institute of Victoria has sold its long-term Melbourne CBD headquarters at 470 Bourke Street for more than $30 million to a private investor. The nine-storey office building has a net lettable area of 3,339 square metres. The underlying land area is 916 square metres with dual street frontages to Bourke Street and Little Bourke Street with direct access to the prestigious Melbourne legal precinct. The institute paid $1.5 million for the Bourke Street property in the mid-1970s.—The Urban Developer.

Melbourne: ASX-listed residential property developer Villa World is planning a 273-lot subdivision in one of Melbourne’s newest suburbs, Plumpton in the capital’s north-western growth corridor.—AFR