Deals of the Week: 7 June 2019

Deals of the Week: 7 June 2019

BRISBANE: Co-working giant WeWork has expanded its east coast presence after signing a major long-term lease in the Brisbane CBD. The American company has agreed to occupy 4600 square metres at 260 Queen Street,  a 13,000-square-metre office tower owned by international real estate firm Hines.—AFR.

GOSFORD: Coles and ISPT have sold a neighbourhood shopping centre at West Gosford for $23 million to Mintus as the private investor continues to grow its property portfolio. The single-level shopping centre at 269-299 Brisbane Water Drive, West Gosford, is a 17,600-square-metre site with a gross lettable area of 9250 sq m and anchored by Coles and Liquorland.—AFR.

MELBOURNE: A group of strata unit owners has joined forces to sell their assets in one line to a Chinese developer for $14.1million. The eight units on the 2,061sqm landholding at 12-16 Shipley Street in Box Hill have been acquired by a number of families since 1985.—Savills.

SYDNEY: Elanor Investors Group and its investment partner Atlas Advisors have settled the purchase of the Fairfield sub-regional shopping centre Neeta City for $85.3 million. Elanor and Atlas form the Fairfield Centre Syndicate, which acquired the property in March. Atlas is a private equity firm backed by Chinese high net worth investors, particularly holders of significant investor visas.—AFR.

MELBOURNE: The APN Industria REIT has purchased a leased warehouse in Kilsyth in Melbourne’s east for $9.5 million. The 2.3-hectare site at 147-153 Canterbury Road, Kilsyth, has been leased to door manufacturer B&D Australia for 45 years. The property has a weighted average lease expiry of 2.6 years.—AFR.

BRISBANE: Mining company Queensland Coal Investments, a wholly-owned subsidiary of Hancock Prospecting, has signed a new five-year lease over 238 square metres of office space at 500 Queen Street in the Brisbane CBD. Queensland Coal is relocating to the refurbished A-grade tower from 82 Eagle Street. It has a new foyer and lift lobby and new hotel-style end of trip facilities. Colliers International’s Andrea Cano negotiated the lease at level 14 at an annual rent of $595 a square metre.—AFR.