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South Africa’s Growthpoint Pays GPT $50 Million For Canberra Office

SOUTH African backed Growthpoint Properties Australia has paid $50 million for a Canberra office complex fully leased by the federal government.

The 10-12 Mort Street complex (pictured, right), offloaded by the GPT Group, includes two adjoining six-level towers with a total of 15,400 square metres of A-grade space. The AFR, which reported the sale, did not disclose the rent paid by the government or the yield the property sold for.

Over the past three years the trust has acquired $835 million in real estate. It bought four office assets last December for $294 million, and also , three office assets in Brisbane, an office development in Sydney’s Gore Hill Technology Park.
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More Tenants Lease Space at Canberra Centre

MORE tenants have been announced as leasing space within the Majura Park project in Canberra.

Due to open on March 29, the developer, Canberra Airport, has announced Rockmans, Crossroads, Trendbags, Ally Fashion, EB Games, Subway, Michel’s Patisserie, Oporto and Payless shoes have leased space within the $150 million complex.
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Department of Climate Change Leases Space at Canberra Building Owned by ATO

THE Australian Taxation Office will play landlord, leasing a large chunk of a Canberra office building it owns to the Department of Climate Change and Energy Efficiency.

The department will pay nearly $1.3 million per annum to lease 2940 square metres of space at the office, on the corner of Akuna and Bunda streets.

It has leased the space - three levels of the building - for one year and nine months, which assumes the Gillard government will serve its full term.
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Canberra Airport Redevelopment Underway

PLANS to make Canberra Airport “the best small airport in the world” are advancing.

As part of a $420 million redevelopment, a $185 million terminal has started construction.

ACT chief minister Katy Gallagher laid the first stone for the Western Concourse Terminal in early August. The project is due for completion in mid 2012.
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QIC to Develop $350 Million Canberra Complex

QUEENSLAND Investment Corporation will build a $350 million mixed use development in the Canberra city centre.

The proposed development will replace a car park, and include an 11-storey office with 41,500 square metres of space, as well as a 13-level apartment building with some 300 flats. According to the AFR, it will also include a 12,600 square metre shopping centre and more car parking.
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Costco Chooses Canberra For Third Australian Store

COSTCO will open its third Australian outlet in Canberra, and retail giant Woolworths is right behind it.

Costco has chosen the Majura Park shopping centre adjoining the Canberra Airport to open its second NSW store. Majura Park is the new name for the collapsed Airport Brand Depot discount outlet.

Only two stores within the previous shopping centre remain: Toys ‘R’Us and Babies ‘R’Us.

Woolworths has also leased space within the revamped centre, and will open an 8000 square metre Big W, a 400 square metre Dick Smith and a 4800 square metre supermarket.
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Emboss Capital Pays $55 Million For Civic Office, Canberra

EMBOSS Capital has paid $55 million for a Canberra office building – its second major transaction on Australia’s east coast recently.

The A-grade, six-level, 9000 square metre office, in the suburb of Civic, was sold with a long lease to the federal government.

According to the selling agencies, Colliers International and Jones Lang LaSalle, the building sold on a yield of 7.4 per cent.
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Department of Climate Change Leases Major Canberra Office

THE Department of Climate Change and Energy Efficiency has leased a 21,000 square metre office in Canberra, paying a whopping annual rent of between $420 and $450 per square metre.

The government employers will work from picturesque space adjacent to Lake Burley Griffin, at a $550 million development being built by the Molonglo Group on the site of the former Hotel Acton.

The government body’s headquarters will be known as the New Acton Nishi office.

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Major Canberra Housing Proposal Rejected

THE NSW Land & Environment Court has rejected a major development application near the Canberra Airport, which may have helped solve some of the affordability issues of the city.

The 4685-block, 130-hectare Tralee proposal has been fought since 2002 by developer Village Building Corporation, and the Canberra Airport, which has argued residents would be exposed to aircraft noise and complain, if the development went ahead.

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