Centuria pays $256 million for Canberra’s Nishi building

Centuria Metropolitan REIT (CMA) is paying $256 million for the Nishi building, an A-grade commercial complex in Canberra’s gentrifying Civic precinct. The deal, between CMA’s parent Centuria Capital Group (CNI) and developer Molonglo, is being struck on a 5.1 per cent capitalisation rate. CMA fund manager Grant Nichols said the purchase reinforces the Fund’s position

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The Straits Trading Company pays ESR $24 million for Mulgrave business park

Singapore’s listed The Straits Trading Company is paying Hong Kong based global logistics giant ESR $24 million for a Mulgrave business park. The 2.25 hectare L-shaped holding at 677 Springvale Road hit the market in July. It includes seven contemporary buildings with a total lettable area of 12,157 square metres, configured as office warehouses and

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Acumentis the new name for Landmark White

Valuation and advisory firm Landmark White has rebranded as Acumentis. The new name is derived from two Latin words, it described: acumen, meaning insight and sharpness; and mentis, which involves having sound mind, memory and understanding. Australia’s only independent, locally-owned, ASX-listed valuation company – Acumentis had a horrible year, with two data breaches resulting in

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Beacon Lighting sells Parkinson distribution centre to Charter Hall on a leaseback

Charter Hall Direct Industrial Fund No 4 (DIF4) is paying ASX-listed Beacon Lighting $28 million for an ex-Masters store turned distribution centre in Brisbane’s south Parkinson. The 58 Precinct Street deal is being struck on a 5.38 per cent passing yield. Purpose-built for Woolworths Limited’s failed hardware business five years ago, the property was re

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Caltex sells portfolio of 25 service stations for $136 million, or $92 million after costs

Caltex – whose management last week rejected a takeover bid from Quebec’s Alimentation Couche-Tard, saying the $A34.50 per share offer under-valued the company – has sold a portfolio of 25 Australian service stations, for $136 million. The sites were identified as having a highest-and-best use outside of selling petrol. Targeted to residential developers, the properties

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Sector Property Group to bring inner-city glam to one of Huntingdale’s largest commercial sites

Sector Property Group has snapped up one of Huntingdale’s biggest commercial sites with plans to create a premium quality office and warehouse complex, which will be subdivided and offered for sale or lease. The first pieces of the former Acoustic Engineering Services (AES) headquarters at 26-28 Hargreaves Street – two large and high-quality warehouses –

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The Block producer Julian Cress pockets $1.71 million from adjoining Gatwick apartment shells

One buyer has snared two adjoining apartment shells on the ground floor of St Kilda’s Gatwick Private Hotel – the subject of last year’s reality renovation television series, The Block. The $1.71 million deal was struck after a public auction on Saturday where the two unrenovated flats passed in for $1.62 million. When the units

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Neighbours fan spends $1.41 million for ’28 Ramsay Street’ – in Melbourne’s Vermont South

A nondescript brick home in a Melbourne court beamed around the world in TV show Neighbours as Ramsay Street, Erinsborough, sold for $1.405 million before a large crowd at auction yesterday. The $1.2855 million opening bid for 5 Pin Oak Court, Vermont South, exceeded the reserve. With the four bedroom dwelling on the market, two

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“Ultimate Camberwell landholding” sells for $10.05 million on a 23 day settlement

A cash buyer outbid numerous other investors to snare an enormous land holding in the South Camberwell retail village. The unique site – six adjoining retail and commercial freeholds – sold for $10.05 million against $9.5 million price hopes. The incoming owner offered a (short) 23 day settlement. Covering 398-410 Burke Road, near the north

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ICD Property to build 35-storey tower as part of $400 million Central Market Arcade redevelopment

City of Adelaide has appointed ICD Property as partner for the $400 million Central Market Arcade redevelopment. Council held a two year long global expressions of interest campaign before appointing the Melbourne-based builder. The Adelaide CBD project will include a 35-storey tower with retail and residential components. Two office buildings, of 13 and 16 levels,

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Heidelberg block permit ready for eight storeys trades for $11.4 million

A permit-ready development site in Melbourne’s north east Heidelberg sold for $11.4 million this week. The incoming owner, a local developer, snapped up 104-120 Mount Street (pictured, bottom, highlighted) on a 30 day settlement. With plans for an eight-level complex comprising offices and 120 apartments (pictured, top), the 2376 square metre holding was offloaded by

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Scentre pays $575 million for half-share of Booragoon’s Garden City Shopping Centre – and rebrands it a Westfield

Scentre Group is paying AMP Capital Diversified Property Fund (ADPF) $575 million for a half share, and the management rights, of the Garden City Shopping Centre in Booragoon, about 14 kilometres west of the Perth CBD. The deal, negotiated by AMP Capital for the Fund – which will retain the other half – is the

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Steller receivers sell Caulfield South childcare centre site mid-construction

Steller receivers have sold a high-profile corner site in Caulfield South, permit-ready for a state-of-the-art childcare centre. The 1328 square metre holding comprising 1036 Glen Huntly Road and 1A Laura Street is trading for $4.71 million. Steller paid $4.3 million for what was two neighbouring standalone homes last year, before pushing through the redevelopment application.

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Marks Henderson outlays $92.75 million for Darlinghurst warehouse-converted-office

Marks Henderson is spending $92.75 million on a high-character warehouse-converted-office in Sydney’s inner east Darlinghurst. The deal for 19A Boundary Street with vendor Haben Property Fund is being struck on a 4.7 per cent passing yield. It values every square metre of lettable area at $14,300. A trophy asset The seven-storey complex with ground floor

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GWA signs, resets leases, for three Charter Hall warehouses on Australia’s east coast

EXCLUSIVE One hand is washing the other – metaphorically – following a unique agreement between Charter Hall and GWA Group Ltd – the producer and distributor of Caroma tap wear. Charter Hall has committed and reset leases with GWA for three office warehouse facilities, in Sydney, Melbourne and Brisbane, containing a total area of 51,982

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Grocon spending c$135 million on Nick Theodossi’s high-profile North Melbourne holdings

Luxury car dealer Nick Theodossi has found a buyer for a North Melbourne super-site opposite one of five underground train stations being constructed as part of the $11 billion Metro Tunnel project. Grocon, with the financial backing of GIC, formerly known as Government of Singapore Investment Corporation, is in due diligence for the properties –

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