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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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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Centuria Property Funds Limited sells Parramatta office to SC Capital Partners for $105.3 million

EXCLUSIVE Centuria Property Funds Limited has sold a Parramatta office at 2-10 Wentworth Street to Singapore’s SC Capital Partners, banking $105.3 million. The property was the sole asset in the unlisted Centuria 2 Wentworth Street Fund, which was closed-end with a five year term. CPFL – a subsidiary of the ASX-listed Centuria Capital Group (CNI)

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ASICS Oceania calls in local sports stars to open landmark Marsden Park HQ

Sportswear giant ASICS Oceania called in several high-profile sponsors to open its landmark Australian headquarters at Marsden Park, about 50 kilometres north west of the Sydney CBD. Rugby stars Cooper Cronk and Kurtley Beale, with tennis player Stam Stosur, netballer Caitlin Bassett, high-jumper Brandon Starc, and senior ASICS executives, unveiled the 5.7 hectare Richmond Road

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Charter Hall Direct PFA Fund sells Parramatta office for a headline $64.25 million

EXCLUSIVE Charter Hall’s Direct PFA Fund has sold a Parramatta office to a private investor for $64.25 million – or $62.6 million once outstanding lease incentives are deducted. The Sydney-based fund manager and developer, which has embarked on a spending spree which may be the hallmark of the commercial property sector this year – said

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Stockland, AIMS APAC REIT, secure Optus HQ at Macquarie Park for 12 more years

EXCLUSIVE Optus has signed a 12 year lease renewal for its landmark campus-style headquarters in Sydney’s north. The landlords, ASX-listed Stockland and joint venture partner, AIMS APAC REIT (AA REIT), which is listed on the Singapore Exchange, will undertake property upgrade works, as part of the deal. The Macquarie Park campus in North Ryde, known

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Singapore’s First Sponsor partners with ICD Property to redevelop Sydney’s 125-year old City Tattersalls Club

ICD Property has formed a joint venture partnership with Singapore’s listed First Sponsor to redevelop the City Tattersalls Club in the Sydney CBD. ICD was only given the green light for its $200 million proposal 10 days ago. The holding, 194-204 Pitt Street, is near the city’s Westfield Pitt Street Mall – a block from

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Veriu pre-commits to four Australian hotels for its Punthill brand – three in Melbourne

Boutique hotelier Veriu has pre-committed to four venues on Australia’s east coast – a move which will grow its burgeoning portfolio by 235 rooms. With each development, the land-owner will cover hotel construction costs. Upon completion, in 2021, all will be leased long-term to Veriu for its Punthill brand. The landlords would then have the

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Germany’s Spezialfonds pays c$350 million on a fund-through agreement for North Sydney office

CBRE Global Investors – on behalf of German real estate fund Spezialfonds – is acquiring a North Sydney office for a speculated $350 million on a fund-through basis. Being developed by Zurich Insurance Group, which will also be a major occupier, 118 Mount street (pictured, above and right) is due for completion at the end

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Moelis Australia snaps up Byron Bay’s Beach Hotel for just over $100 million

Moelis Australia, which is directed by Sydney Swans chairman Andrew Pridham, is paying Melbourne-based Impact Investment Group (IIG) – a real estate investment vehicle of the wealthy Liberman family – just over $100 million for Byron Bay’s landmark Beach Hotel. The deal includes the property at 2-10 Bay Street as well as the business, which

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Stockland spends $121 million on neighbouring North Sydney offices to create super-site

Stockland is paying $121 million for two North Sydney offices adjacent to another it owns at 110 Walker Street (pictured, top). The acquisitions of 118 Walker Street and 122 Walker Street more than double the ASX-listed property giant’s landholding to nearly 2300 square metres. The developer said it plans to soon lodge an application to

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Charter Hall pays John Holland $331.3 million for The Glasshouse building in Sydney’s Macquarie Park

Charter Hall is continuing a national spending spree – outlaying $331.3 million for a suburban Sydney office majority leased to the New South Wales Department of Transport. The Glasshouse, or Building C of the Macquarie Square business park (artist’s impression, below), is due for completion next March. Charter Hall’s Long WALE REIT will control a

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Withers family banks $77.9 million from sale of 15 7-Eleven outlets

Melbourne’s Withers family today sold a national portfolio of 7-Eleven outlets for a total of $77.915 million. The 15 properties, offered as sale and leaseback investments with starting 12 year terms, exchanged on passing yields of between 3.82-6.07 per cent. An outlet in Melbourne’s northern suburb of Campbellfield was the most valuable – trading for

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John Singleton and Geoff Dixon list Balmain’s Unity Hall Hotel – the birthplace of the Australian Labor Party

Media mogul John Singleton and former Qantas boss Geoff Dixon, via their Australian Pub Fund, are selling the Balmain building where the Australian Labor Party’s first meeting was held. Unity Hall Hotel is expected to sell for about $25 million. The pair, with Mark Carnegie, paid $10 million for the complex in 2011, shortly after

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Fortius picks up Cammeray Square from Stockland for $39.05 million

Stockland has sold the Cammeray Square shopping centre on Sydney’s exclusive lower north shore for $39.05 million. Private Sydney-based investment house Fortius Funds Management – which last week spent $174 million on three inner-city Sydney retail assets – is the buyer. Cammeray Square forms part of a mixed-use development of four buildings, surrounding a central

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Savills Australia poaches two JLL executives to launch Capital Advisory division

Savills Australia has established a Capital Advisory division after poaching two executives from rival JLL’s Sydney office. Ben Jackson and Andrew Cottam (pictured, top) have joined Savills as directors, with their focus on providing clients capital raising services, and advisory. Mr Jackson has been a director of JLL’s Debt Advisory division for six years. Prior

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Ace Hotel set sights on Australia with commitment in Sydney’s Surry Hills

California based hospitality group Ace Hotel is coming to Australia, leasing an 18-storey facility set to start construction in Sydney’s inner south Surry Hills. The 264 suite inn will be developed around Tyne House at 49-53 Wentworth Avenue. Golden Age Group acquired the 743 square metre site from Sydney businessman Michael Teplitsky last January. At

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Brisbane, Melbourne childcare centres set to smash national records

A Brisbane childcare centre investment listed this month could be the most expensive sold in Australia – smashing the record set last year for a Sydney centre, by some $14 million. The Bowen Hills complex, three kilometres north east of the Queensland capital, is expected to trade for more than $35 million. It forms part

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