Iris Capital pays AccorInvest c$180m for distressed iProsperity portfolio

Sydney publican Sam Arnaout is paying AccorInvest c$180 million for 17 Ibis hotels. Twelve are in the purchaser’s home state amongst them Ibis Sydney Airport (pictured, top), Ibis Budget Sydney Olympic Park and Ibis Newcastle. Three are in metropolitan Melbourne including a 230-room inn near Queen Victoria Market. There is one in each of Brisbane

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Justin Hemmes pays Good Beer Co c$32m for Randwick’s Duke of Gloucester

The Good Beer Co has sold Randwick’s Duke of Gloucester Hotel to Justin Hemmes’ Merivale Group for about $32 million – the latest in a string of eight-figure hospitality sector deals. The purchaser owns the Royal Hotel Bondi, Coogee Pavilion and Woollahra’s Hotel Centennial – all also in Sydney’s east. JLL Hotels & Hospitality Group’s

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ESR buys 11 Propertylink investments for $302.5m

ESR Australia is buying out one of its managed funds – the Propertylink Australian Industrial Partnership II (PAIP II) – for $302.5 million. The deal will see 11 east coast assets transferred to another ESR Australia trust, ESR Australia Logistics Partnership (EALP): 12A Rodborough Road, Frenchs Forest, NSW 98 Kurrajong Avenue, Mount Druitt, NSW 2

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Redcape outlays $38m for Dulwich Hill portfolio including Gladstone Hotel

Gladstone Hotel and neighbouring Local Liquor Superstore, with adjacent bottle shop Little Bottler – three separate Dulwich Hill holdings and liquor licenses – have sold to ASX listed Redcape for $38 million. The freehold going concern deal was finalised two weeks after JLL Hotels & Hospitality closed a select tender process. It is New South

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LWHP pays $353m for six Bunnings investments

Charter Hall managed Long WALE Hardware Partnership (LWHP) – which includes Telstra Super and VFMC as partners – has paid $353 million for a portfolio of six metropolitan Bunnings stores. Five are in the east coast capitals of Sydney (Bonnyrig and Caringbah), Melbourne (West Footscray) and Brisbane (Underwood and Virginia). The other is in Adelaide’s

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Centuria spends $171.1m on cold storage portfolio

Centuria Industrial REIT (CIP) has spent $171.1 million on three Australian east coast cold storage investments. The deal is being struck on a blended 5.62 per cent yield. All properties are occupied, to either national or international businesses. One of them was acquired as a leaseback. The portfolio’s Weighted Average Lease Expiry is 6.4 years.

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Apartments approved for Elizabeth Bay’s ex-NSW CWA HQ

Top Spring Australia has won permission to construct a luxury six level apartment complex on the former NSW Country Women’s Association headquarters site in Elizabeth Bay. The project will replace a shorter office and accommodation building rising the same number of floors. The not-for-profit sold 11-13 Greenknowe Street in 2014 to another China backed developer,

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New Centuria fund settles on three short stay healthcare investments worth $115m

Centuria Healthcare has spent $115 million on three short-stay medical centres anchored to Nexus Hospitals for its newly launched Centuria Healthcare Property Fund – which is set to pay its first distribution on Tuesday. In the most valuable deal, it outlaid $55.5m for the Bloomfield Medical Centre in Orange, about 260 kilometres west of Sydney.

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Williams-Sonoma leases Horsley Park warehouse from Frasers

San Francisco based kitchenware and home furnishings retailer Williams-Sonoma has leased a c17,400 square metre distribution centre west of Sydney. The asset, 2A Johnston Crescent, within Frasers Property Industrial’s The Horsley Park Estate, is due for completion mid next year. It will include 67 car parks, 640 sqm of A-grade office, dedicated truck lanes and

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