Dulwich Hill KFC sells following auction integrating private online bidding

A fast food investment in Sydney’s Dulwich Hill sold on a low 3.17 per cent yield following an auction integrating private online bidding. Cushman & Wakefield marketing agent Yosh Mendis said the virtual public sale of 498-500 New Canterbury Road “confirmed that investors have been quick to embrace new technologies and adapt to realities of

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Stockland paying $415 million for control of Box Hill’s $4 billion The Gables housing estate

Stockland is paying Celestino Property Development, which is owned by poultry entrepreneurs the Baiada family, $415 million for the undeveloped 196 hectare portion of The Gables housing estate, in Sydney’s Box Hill. The master-planned community has since 2015 been replacing 293 hectares of dairy farm land, nearly 50 kilometres north west of the city. Upon

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Vikings Group sells Macquarie Park Quest to Ascott Residence Trust for $46 million off-market

EXCLUSIVE In another Sydney hotel deal, Singapore’s Ascott Residence Trust is paying $46 million for Macquarie Park’s Quest serviced apartment complex. The six-storey 111 room inn at 71 Epping Road, developed by Goodman five years ago, is trading on a 5.5 per cent yield. Savills Australia managing director, Michael Simpson, brokered the off-market transaction on

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Pelligra Group spends c$70 million on distribution centres in Goulburn, Warwick

Pelligra Group has outlaid about $70 million on two regional distribution centres following an off-market deal. The most valuable facility, in Goulburn, New South Wales (pictured, right), is leased to Coles until 2022. At 134 Lillkar Road, the 16.25 hectare site includes a modern complex with a 42,500 sqm warehouse with 60 access points and

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Vibe Darling Harbour sells to Thai family for $108 million

The Thai family which owns food import business Sino-Pacific Trading has made its first foray into Australia’s hotel market paying $108 million for Sydney’s Vibe Darling Harbour. Icon Oceania only completed construction of the 145-key hotel last October. The developer listed the WMK-designed asset, 319-325 Sussex Street, Sydney, two months earlier. At the time it

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Tranche of 18 service stations net 7-Eleven owners $78.2 million

A portfolio of 18 7-Eleven outlets offered as sale and leaseback investments traded for $78.2 million to separate buyers at an auction event on Tuesday. The deal comes two months after the vendor – controlled by 7-Eleven’s Australian franchise owners, the Withers and Barlow families – banked $77.9 million selling 15 petrol stations, also with

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Aldi to sell $700 million worth of Australian east coast distribution centres

Aldi will offload $700 million worth of distribution centres on Australia’s east coast – with leasebacks. The four warehouses return annual rent totalling about $30 million. Sale proceeds will be used to fund the opening of more supermarkets, it is being reported. The Australian and AFR both broke news of the upcoming listing on Tuesday.

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Mirvac paying $249 million for Nine’s outgoing Willoughby studio and neighbouring TX Australia transmission tower

Mirvac is acquiring as a development play the 2.9 hectare Willoughby site occupied by Nine Entertainment Limited. The holding was offered last April by Lotus Property Fund and Hong Kong based Euro Properties, shortly after approval was granted for a residential redevelopment with 460 dwellings (artist’s impression, top). At the time, the 24 Artarmon Road

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Property Council of Australia 1H20 Office Market Report shows vacancy in Sydney, Melbourne, still tight

The Property Council of Australia released its twice annual Office Market Report today. The national stock comparison showed vacancy in Adelaide and Perth improved since the 2H19 (known in industry circles as ‘the July’) OMR. Melbourne’s CBD had he highest occupancy rate of any capital – at 96.8 per cent. The PCA said more than

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Coles sells West Ryde CBD supermarket with a leaseback for $23.85 million

Coles Group Property Developments has sold another supermarket with a leaseback, this time in Sydney’s West Ryde CBD. A Victorian private investor is paying $23.85 million for the stratum-titled Coles West Ryde complex. Based on the asset’s annual rental return ($1.395 million), the deal is being struck on a 5.85 per cent passing yield. Coles

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Withers family offers 18 more 7-Eleven service station investments

EXCLUSIVE The Withers family – which controls Australia’s 7-Eleven franchise – is offering another tranche of service stations via a sale and leaseback arrangement. The 18 properties, in the Australian Capital Territory, New South Wales, Queensland and Victoria, will be offered separately at a live-streamed auction event starting in Sydney, then moving to Melbourne, on

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