Charter Hall and Western Sydney University to build $350 million Innovation Quarter, with three mixed-use towers

Charter Hall has entered into a development agreement with Western Sydney University to build Innovation Quarter – promising to be a world class, health-focused ecosystem of services. The $350 million development will comprise of three mixed-use towers, with more than 38,000 square metres of area, to be occupied as research, health, education and commercial space.

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iProsperity, ZACD Group buy AccorInvest portfolio of 23 hotels for $212.6 million

iProsperity Group (iPG) and Singapore-based fund manager ZACD Group have acquired a portfolio of 23 hotels from AccorInvest for $212.6 million. The investments – 17 real estate assets and six lease interests – provide 3046 rooms across Sydney, Melbourne, Canberra, Brisbane, Perth and major regional cities (a full list of the portfolio is at the

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Caltex lists c$120 million portfolio of 25 development sites

Petroleum giant Caltex is selling a portfolio of 25 metropolitan service stations, speculated to be worth a total of about $120 million. The properties are squarely being targeted to builders – the marketing agents saying “the portfolio offered a timely opportunity for apartment, mixed use, retail, hotel and build-to-rent developers” to stock up. The assets

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Settlers Group enters voluntary administration

Retirement village operator Settlers Group is the latest Australian property company to enter voluntary administration. On August 28, the company appointed FTI Consulting’s Joseph Hansell, Ian Frances and John Park as Receiver and Manager. Settlers Group operates 687 units within retirement villages known as: Settlers Rockhampton (in Queensland); Settlers Forest Lake (Queensland, pictured, top); Settlers

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Former NSW minister Virginia Judge outlays $1.83 million on Newtown terrace

Former politician Virginia Judge (pictured, right) has paid $1.83 million for a three-level, three-bedroom home in Sydney’s inner-south west Newtown. The price was $180,000 over reserve. Ten bidders registered to compete at the auction, Bresic Whitney principal Shannon Whitney and colleague Renee Dickey told the Inner West Courier in this item. The dwelling, also with

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Not for profit group sells Surry Hills’ Eveleigh House for $33.5 million

RT Health Fund has sold Eveleigh House, a low-rise office in Sydney’s inner-city Surry Hills, for $33.53 million. Based on the fully-let building’s annual rental return ($1.5 million), 1-9 Buckingham Street is exchanging on a passing yield of 4.47 per cent. The sale price, according to marketing agency CBRE, “resets” values in Sydney’s city fringe upwards

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Frasers Property Australia snares TTI at Eastern Creek, while Sydney’s west faces industrial stock shortage

Developers aren’t building enough industrial stock in Sydney’s west, according to CBRE research pointing out that demand will outstrip supply for the medium term. “Speculative industrial construction is expected to hit an historic low in Sydney’s outer west,” the agency forecasts, adding that there is a shortage of zoned serviced industrial land readily available for

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Ralph Lauren to open four more Australian east coast stores by October

Ralph Lauren has opened its first standalone women’s store, in the Sydney CBD’s historic Queen Victoria Building. The US-based fashion house has also just announced plans to open four more Australian stores in September and October. Stocking both menswear and womenswear, they are located at: Emporium in the Melbourne CBD; Indooroopilly and Sunshine Plaza, both

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Caltex considering moving its HQ outside of the Sydney CBD

ASX-listed Caltex is considering relocating its Australian headquarters to an office outside of the Sydney CBD. The petroleum giant is reportedly in negotiations to lease 9500 square metres at 29 Bourke Street, Alexandria, about four kilometres south of its current base. The as-yet-unbuilt office is part of Green Square, a 292-hectare urban renewal zone covering

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Microsoft leases North Sydney’s tallest office as its Australian HQ

Global software giant Microsoft will relocate its Australian headquarters to what is set to be North Sydney’s tallest building. Microsoft will consolidate staff based in metropolitan Sydney, as well as its current headquarters in North Ryde, to Winten Property Group’s $1.2 billion 1 Denison skyscraper. Winten paid $80 million for the 1 Denison Street site

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