QIC proposes $350m Canberra project
QUEENSLAND Investment Corporation will build a $350 million mixed-use project beside its Canberra Centre. The proposal will replace a car
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A.C.T.
Costco Chooses Canberra For Third Australian Store
COSTCO will open its third Australian outlet in Canberra, and retail giant Woolworths is right behind it.
Costco has chosen the Majura Park shopping centre adjoining the Canberra Airport to open its second NSW store. Majura Park is the new name for the collapsed Airport Brand Depot discount outlet.
Only two stores within the previous shopping centre remain: Toys ‘R’Us and Babies ‘R’Us.
Woolworths has also leased space within the revamped centre, and will open an 8000 square metre Big W, a 400 square metre Dick Smith and a 4800 square metre supermarket.
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Emboss Capital Pays $55 Million For Civic Office, Canberra
EMBOSS Capital has paid $55 million for a Canberra office building – its second major transaction on Australia’s east coast recently.
The A-grade, six-level, 9000 square metre office, in the suburb of Civic, was sold with a long lease to the federal government.
According to the selling agencies, Colliers International and Jones Lang LaSalle, the building sold on a yield of 7.4 per cent.
Read moreDepartment of Climate Change Leases Major Canberra Office
THE Department of Climate Change and Energy Efficiency has leased a 21,000 square metre office in Canberra, paying a whopping annual rent of between $420 and $450 per square metre.
The government employers will work from picturesque space adjacent to Lake Burley Griffin, at a $550 million development being built by the Molonglo Group on the site of the former Hotel Acton.
The government body’s headquarters will be known as the New Acton Nishi office.
Read moreOver Fifty Group Sells Canberra Shopping Centre For $19.275 Million
THE Melbourne-based Over Fifty Group has sold a Canberra shopping centre for $19.275 million. The 4960 square metre Chisholm Village
Read moreMajor Canberra Housing Proposal Rejected
THE NSW Land & Environment Court has rejected a major development application near the Canberra Airport, which may have helped solve some of the affordability issues of the city.
The 4685-block, 130-hectare Tralee proposal has been fought since 2002 by developer Village Building Corporation, and the Canberra Airport, which has argued residents would be exposed to aircraft noise and complain, if the development went ahead.
Read moreCanberra’s Maritime Safety Authority Building Sells For $44 Million
CANBERRA’s near new Australian Maritime Safety Authority building has sold for $44 million to an undisclosed private investor.
The 82 Northbourne Avenue office, which was completed last July, sold on a yield of 7 per cent.
The building measures seven levels and was sold with a 15-year lease to the government, paying a high $430 per square metre (high compared to similar quality offices in Sydney and Melbourne).
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Orchard Funds Management Makes $18 Million From Canberra Office Sale
Orchard Funds Management has offloaded another CBD property, this time in Canberra.
The fund manager is making $18.5 million from the sale of an A-grade, 3,412 square metre office in Allara Street. The five Green Star rated building sold on a yield of 8 per cent.
Read moreWillesmen Pays $11.33 Million For Canberra Development Site
PROMINENT Canberra property investor The Willesmen Group has paid $11.33 million for an office building in the nation’s capital.
Thee development site, on the corner of National Circuit and Canberra Avenue, is earmarked to become a 20,000 square metre office building, capitalising on strong tenant demand in the area, known as “The Parliamentary Triangle”.
Read moreStockland Sells Edmund Barton Building to Real IS For $186 Million
The sale of Stockland’s Edmund Barton building in Canberra to German fund manager Real I.S. is now expected to settle in full in mid-June, following a successful $200 million capital raising by Real I.S. in Germany.
Read moreLend Lease Wins $527 Million Government Construction Job
Lend Lease Corporation Limited (“Lend Lease”) today announced that its subsidiary, Bovis Lend Lease Limited (“Bovis Lend Lease”), has been appointed Managing Contractor by the Department of Finance and Deregulation for the design and construction of a new central office building for the Australian Security Intelligence Organisation.
Read moreCranleigh Mansion Smashes Canberra Record
Canberra mansion Cranleigh has regained the title as the territory’s most expensive property, after selling for almost $4.6 million to an as-yet-undisclosed party.
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