Mair Property Funds (MPF) has spent $27.55 million on commercial assets in Adelaide and Perth – its fourth and fifth major real estate acquisition this year. With these deals, the 35-year old West Perth-based commercial property trust and managed funds group has assets under management valued at more than $260 million. It controls them viaRead more
Lendlease-managed Australian Prime Property Fund (APPF) Retail has sold a half share of Adelaide’s Westfield Marion for $670 million – a 2.9 per cent discount to its 30 September, 2019, book value. The asset was expected to trade for about $740 million when it hit the market in April, which would have been about consistentRead more
Moelis Australia Asset Management has sold a homemaker centre in Adelaide’s north. The Hollywood Plaza Large Format Retail complex is trading to a local private investor for $12.95 million. On a 3.7 hectare site at 155 Winzor Street, Salisbury Downs, the asset includes two buildings, with 8080 sqm of lettable area – fully leased, toRead more
The historic Boston House in South Australia’s Port Lincoln has hit the market for the first time in 44 years. The State heritage listed Victorian residence at 41-57 Lincoln Highway, Boston, on the waterfront, made headlines just before it last sold, when a former owner, Adam Nestor, failed in his attempt to make the estateRead more
Developer Chip Eng Seng has won approval to build a 27-storey hotel in the Adelaide CBD – and secured Hyatt Regency to manage it. Construction of the 295-suite inn is set to begin next year and be completed by 2023. The hotel is earmarked for a 1283 square metre plot at 51 Pirie Street whichRead more
A fully-leased healthcare investment in Kings Park, in Adelaide’s exclusive inner-south, has sold for $8.425 million. The multi-tenanted Kings Park Health complex has operated at 309-311 Goodwood Road for about 60 years. On a 3072 square metre site, the double storey building contains 1226 sqm of area and returns annual rent of $491,895. On thatRead more
An inner-Adelaide commercial investment on a site big enough to be on the radar of major developers from Australia’s east-coast, and offshore, has been listed with high-$20 million price hopes. The 1.37 hectare block in Norwood, about two kilometres east of the city centre, has not changed hands for more than 30 years. At theRead more
The Church of Scientology has acquired the former home of the Messenger Press newspaper, in Port Adelaide. The church proceeded with the purchase after securing planning consent to redevelop the property into a place of worship and community centre. On a 4700 square metre plot, the 3535 sqm office at 1 Baynes Place is costingRead more
Blackstone is understood to be close to selling Adelaide’s Rundle Place shopping centre for close to $250 million. The private equity group has also listed for sale a suburban Melbourne shopping centre, Brimbank Central, which is speculated to be worth more than $170 million. According to this item in The Australian, funds manager AMP CapitalRead more
A modern and fully let office in Wayville, in Adelaide’s inner south-west, has sold for $16 million. The triple-storey complex with 120 car parks at 67 Greenhill Road returns annual rent of approximately $1.106 million. Multiple tenants, including AMP Advice, which has naming rights, occupy the 3308 square metre building, which offered a weighted-average-lease expiryRead more
It may be third time lucky for Starwood Capital in its attempt to buy the Australian Unity Office Fund. Following failed bids in March and July, the US-based investment group is offering $2.95 per unit – equating to $480 million – for the fund which controls nine assets across the country. The latest offer representsRead more
A fully-leased industrial investment north of Adelaide has sold for $10.1 million. In Gepps Cross, about 12 kilometres from the city centre, 115 Cavan Road (pictured, top) has been occupied by State Records of South Australia since 2003. The asset was offered with a new five year lease to the state government, which then hasRead more
Interests associated with the Cohen family, founders of vacuum cleaner chain, Godfreys, have pocketed $27.64 million from the sale of seven retail assets across Australia. The portfolio – shops predominantly tenanted by Godfreys – hit the market last month. Promoted as investments, with leases in place, some of the sites offered medium term and mediumRead more
Singapore’s listed Straits Trading Company Limited has announced a joint venture partnership with Commercial & General to manage a portfolio of five Australian logistics assets worth a total of $130.5 million. Straits Trading subsidiary Straits Real Estate will hold an 80 per cent interest in the asset holding named ILP No 1 Trust. It willRead more
A North Adelaide property said to have once been the family home of Rupert Murdoch (pictured, left) has hit the market. At 17 Tynte Street, about a kilometre from the Adelaide CBD, the dwelling, on a 480 square metre plot, is being marketed for the first time in 35 years by Fox Real Estate inRead more
Perth-based Ascot Capital has sold a poultry plant in South Australia and an office building in the Australian Capital Territory for a total of $116.25 million. Both sites were purchased by Singapore-based Soilbuild REIT – which has established a wholly owned management investment trust called Soilbuild Australia for its maiden local purchases. Following these acquisitions,Read more
LEND Lease has been unveiled the preferred “proponent for construction work” for the Adelaide Oval redevelopment.
The Adelaide Oval Stadium Management Authority with the Department of Transport, Energy and Infrastructure selected Lend Lease and its subsidiary, Baulderstone to design and construct a new stadium with a 50,000 person capacity (image of proposal, right).
A copy of Lend Lease’s announcement is below:Read more
ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.
The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.
The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.
Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.
DEFENCE Housing Australia has spent more than $150 million on some 500 houses in Adelaide’s northern suburbs.
The properties have been acquired since 2008 and are concentrated in housing developments near Edinburgh including Playford Alive, Blakes Crossing and around Gawler (train station pictured, right).
DHA has purchased an entire street in the Playford Alive development at Munno Para West.Read more
PASTA manufacturer San Remo has paid just over $8 million for an industrial property in Dry Creek, in Adelaide’s north.
The deal is Adelaide’s largest industrial transaction for three years. The site was sold by pipe manufacturer Rocla.
It’s reported San Remo will redevelop the 5.8 hectare site after Rocla vacates after a short-term lease back.Read more