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 theRead more
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 assetsRead more
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); SettlersRead more
A Singaporean investor is paying Woolworths $27.3 million for the recently constructed Banksia Grove shopping centre in Perth’s north. The 5721 square metre complex on a 2.5 hectare block at 103 Ghost Gum Boulevard, Banksia Grove, hit the market in February with c$35-million price hopes. The retail investment contains a 3850 sqm supermarket leased toRead more
Charter Hall has snared two high-end accessory retailers as tenants for its Raine Square development, in the Perth CBD. Tiffany & Co and Kailis Jewellery have signed long-term leases within the development on the corner of Murray, Queen, Wellington and William streets, with direct access to the Perth underground train station. Also set to includeRead more
The founders of Nationwide Towing & Transport, a company now majority-owned by the RACV, are selling a portfolio of four industrial investments across Australia. Offered with a leaseback, in one line or individually, the properties return annual rent of $901,160 and are expected to trade for a total of more than $14 million. All up,Read more
Singapore’s Hiap Hoe is speculated to be paying more than $100 million for the Aloft Perth Hotel, and an adjoining office building, in Western Australia. The Rivervale hotel (pictured, top) is one of numerous assets belonging to the late construction tycoon Len Buckeridge, which is being sold down by his family. The Buckeridge estate, asRead more
Woolworths has sold a retail complex in Perth’s outer northern suburb of Aveley for $27 million to a private investor. Woolworths Aveley (pictured top, left and bottom) is trading on a market yield of 5.8 per cent. Built in 2016, and with depreciation benefits, the asset was offered with a 12-year lease to Woolworths. AlcoholRead more
Vicinity Centres has sold 11 shopping centres spread across Victoria, New South Wales, Queensland and Western Australia, for a total of $631 million. One asset, the Belmont Village shopping centre in Geelong, and worth $58 million, sold in a deal which settled last month to a Sydney-based investor, the Geelong Advertiser reports. Ten more assetsRead more
Hawaiian and Queensland Investment Corporation have paid $4 million for a historic building next door to their Claremont Quarter shopping centre, in west Perth. The consortium acquired 21 Bay View Terrace (pictured, top) in Claremont from private investors which previously occupied the building. The double-storey retail asset includes 340 square metres of lettable area, whichRead more
A Singaporean investor has made their first foray into the Perth commercial property market, paying $33 million for an office opposite Kings Park and Dumas House. The building, 1 Havelock Street, West Perth, was offloaded by WA-based Ascot Capital Limited, an investment house directed by David Van Der Walt, Greg King and Peter Agostino. TheRead more
A Malaysian investor is buying a double-storey, mixed-use asset with redevelopment potential in Perth’s ritzy south-west. Following an off-market deal, 22 St Quentin Avenue, Claremont (pictured, top), which is fully leased, is trading for $12.35 million, a yield of 4.6 per cent. Opposite major shopping centre, Claremont Quarter, the St Quentin Avenue holding covers 1952Read more
The Perth property which until recently accommodated an incomplete, distinctive mansion which became dubbed around the world as the Taj on Swan, appears to have found a buyer. The Peppermint Grove site, pictured above and left, and advertised during its most recent public sale campaign as “the most famous block in Australia”, is speculated byRead more
LEND Lease Retail Partners 3 Fund has paid $46.5 million for the Northgate Shopping Centre in Geraldton, Western Australia. Supermarket giant Coles, and variety store Target anchor the large centre which also includes 36 specialty shops. The closed ended fund now has five assets in its portfolio,worth a total of $411 million, according to theRead more
AUSTRALIAN Reward Investment Alliance is reportedly in due diligence to buy a half share of Perth’s QV1 Tower for more than $300 million.
The $20 billion fund is believed to be buying the asset with the assistance of Eureka Funds Management. It is being offloaded by the Dexus Property Group, which holds the asset on behalf of superannuation fund STC.
The second half of the building is owned by Investa Property Group.Read more
The former home of controversial Perth businessman Alan Bond has sold for $39 million.
The Dalkeith property (pictured, far right) is the second most expensive home sale to take place in Perth recently. In 2009, mineral resources director Chris Ellison paid $57 million for the Mosman Park home of mining heiress Angela Bennett.
Mr Ellison’s colleague, Steve Wyatt, founding shareholder in mining services company Mineral Resources, is the buyer of Mr Bond’s former home. It was offloaded by former goldminer Barry Patterson, according to the AFR.Read more
PROPERTY fund manager Charter Hall Group is reported to have snared construction giant Leighton Holdings as a tenant for a major Perth CBD office project.
Leighton is said to be considering a 28,000 square metre campus style office, part of Charter Hall’s new Workzone development at 202 Pier Street, on the Perth CBD’s northern tip (image of a building within the project, right)
The site, held by the Charter Hall Opportunity Fund No 5 (CHOF5), is due for completion in 2013, subject to pre-commitments.Read more
DEVELOPER Brookfield will push ahead with a second office tower on the site of its City Square project, in Perth.
Brookfield’s proposal is for a 16-level, 30,000 square metre tower which will stand alongside a 45-level tower under construction, and leased to BHP Billiton (artist impression of this tower, right).
Perth’s CBD office vacancy rate is a low 6.6 per cent.
Brookfield Office Properties Australia chief executive Brian Kingston said construction could start by October.Read more
A 12.1 hectare parcel of land near Perth Airport sold to a private owner for $20 million.
The leasehold land, which has 90 years left to run on a lease, is owned by the Westralia Airport Corporation – the private company that operates Perth’s international and domestic airports.
A private owner reported to be Michael Hodgson has purchased the site, but this could not be confirmed by the AFR which reported the deal. Mr Hodgson is the director of several property companies. He also owns Perth’s Botanica Bar, in Innaloo.Read more
MINING giant BHP Billiton looks unlikely to relocate its headquarters to Perth any time soon, according to news reports.
In 2008 Perth mayor Lisa Scaffidi labelled a new building BHP was occupying at City Square as “BHP’s new national headquarters” raising speculation the giant will leave its long-time home in Melbourne.
The mayor told a council meeting BHP’s Melbourne operations would be “significantly downgraded” in what was “a major boon” for Perth.Read more