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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Australasian Property Investments pays $20 million for landmark Henderson industrial site

An institutional grade industrial investment in Perth’s south has sold for $20 million. The state of the art complex on an 8.4 hectare island site at 150 Quill Road, Henderson, was developed by Matrix Composites and Engineering to occupy, 10 years ago. Matrix offered the holding with a 20-year leaseback. Part of one of the

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Texas owner to close 19 Australian EB Games stores this month

The Dallas-based owner of video entertainment chain EB Games intends to close 19 of its 300-plus Australian stores by the end of the month. GameStop – the world’s biggest video game retailer – sent suppliers emails overnight confirming the news. Gaming website kotaku.com.au broke the story this morning, with this item. News of which stores

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Catholic Super, Lendlease, sell QEII Medical Centre car park to IPG

International Parking Group (IPG) is paying a speculated price of about $200 million for the car park component of Perth’s Queen Elizabeth II Medical Centre. The vendors, Catholic Super and Lendlease, were represented by the latter’s PPP advisory arm, Capella Capital, which ran the sale process from mid-year. IPG was advised by Planum Partners (a

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Caltex sells portfolio of 25 service stations for $136 million, or $92 million after costs

Caltex – whose management last week rejected a takeover bid from Quebec’s Alimentation Couche-Tard, saying the $A34.50 per share offer under-valued the company – has sold a portfolio of 25 Australian service stations, for $136 million. The sites were identified as having a highest-and-best use outside of selling petrol. Targeted to residential developers, the properties

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Scentre pays $575 million for half-share of Booragoon’s Garden City Shopping Centre – and rebrands it a Westfield

Scentre Group is paying AMP Capital Diversified Property Fund (ADPF) $575 million for a half share, and the management rights, of the Garden City Shopping Centre in Booragoon, about 14 kilometres west of the Perth CBD. The deal, negotiated by AMP Capital for the Fund – which will retain the other half – is the

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