Commercial and residential property news
THE Brisbane Square office building has sold for $300 million to a consortium including Charter Hall Group’s wholesale Core Plus Office Fund, and Telstra Super.
The duo purchased the asset from WA super group Westscheme.
Measuring 57,300 square metres, the A-grade office sale is due to settle by mid November.
A Charter Hall statement is copied below:
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CHARTER Hall is set to start building a $75 million housing estate on part of Nylex’s former industrial products manufacturing and distribution complex in Mentone, a site which it has snapped up in stages over the past four years.
In a trend that is seeing interstate builders increasingly look to Melbourne’s outer suburbs for opportunity, the Sydney-based developer plans to build 119 townhouses on the 3.3 hectare site at the south-west corner of Warrigal Road and Oak Avenue.
Construction of the project, to be known as Aquilo, is set to start within weeks. Marketing of the first townhouses, priced from just under half a million each, commences today.
Read moreA SINGAPORE based real estate trust has paid $166 million for a half share in a major Brisbane office building.
Read moreMACQUARIE Group Limited will sell the majority of its Australian real estate business to the Sydney-based Charter Hall.
Macaquarie will sell the management of two listed trusts – Macquarie Office and Macquarie Countrywide – and three unlisted real estate funds including the Macquarie Direct Property Fund.
Details of the deals are in the Macquarie Group Limited statement below:
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SYDNEY-based fund manager and developer Charter Hall is continuing its selling spree, offloading $170 million of office and industrial property this week.
The Core Plus Office Fund has made $60.2 million from the sale of the Victorian College of Pharmacy building at Monash University, which sold to an overseas investment group.
Other sales including Bunnings stores and a Harvey Norman, are detailed in the Charter Hall announcement below:
Read moreCHARTER HALL has sold its half share interest in a portfolio of ten inner-city investment properties, with redevelopment potential.
Charter Hall will sell its share in the “Fosters Abbotsford” portfolio to its consortium partner for the investment, the Wyllie Group. The $18.3 million sale price reflects a yield of about 8.15 per cent for Wyllie, and a 9 per cent discount to the Charter Hall December 2008 independent book value.
Charter Hall Group (“CHC” or “Charter Hall”) announces a $73 million listed equity raising. Gandel Group (“Gandel”) will invest up
Read moreDEVELOPER Charter Hall has unveiled plans for a major residential development on the former Nylex industrial products manufacturing and distribution facility in Mentone.
Read moreELEVEN inner-city development sites, purchased as a whole by Sydney-based fund manager and developer Charter Hall at the peak of the property boom, will be resold individually, in an attempt to curb debt.
Read moreCharter Hall is believed to have dropped its offer for Channel Nine’s outgoing Richmond television studios by c$20 million. Sources
Read moreAquisitive fund manager Charter Hall is reported to have changed its mind regarding the purchase of Channel Nine’s outgoing studios in Willoughby, Sydney and Richmond, Melbourne.
Read moreCharter Hall, one of Australia’s leading property fund managers and property developers has been awarded the exclusive right to negotiate the purchase of the Nine Network’s headquarters in both Sydney and Melbourne following a tender process.
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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.
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CHARTER Hall Office REIT has signed the Australian Tax Office to renew its lease at a prominent Moonee Ponds office tower.
The ATO has occupied the entire 22,000 square metre, seven level building (pictured, right) since it was developed in 1991. The office is near the Puckle Street retail strip, identified by previous governments as a prime activity centre in the north-west.
ATO’s lease was due to expire in 2013. It has now extended that until February 2020.
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WESTERN Australian based developer and fund manager Brookfield Multiplex has paid $25.3 million for a commercial development site in the City Square development site.
Brookfield is expected to build a 14-level office on the site, which was also reportedly competed for by the Charter Hall Group.
Aspen Group also reportedly conducted due diligence on the site.
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DEE Why’s Grand Shopping Centre in Sydney has sold to a private investor for $68 million.
The 10,000 square metre centre, with 30 specialty stores on Sydney’s northern beaches, was offloaded by grocery wholesaler John David and hotel owner the Bayfield family.
Institutions including Charter Hall, Colonial First State, the Future Fund and Lend Lease reportedly threw their hat in the ring for the centre, which sold on a yield of between 7.5 and 8 per cent, based on a fully let income.
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AS reported in The Age last year, CBUS Property has confirmed it is the mystery buyer of a half share interest in Melbourne’s 171 Collins Street development.
CBUS has paid Sydney-based owner Charter Hall $15.5 million, to take its share in the $280 million office development, which challenged a previous planning precedent, restricting height around the “Collins Street spine”.
It’s understood the developers are targeting the National Australia Bank which has a 40,000 to 60,000 square metre requirement in the market at the moment.
Read moreThe Foster’s Group has made $8.3 million from the sale of another industrial property in the inner north-eastern suburb of Abbotsford. The property was sold separately from a portfolio of eleven other Abbotsford properties offloaded by the brewer last year to Charter Hall, for around $41 million.
Read moreAcquisitive developer and fund manager Charter Hall is rumoured to have shelved plans to buy a Docklands office building, currently under construction on the southern banks of the Yarra River, near the Melbourne Exhibition and Convention Centre.
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Melbourne-based Growthpoint Properties Australia is selling a major Perth Airport logistics asset held 17 years. The Woolworths distribution centre at
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Australian office demand strengthened in the first half of the year, particularly in premium CBD buildings, even as national vacancy
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Mirvac is in advanced negotiations to buy half-stakes in two Premium grade east coast CBD office towers. The interests in
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The National Rugby League is understood to be weighing another significant property acquisition. The code is undertaking due diligence on
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Goodman has divested another major logistics asset, this time in Sydney. Mitsubishi Estate’s investment management arm MEC Global Partners Asia
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With more than 21.6 million registered vehicles and net overseas migration of approximately 300,000 people annually, Australia’s automotive services sector
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MPG Funds Management has quietly sold a Bunnings backed investment after a decade. The 2.35 hectare store at the corner
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Stockland has sold an Industrial Outdoor Storage investment in Brisbane’s south on a funds-through basis. The 8.94 hectare asset, 108
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Sonic Healthcare has sold a landmark Brisbane life science facility with a leaseback. The Sullivans Nicolaides Pathology complex at 24
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Newmark Capital has quietly divested a Coles-anchored shopping centre in Melbourne’s leafy east after seven years and selling down five
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The Fairfax family has sold a south Sydney pub held 27 years. Thomas Hotels has paid $42 million for The
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Australian Venue Co has bought the freehold going concern to the White Cockatoo Hotel at Petersham from Ray Reilly who
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Castlerock has quietly snapped up a modern Perth office anchored to two state government departments. The seven level building, Workzone
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Melbourne asset manager Plantation Capital has banked an impressive capital gain flipping one of two car yard investments bought six
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Exceed Capital has entered negotiations to buy a Sydney Olympic Park office leasehold from Charter Hall. The six level building
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360 Capital FM Limited and Alfasi Group have secured two more tenants to a five year old Cremorne office. With
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Norhart Developments has bought an industrial development site in the Flagstone Priority Development Area at North Maclean. The 20.25 hectare
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AFL club the Brisbane Lions has leased a prominent ground floor space at an A-grade office opposite Marvel Stadium’s southern
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Forza Capital is understood to be pursuing the landmark Myer store on the Bourke Street Mall – a deal which
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ESR Australia has sold a Northern Beaches investment seized with its takeover of Propertylink Group in 2019. The Virgin Active
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Corval has sold a Perth industrial investment held just over four years. The Sydney based asset manager finished in the
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Germany’s biggest pension fund, also the primary administrator for the country’s public sector, has quietly sold three east coast shopping
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Aldi has pre-committed to a landmark 102,000 square metre high-tech distribution centre in Melbourne. Charter Hall on behalf of the
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Wentworth Capital has bought North Sydney’s ex-MLC headquarters. On behalf of a fund, it is speculated to be paying just
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EXCLUSIVE Following an off-market deal, the University of Melbourne has purchased part of the ex-Myer dispatch complex, across two streets,
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Hospitality giant Oscars, led by brothers Bill and Mario Gravanis, has snapped up an imposing Telstra exchange with a leaseback.
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EXCLUSIVE The Schiavello family has bought another Melbourne Bunnings – this time outlaying $49.5 million. The 3.92 hectare outlet at
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Centennial has bought another major Prestons industrial investment. The 1.76 hectare IN3 Heavy Industrial zoned asset, 6 Ash Road, set
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Charter Hall has bought another triple supermarket anchored mall, this time on the Gold Coast. Southport Park Shopping Centre was
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Icehouse Logistics Group, or IHL, has committed to one of the larger buildings at Fraser Property Industrial’s 112 hectare Eastern
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Burwood Council has bought two neighbouring vacant west Sydney offices from UniSuper, which inherited them merging in 2022 with Catholic
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The Bank of Queensland, which also controls the Virgin Money brand, will move headquarters to the CBD after 10 years
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Woolworth has quietly picked up a south west Sydney supermarket leased to Coles seven more years. The 2675 square metre
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MAB Corporation has sold another piece of its Element Park estate, in Melbourne’s outer south east. The new Clyde North
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A Perth investor has bought Horsham Bunnings following a pre-auction offer reflecting a six per cent passing yield. The 9592
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The City of Newcastle has snapped up another investment, this time at Sandgate. Coincidentally, the local government owned the 8.64
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A sprawling medical centre sharing part of a roofline with Macquarie Health’s Melbourne Eastern Private Hospital, is for sale. Also
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Australian Unity has sold a Lower North Shore medical technology, logistics and life sciences facility after 12 years. The three
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Paul Freestone’s Reds Group has been revealed as the buyer of Redcliffe’s Bluewater Square, for $32 million. The neighbourhood shopping
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Matthew Gibb has sold a modern CHEP Service Centre north of Adelaide. On 5.6 hectares, 37 Caribou Drive, Direk, collected the
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Aldi has secured a national transport company to sublet part of a cold storage and distribution centre in Sydney’s south
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Wesfarmers has sold six Bunnings stores with leasebacks as part of plans to wind up the BPI, or BPI No
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Richmond’s trophy The Grand Hotel has been listed for sale by the Zagame family. The enormous pub – with 780
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CSR is selling an industrial developer another west Sydney site – this one abutting the new airport. The 194 hectare
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QIC has sold one of six Queens Wharf properties acquired from the state government for $561.9m, in 2023. The David
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Corval has snapped up a 10 year old Bibra Lake industrial park. The 2.81 hectare asset, 16 Aspiration Circuit, cost
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Charter Hall has announced a handful of property deals for its Social Infrastructure REIT (CQE). In the biggest direct trade,
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Mining product manufacturer Jennmar will consolidate from 15 New South Wales locations to a new outer south west Sydney facility.
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EXCLUSIVE Australian Venue Co has reaped an impressive profit from a historic Victorian pub bought late last year then re-offered
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BlackRock and Wentworth Capital have bought a third property for a $1.5 billion Life Sciences platform announced last year. The
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Interests associated with the state’s Hutchinson Builders have collected $13.75 million from a recently refurbished and relet Woolworths at Maleny,
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Sports doctor Peter Brukner has sold another supermarket bought with a leaseback from Woolworths’ development arm, Fabcot. Following an off-market
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Myer Group has sold a historic store with a leaseback. Following a campaign launched last October, which found a buyer
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Australian Venue Co, it is speculated with Charter Hall, has quietly bought the freehold going concern of a popular Hervey
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Region Group – until late 2022 known as SCA Property Group – is the latest institution to shed a fully-leased
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Elanor Investors Group has sold a Moreton Bay shopping centre held by a single asset fund. Bluewater Square at Redcliffe
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IP Generation is eyeing the landmark Top Ryde City shopping centre – with a standalone component extending into the podium
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Australian Unity has sold another asset from its Healthcare Property Trust. The group is reaping a speculated $9.65 million for
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Coles Group has snapped up a permit-ready town centre site in Melbourne’s south east. In a deal worth just under
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Sherbet Bomb creator Lagoon Confectioners has shut after 95 years and sold its most recent headquarters, manufacturing plant and distribution
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Elanor Investors Group has sold the last asset from its Property Income Fund. Shopping centre Gladstone Square, 100 kilometres north
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