Commercial and residential property news
SUPERANNUATION fund REST is believed to be close to selling a Sydney CBD office building to Dexus Property Goup for $60 million.
The 19-level, 10,896 square metre office at 50 Carrington Street (pictured, right) overlooks Wynyard Park and includes ground floor retail space.
Nine tenants lease the building which is about 25 per cent vacant. REST purchased the building from British Property Giant MEPC in 1998 as part of a portfolio.
DEXUS Wholesale Property Fund has paid Colonial Direct Property Investment Fund $231 million for a portfolio of 13 industrial portfolios on Australia’s east coast.
The purchase includes eight properties in Sydney, three in Melbourne and two in Brisbane. Some are income producing investments, while others are development sites.
After the acquisition, DWPF’s portfolio allocation will be 57 per cent retail, 32 per cent office and 11 per cent industrial – though the plan is to boost the industrial allocation.
DEXUS Wholesale Property Fund is reportedly paying more than $200 million for a portfolio of industrial assets – the bulk of Colonial First State Global Asset Management’s portfolio, which was listed in June.
Read moreDEXUS Wholesale Property Fund has paid $23.5 million for a major warehouse in Sydney’s Ingleburn. The 25,807 square metre Williamsons
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ABACUS Property Group has reaped $78 million from the sale of 343 George Street, Sydney.
In an ASX announcement the Sydney-based group confirmed it will settle to sell the property in September.
Abacus paid Dexus $55 million for the building last July, before leasing up vacant office and ground floor retail space.
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SYDNEY-based fund manager Dexus Property Group has lodged plans to build a 15-level, 25,000 square metre office building on a forecourt behind its prominent 360 Collins Street office tower in the Melbourne CBD – near the popular Zuffa cafe (pictured).
The proposed new development would be bound by Little Collins Street, Briscoe Lane, and Collins Way, and its office occupants would stare down the McKillop Street restaurant and retail strip.
It could go some way to putting Little Collins Street “on the map” as a major corporate boulevard like part-namesake Collins Street.
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