Half Share of Perth’s QV1 Tower Selling For More Than $300 Million

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.

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Eureka Funds Management Pays $83.2 Million For Sydney CBD Office

IN one of the first major CBD office transactions for the year, Eureka Funds Management, on behalf of the Aria Property Trust, has purchased an investment in Sydney.

Allianz Australia, as vendor, is reported to have achieved a sale price of $83.2 million for the 17-level, 14,962 square metre office at 55 Clarence Street.

The building is 98 per cent occupied to tenants including AAPT, Allianz Australia and Gray & Perkins Lawyers.

The sale price reflects a yield of about 8.4 per cent. CB Richard Ellis agents Josh Cullen and Rick Butler negotiated the deal.

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Victorian Government Reaps $40 Million From Sale of Old Melbourne Convention Centre

THE Victorian Government has made about $40 million from the sale of the old Melbourne Convention Centre.

A joint venture between local developer Clement Lee and Eureka Funds Management has purchased the development site on the south-west corner of Flinders and Spencer streets.

A $300 million mixed use village is planned, according to the AFR which reported the sale.

Eureka owns the neighbouring Crowne Plaza Hotel, while Mr Lee’s Asset 1 owns the World Trade Centre, to the west of the former state government site.

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