ACT Commercial Property News

One of the first properties to ever be auctioned at Old Parliament House has sold for $3.6 million, but it won’t move far from the vendors’ own family.

A pair of prominent ACT offices is on the market in a building that was formerly Swimming Australia’s Canberra headquarters.

German fund manager Real I.S. has swooped on an office complex in Canberra’s government district, picking up Maddocks House for $29 million.

Singapore’s Soilbuild REIT has become the latest group from the city-state to leap into the Australian market, snapping up a Canberra office complex and an Inghams facility in South Australia in deals worth just over $116 million in total.

Canberra’s office market is again on the radar of local institutions, which wracked up a busy second half in 2017 after foreign buyers had set the early pace.

Major development and investment companies have swooped on four properties in the parliamentary triangle precinct in Canberra that were sold off by the federal government for a total of $122.5 million and will be turned into new hotels, shops and office space.

The federal government has tapped a series of new providers to manage the commonwealth’s property portfolio as it looks to drive greater efficiencies across its holdings. This article originally appeared on theaustralian.com.au/property.

Builder Geocon will develop a $100 million deluxe hotel in the heart of Canberra city after snapping up the Garema Centre in Bunda Street. Geocon managing director Nick Georgalis says tourists and business travellers to …

Canberra emerged as the surprise best performer of Australia’s office markets last year with the national capital ­second only to Sydney in delivering rent growth in the last quarter. This article originally appeared on theaustralian.com.au/property.