Brisbane Commercial Property News

When I think of food at a retirement village, I think of slop – large amounts in a bain-marie.

A partnership between Heathley Asset Management and inter­national property company Grosvenor Group has sealed its first deal, buying the Westside Private Hospital in Brisbane for $61.7 million.

Chinese-backed developer Poly Australia has secured its first acquisition in Queensland and has unveiled plans for a major residential project in the Brisbane suburb of Ascot.

Brisbane’s office tower market is gathering pace with a run of purchases under way showing that investors are keen to capitalise on the city’s rising rents and heavy infrastructure spending.

Diversified property group Stockland has offloaded two Queensland shopping centres for $143 million as it pushes ahead with plans to sell off about $400 million worth of retail assets.

US real estate investment management firm Heitman has struck up a joint venture with Marquette Properties to buy a Brisbane office tower from private Canadian investor Quadra Pacific for about $115 million.

Brisbane’s office market is starting the year with a series of major towers worth more than $300 million in play and investors looking to expand their holdings.

A city deal could pave the way for government-owned land to be opened for development, as all levels of government work to deliver a “better” future for southeast Queensland.

Dozens of development sites in Sydney, Brisbane and Melbourne, some large enough for 600-unit apartment towers, are hitting the market as Chinese developers plagued by poor buyer appetite and lack of finance are forced to sell.