Buying Commercial Property

The ranks of heavyweight investors pursuing Perth office towers are swelling, with a Singapore fund edging closer to buying a CBD building for about $84 million. This article originally appeared on theaustralian.com.au/property.

Some of the last remnants of the Direct Fashion Outlet empire are being sold, with DFO Jindalee in Brisbane’s western suburbs acquired for $46.6 million.

The growing trend of neighbours selling their properties collectively has reached the commercial market, with a group of South Sydney industrial owners joining forces to sell eight properties.

A family who owned a site leased to Mitre 10 in bayside Melbourne for 35 years were reduced to tears after it sold for almost $6 million above reserve.

Queensland’s shopping centres remain hot property amongst investors looking to outmanoeuvre stiff competition and yield compression in the southern states.

Move over, Monte Carlo and The Hamptons. There’s a new hotspot where the world’s wealthy are seeking out second homes, and it’s in our own backyard.

National cinema chain Palace Cinemas has bought a $3.5 million South Yarra office in a deal that will see it move its headquarters from its traditional home in Balwyn.

Heavyweight pub investors the Laundy family and Greg Karedis have paid about $60 million for the beachfront Crowne Plaza Terrigal hotel. This article originally appeared on theaustralian.com.au/property.

Townsville City Council has placed its premium Thuringowa offices on the market as it relocates its administrative services.