CBD Commercial Property News

CBD commercial property news, commercial real estate market data, business news and insights.

News
Singapore group to build Sydney’s tallest hotel
Singapore-based SC Capital has unveiled plans for a $700 million mixed-use hotel and office tower in the heart of Sydney for which it will seek investors later this year.
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iProsperity muscles into race for Hyde Park hotel
Fund manager and investor Michael Gu’s iProsperity Group is one of three parties jockeying for the hotel component of a more than $1 billion 50-level apartment and hotel development fronting Sydney’s Hyde Park.
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Bank of Sydney collects seven-storey Pitt St office
The Bank of Sydney has swooped on a Pitt St office block in the heart of Sydney’s central business district, buying the complex from Kingsmede for about $50 million.
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Crown dealt blow as Melbourne skyscraper permit scrapped
Plans by the James Packer-backed casino giant Crown Resorts and the private Schiavello Group to build the $2 billion One Queensbridge hotel and apartment complex at Melbourne’s Southbank have been put in limbo after the Victorian government refused to extend the development permit.
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Primewest spends $86m buying major Perth tower
Perth’s office market is starting the year strongly with Primewest finalising a deal to buy an office building from private equity group Blackstone for $86 million.
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Shortlist for Sydney ferry wharves overhaul narrows to two
Sydney’s Circular Quay is a step closer to a major overhaul with the Berejiklian government quietly shortlisting rival consortiums — one led by Lendlease and the other by Plenary Group — for a $2 billion overhaul of the ferry wharves precinct.
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China’s Poly offers major stakes in Sydney and Melbourne office projects
Chinese property development group Poly Global is looking to step up its Australian operations by offering stakes in about $1 billion of office projects it has under way in Sydney and Melbourne.
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Melbourne CBD hotel, apartment project dumped
Golden Age and partner Starwood Capital have dumped plans for a $600 million apartment and hotel complex on Melbourne’s Spring St and are selling the site to Proprium Capital Partners Australia in a $114 million deal.
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Hong Kong jeweller buys Collins St tower for $314m
Melbourne is locking in its status as a global investment destination for property investors, with Hong Kong group Foo Hang Jewellery finalising a deal to buy a Collins St tower for $314 million, its first move into Australia.
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