CBD Commercial Property News

Cashed up investors had one Melbourne CBD vendor purring after selling a laneway building for nearly $1 million above initial price expectations.

Singapore-based SC Capital will pre-sell its planned $700 million mixed-use hotel and office tower in the heart of Sydney in what is being pitched as the marque offer of this half.

Global workspace group WeWork is bringing its landlord model to Australia and is in talks to buy up buildings that it occupies, with a Melbourne tower on Collins Street being targeted for about $80 million.

Private equity group Blackstone is looking to capitalise on Sydney’s hot office market by offloading an office tower in York Street it picked up from distressed Chinese company HNA at the beginning of last year.

Singapore’s Soilbuild REIT has extended its office empire in Australia by purchasing a $134.22 million tower in Adelaide’s central business district from Credit Suisse’s asset management arm.

Stockland will push ahead with plans to overhaul Sydney’s landmark Piccadilly Centre after taking full control of the near $700 million complex and selling off a stake in a nearby $680 million tower.

The listed Cromwell Property Group has finalised the largest property investment in Brisbane this year, buying a George Street office block from US private equity group Blackstone and German group HSBC Trinkaus for $524.75 million.

Relative affordability, keen demand, limited buying opportunities and a strong economic performance have contributed to heightened investor focus on Tasmania’s commercial real estate market.

Singaporean sovereign wealth fund GIC is putting its stamp on Sydney‘s commercial property market by taking a stake of just over one quarter in two massive Lendlease-developed towers in the Barangaroo South harbourside office precinct that are worth about $4.6 billion in total.