CBD Commercial Property News

Sydney-based funds manager Marprop Real Estate Partners is closing in on property transactions approaching $1 billion and has flagged further acquisitions after picking up the Bendigo and Adelaide Bank building in Melbourne’s Docklands.

Singapore’s acquisitive Royal Group Holdings is in exclusive due diligence to buy one of the last dowager hotels of Sydney, the landmark Sofitel Wentworth, in the largest hotel deal of the year.

Cromwell Property Group’s dramatic overhaul of its portfolio is continuing with the group eyeing off the purchase of the $250 million Rundle Place retail property in the heart of Adelaide.

Diversified property group Stockland is at the heart of two property plays in Sydney’s central business district, with a sale of its half interest in the $700 million 135 King St and Glasshouse complex to the Investa fund that co-owns the complex imminent.

Chinese-backed commercial dev­eloper Golden Age has picked up a building in Melbourne’s Little Collins St belonging to the Uniting Church Synod of Victoria and Tasmania and high-profile developer Jonathan Hallinan, paying about $43 million.

The long-held Tsindos restaurant site in the city’s Greek quarter has fetched a whopping price.

Property funds management group Charter Hall has made a play for the landmark Sydney office tower owned by the listed Dexus and the private Perron Group in a bid that could see the Elizabeth Street property change hands for close to $650 million.

Brisbane’s central business district office market is again luring local groups, with Cromwell heading the race to acquire a major George Street office tower for about $530 million.

A massive Southbank development spanning more than 2.2ha and worth $2.8 billion has collected a pair of international awards.