CBD Commercial Property News

Qatar Airways is firming as the likely buyer of the Sheraton Melbourne in Little Collins Street for about $135 million in what would mark the Middle Eastern carrier’s entry into the local hotel sector. This article originally appeared on theaustralian.com.au/property.

The Sydney CBD office market has tightened further as tenant demand outstrips new supply, while vacancy remains at a low level in Melbourne. This article originally appeared on theaustralian.com.au/property.

A controversial glass box concept plan at Sydney’s The Rocks is long gone and the popular restaurants lining the harbourfront are closed as wealthy businessman Chris Drivas forges ahead with a $32 million redevelopment of the historic Campbell’s Stores. This article originally appeared on theaustralian.com.au/property.

Corporate and leisure travellers are facing higher hotel rates in Sydney, with prices surging 9% in the first quarter, the largest room rate jump since 1996. This article originally appeared on theaustralian.com.au/property.

Tech firms are following industry giants like Apple, Amazon, LinkedIn and Dropbox to Sydney’s CBD in increasing numbers, research shows, with companies flooding into the city at a rate of more than three a month.

Hong Kong-based Swiss-Belhotel Group, which operates 140 hotels globally, is looking to expand further into Australia and may introduce its new two-star brand, Zest, to capture budget guests. This article originally appeared on theaustralian.com.au/property.

The federal minister for the environment and energy Josh Frydenberg will not intervene in the sale of the freehold of the Sydney GPO to Singapore’s Far East Organisation and its sister company Sino Land Company. This article originally appeared on theaustralian.com.au/property.

Adelaide is now on par with Sydney and Melbourne when it comes to demand from larger businesses seeking office space, according to research from commercial agency Colliers International.

The Giannarelli family has bought the heritage Kozminsky building in the Melbourne CBD for $7.6 million, as values in the city continue to soar. This article originally appeared on theaustralian.com.au/property.