City fringe

Shopping centres are changing hands at a brisk pace as a US private equity group has made its maiden investment in Australia, buying the Coles-anchored Hurstville Central Shopping Centre in Sydney’s south for $119.5 million.

A skinny three-storey commercial property leased to several businesses in the heart of Box Hill’s retail precinct has sold $1 million beyond reserve.

The market for petrol station investments continues to pump along, with another four properties to be auctioned off at commercial agency Burgess Rawson’s next investment portfolio auction. The four service stations – three in Victoria …

Medical-based commercial properties are coming sharply into focus in the back half of 2018, with a number of properties transacting or being released onto the market.

Diversified property heavyweight Stockland has struck up an alliance with the Catholic Diocese of Broken Bay that will see the pair build an unconventional high-rise tower combining retirement and aged care facilities in the northern Sydney suburb of Epping.

Developers are expected to settle in for a major tilt at a significant potential development site at Blackburn in Melbourne’s east.

A busy childcare centre set in a suburban hot spot has been snapped up by an investor. 

St Ives Shopping Village in ­Sydney has won the title of Australia’s highest revenue neighbourhood shopping centre, with annual sales of $245.26 million. 

French giant AXA Investment Managers-Real Assets is poised to strike the biggest hotel deal of the year after it entered due diligence to buy three ­hotels at Sydney Olympic Park and a fourth in Canberra for up to $330 million.