Investment News

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.

Singaporean group ARA Asset Management is looking to put its mark on Sydney’s commercial property market early this year with the purchase of a $300 million office project in the harbourfront suburb of Pyrmont.

Investors are tipped to chase office towers outside the hot markets of Sydney and Melbourne as they begin to show better value than the two gateway cities where values have already soared, according to an analysis by real estate firm JLL.

Dozens of development sites in Sydney, Brisbane and Melbourne, some large enough for 600-unit apartment towers, are hitting the market as Chinese developers plagued by poor buyer appetite and lack of finance are forced to sell.

Asian logistics property giant ESR has declared its $723 million takeover offer for the listed Propertylink its best and final price in the absence of a superior proposal and extended it until the end of February.

Australia’s commercial property market has recorded its slowest year since 2013, despite buyers splashing more than $30 billion on commercial assets nationwide in 2018. Year-end data from CBRE – shows investors ploughed $32.8 billion into …

Scores of east coast property development sites, some able to take 400-unit apartment towers, will hit the market within months as Chinese developers crippled by a lack of finance are forced to sell.

Melbourne’s central business district office towers are drawing capital from around the world with interests associated with Hong Kong’s Foo Hang Jewellery close to buying a major Collins St tower for about $315 million.

Melbourne has narrowly outstripped Singapore and Sydney as the best prospect in the Asia Pacific region for both investment and development, according to new data.