Investment News

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.

The property transaction billed the sale of the year — the offer of a half-stake in Sydney’s $1.8 billion Chifley Tower and Plaza — has been called off, for now, by vendor Singapore sovereign wealth fund GIC Real Estate.

The Queensland capital is drawing international investors, with Singapore-based ARA Asset Management and US funds manager Heitman believed to be positioning to carve up the $200 million Quadra Pacific office portfolio.

Melbourne’s commercial property market is batting off the gloom about a decline in Asian investment with a run of hefty retail and office deals.

M&G Real Estate, a unit of British insurer Prudential PLC, is eyeing the purchase of a half stake in the prominent building in North Sydney known as Coca-Cola Place, which is being offloaded by South Korea’s ­National Pension Service in a deal valuing the entire tower at close to $450 million.

The rapid expansion of health and aged care, student accommodation and data centres saw alternative assets show the fastest growth for JLL in Australia with revenue increasing 70% for the nine months to September compared with 2017.