Investment News

One of Brisbane’s most iconic ­hotels, the stylish Emporium in Fortitude Valley, has been picked up by Hong Kong’s Ovolo Hotels group in a deal worth about $40 million.

Australian shareholders in Westfield will ­receive a record cash payout of $7.36 billion when the shopping centre empire is taken over by Europe’s Unibail-Rodamco, new data shows.

Agents in South Australia say investors are already pinpointing the southern state as a major target for 2018, with more attractive yields on offer than what they can find on the eastern seaboard.

Takeover target Asia Pacific Data Centre Group has put its assets up for sale with hopes of reaping $300 million for its data centre properties.

Advisory and investment group KordaMentha has bought a Melbourne office building and plans to launch a fund for retail investors to take a stake, through its property funds management business Placer Property. 

Pelligra Group has been named as the buyer of Holden’s former manufacturing site in Adelaide’s north but the Melbourne-based development company will not take control of the land until mid-2019 when decommissioning has been completed. 

Singapore-listed Straits Trading Company has snapped up an office building on Perth’s St Georges Terrace for $54.2 million as it expands its local property empire.

Major development and investment companies have swooped on four properties in the parliamentary triangle precinct in Canberra that were sold off by the federal government for a total of $122.5 million and will be turned into new hotels, shops and office space.

A Hong Kong real estate magnate and a fund manager hailing from the territory have signed two separate deals to buy Sydney office towers for more than $450 million.