Investment News

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.

Property powerhouse Dexus is looking to bolster its position in North Sydney by snapping up The Christie Centre in Berry St for more than $60 million.

Singaporean groups are setting a fierce pace in buying up existing city hotels and sites where they can develop new properties across Australia.

Manulife Real Estate, the global real estate arm of Canada’s biggest insurer, Manulife Financial, is looking to stamp its authority on the local property market with the purchase of the Myer headquarters at Victoria Harbour in the Docklands for close to $300 million.

Another wealthy Melbourne family has taken advantage of soaring prices for top commercial assets, with Morry Schwartz and his family selling a hotel and historic pub for close to $100 million combined.

The commitment of Chinese conglomerate Dalian Wanda to its $2 billion projects in Sydney and Surfers Paradise is again in doubt, with the company offering to bundle up and sell its international apartment and hotel projects in a $6.6 billion mega-deal.

A huge 10ha parcel in Doyalson was recently purchased by the Doyalson Wyee RSL for $2.5 million, although the plans for the site cannot be disclosed by the club at this stage. Sold by Raine …