Investment News

Singapore’s Ascott group has ploughed $180 million into Quest Apartment Hotels, increasing its stake from 20% to 80%, claiming it is now Australia’s largest serviced residence provider.

Hawaiian-based hotel group Outrigger, which once had strong links to Australia, hopes to re-enter the Queensland market. And it has flagged interest in the Whitsundays’ Hayman Island, which until recently was operated by the One & Only luxury resort group. This article originally appeared on theaustralian.com.au/property.

Commercial property volumes are tracking below last year’s record volumes but a series of major office and retail portfolios are close to changing hands, potentially lifting this years’s sales closer to the $29 billion record. This article originally appeared on theaustralian.com.au/property.

The listed Centuria Metropolitan has snapped up the Target headquarters building being developed by Cedar Woods in the Williams Landing project in Melbourne’s southwest in a $58.23 million deal. This article originally appeared on theaustralian.com.au/property.

A Vicinity Centres-run trust backed by the Future Fund and the Canada Pension Plan Investment Board will bring a $600 million portfolio of shopping centres to market as offshore groups jostle for position in the sector. This article originally appeared on theaustralian.com.au.property.

Popular but ageing family fun park Gumbuya Park will receive a $50 million facelift in a bid to make it one of Victoria’s best tourist attractions. The Tynong facility, which has operated for nearly 40 years, will be …

A huge Tweed Heads car dealership with four marques under its roof has sold for $11.2 million, after attracting big interest from major investor groups. The dealership, leased to Sharp Motor Group, was once operated …

The Greg Paramor-led Folkestone has struck a deal that will see it develop a $70 million shopping centre and large format retail site in the Melbourne suburb of Altona North. This article originally appeared on theaustralian.com.au/property.

A Chinese developer has splashed more than $30 million on one of the largest individual landholdings on the Mornington Peninsula. The 63ha Morning Star Estate in Mt Eliza was sold by CBRE for $36.2 million when it changed …