Investment News

Young businessmen Rhys Wil­liams and Alex Thorpe are scouring Sydney and Melbourne for inner-city sites to grow their fledgling Veriu contemporary hotel brand. This article originally appeared on theaustralian.com.au/property.

Sydney has arrived as a global investment hub, dragging $7.2 billion of offshore investment into its commercial property market last year and placing it seventh on a list of global cities for foreign investment. This article originally appeared on theaustralian.com.au/property.

Nine retail outlets leased to bulky goods chain The Good Guys have been sold for $92 million, in a series of deal spanning four states and involving multiple buyers.

AMP Capital has bought a shopping centre in Newcastle, north of Sydney, on behalf of Sunsuper for about $163 million. This article originally appeared on theaustralian.com.au/property.

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.