NSW Commercial Property News

The Defence Department has flagged a major shake-up of its property holdings that could see it shift to new digs in Sydney, Melbourne and Canberra, in one of the department’s biggest ever real estate moves.

Heavyweight property group Brookfield has put the Jessie Street Centre in the heart of Parramatta up for sale amid expectations it will go for about $400 million.

A tightly held retail precinct in the Liverpool region has sold for a whopping $17.3 million.

Almost a month after the expressions of interest campaign closed, negotiations are reportedly underway to hopefully finalise a deal to sell the iconic Manly pub known as The Drain.

A tenanted unit block along one of Fairfield’s thoroughfares has been snapped up for nearly $3 million.

In almost every sphere, Melbourne and Sydney are sworn enemies and if a new survey is to be believed, the southern capital has just taken a major title from the harbourside city; as the preferred destination for Australian-based commercial property capital.

The former Jackie’s cafe site in Bondi Beach owned by philanthropist Tanya Nelson Carnegie has sold for just under $9.7 million to a local investor as a long-term hold.

Fresh from its acquisition of Darwin’s casino operations, US hospitality giant Delaware North is continuing its aggressive drive into Australia’s tourism industry, buying the rights to operate and develop the popular Lane Cove River Tourist Park in Sydney.

The listed CC Land Holdings, the Hong Kong-based firm controlled by Chinese property magnate Cheung Chung-kiu, has quietly emerged as one of the canniest investors in Australia’s most recent office property cycle.