NSW Commercial Property News

One of Sydney’s most famed public precincts has sold, with private real estate group Markham paying $125.5 million for the King Street Wharf.

The $300 million-plus pub fund operated by leading business figures Geoff Dixon, John Singleton and Mark Carnegie has been all but sold down with just three city and suburban hotels in Brisbane and Sydney plus an interest in a fourth pub remaining.

German funds manager Deka Immobilien has swooped on the Bvlgari store in the heart of Sydney, picking up the bulk of the building that houses the luxury retailer in a deal worth about €36 million ($56 million) as the very top end of the market defies gloomy retail conditions.

The property transaction billed the sale of the year — the offer of a half-stake in Sydney’s $1.8 billion Chifley Tower and Plaza — has been called off, for now, by vendor Singapore sovereign wealth fund GIC Real Estate.

Corporate and leisure travellers can expect hotel rates in Sydney and Queenstown on New Zealand’s South Island to surge at least 5% next year but accommodation rates in the once booming mining cities of Perth and Brisbane are expected to remain relatively flat.

The historic Armidale Courthouse has hit the market in New South Wales for the first time in 140 years. The heritage-listed gem at 100 Faulkner St will be sold via public auction onsite later this …

Gracelands, a bright blue landmark on bustling Cleveland St that had previously played shelter to rock stars, a mayor, and countless backpackers, has just sold for $3.6625 million. Formerly known as Meath House, a grand …

Boston-based investment manager AEW Capital Management has bolstered its Australian holdings with the $143 million purchase of a Pyrmont office building in one of the largest plays in Sydney’s fringe market this year. The group …

IBM has leased seven floors at 259 George Street in the Sydney CBD, with the technology giant consolidating from four to two Sydney locations.