NSW Commercial Property News

Shopping centres are changing hands at a brisk pace as a US private equity group has made its maiden investment in Australia, buying the Coles-anchored Hurstville Central Shopping Centre in Sydney’s south for $119.5 million.

The strong appetite for Sydney’s suburban office towers has been put on display as Singaporean group Mapletree Investments leads the race to buy RF CorVal’s Chatswood tower for about $150 million.

The chance to buy a whole apartment block in a premier Sydney suburb doesn’t happen every day.

Diversified property heavyweight Stockland has struck up an alliance with the Catholic Diocese of Broken Bay that will see the pair build an unconventional high-rise tower combining retirement and aged care facilities in the northern Sydney suburb of Epping.

The private owner of the freehold of Sydney landmark Chifley Tower is exploring options that could see it dispose of its interest in the property for more than $100 million.

Global funds manager TH Real Estate has again leapt into Sydney’s hot office market, preparing to snap up Built’s headquarters which are now being constructed for a price believed to be about $170 million.

Shopping centre giant Vicinity Centres will offload a string of local malls it owns across Australia in one of the most significant retail deals of 2018.

They’ve been used as World War II air raid shelters, an experimental mushroom farm and an underground lake for swimming, but now the platforms and tunnels at Sydney’s historic St James Station are set for a new future.

Chinese-backed company Yuhu is pressing ahead with its ambitious roster of Sydney projects, including luxury hotel and apartment towers at the Gold Fields House site at Circular Quay, despite problems at its massive Jewel development in Surfers Paradise.