NSW Commercial Property News

Royal Caribbean has stolen a march on its rivals, including Carnival, taking a 75-year lease on an island in Vanuatu to offer passengers a private destination on its South Pacific cruises.

Pub tycoon Justin Hemmes is diversifying his hotel empire and has bought one of Sydney’s biggest gaming pubs, the Allawah Hotel, in the city’s southwest, for about $34 million.

Wealthy investors are putting up their capital to bet against the prevailing gloomy sentiment about retail property even as some local institutions adopt a cautious stance towards the under-pressure sector.

Asian logistics and office giant ESR has put a $50 million office block in the western Sydney hub of Liverpool up for sale as it recycles some assets it picked up from taking Propertylink private last year.

Boutique property house Stirling Property Funds has bought an office building in Liverpool in Sydney’s western suburbs for $46 million for a new unlisted fund.

Property heavyweight Mirvac has benefited from the strong appetite for well-located Sydney shopping centres with its St Marys Village trading for about $68 million to an Asian-backed investor.

Businessmen John Singleton and Geoff Dixon have called last drinks at Balmain’s iconic Unity Hall Hotel, following a decision to sell the pub.

The site of Sydney’s first kosher butcher’s shop — set up by Holocaust survivors — is set for auction with $10 million price expectations.

The former La Strada premises in Potts Point have been listed for sale by Giovanna Toppi, the restaurant family matriarch.