NSW Commercial Property News

Malaysian entrepreneur Boon Lee Tan is tapping into the lack of inner-city Sydney hotels, developing a boutique property in Pyrmont branded as a Cititel X via the conversion of an existing serviced apartment complex.

Customer relationship giant Salesforce will anchor the building of Sydney’s tallest office tower with the Lendlease development at Circular Quay, the first of a wave of new projects being anchored by hi-tech tenants.

Singapore-listed company Raffles Education Corporation has struck a fresh deal to offload its Parramatta office block, as more than $1 billion worth of towers in the western Sydney hub are in play.

Sydney’s action-packed pub market is set to be fuelled further as the Ingleburn Hotel is put up for sale for the first time in 60 years.

Childcare movers and shakers Mike Wu and Shan Kuo continue to establish themselves as industry king pins after launching a divestment strategy that could net more than $150 million. 

Canada’s Oxford Property Group, via its Oxford Investa Property Partnership, is stepping up its asset sale program to around $3 billion with the offer of a major tower in Sydney’s O’Connell St for about $310 million.

The pub-collecting Laundy family has added Maitland’s Bank Hotel to its portfolio in a $5.5 million deal, and a major Queensland pub has also changed hands.

Finding a new building that combines luxury hotel suites, a co-working lounge and even the offices of a multinational used to be hard in Australia, but a series of projects, including a complex that will become North Sydney’s tallest tower, are challenging perceptions.

Singaporean sovereign wealth fund GIC has extended its holdings in the western Sydney hub of Parramatta by snapping up the Jessie Street Centre, in league with property funds group Charter Hall, from Canadian group Brookfield for about $420 million.