Office

Singapore’s GIC Real Estate has capped a busy year for office investors by backing the purchase of Perth’s Exchange Tower for $326 million with the sovereign wealth fund betting that resources cities will set the pace next year as it supports a Primewest-run vehicle aiming to capture this growth.

Developer Consolidated Properties plans a $250 million office building on a site near its first Fortitude Valley development in a bid to replicate the earlier project, which was leased and sold in 2016 ahead of breaking ground.

Pub mogul Justin Hemmes has taken the biggest bet of his career, buying a large Sydney CBD site adjoining his Ivy party palace for a multi-storey development valued at more than $1.5 billion.

A new venture between property executive Chris Lock and investment house Wingate has bought an Adelaide office tower for about $103.5 million in a sign of demand for assets in South Australia.

Offshore buyers are setting a cracking pace buying office blocks across Sydney’s suburbs and major centres in NSW but local groups have also bought up in the latest $300 million worth of transactions.

Co-working giant Hub opened its newest Australian location in Brisbane’s Anzac Square late last month, spread over four levels of the award-winning building. And the new sharespace continues the trend of bringing the home into …

Upmarket watch brand Rolex is buying the Victorian Liberal Party’s long-time headquarters in Exhibition St in Melbourne’s central business district for $37.1 million.

Melbourne’s central business district office towers are drawing capital from around the world with interests associated with Hong Kong’s Foo Hang Jewellery close to buying a major Collins St tower for about $315 million.

GPT has locked in insurance group QBE as anchor tenant at its $300 million office development in Parramatta.