Office

A multimillion dollar upgrade of a Waymouth St office building and the imminent arrival of thousands of office workers in a nearby tower mark the continuing shift of Adelaide’s office heart, according to Adelaide leasing agents.

Taiwanese-backed developer Shayher Group has added to the rush of commercial property purchases in Queensland, picking up Brisbane’s landmark Q&A Centre for about $395 million.

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.

US oil and gas giant Chevron will stay in its existing St Georges Terrace digs until the end of 2023 while Brookfield builds its new headquarters tower at Perth’s Elizabeth Quay.

A Richmond studio leased by a TV production firm co-founded by model-turned-actor Rikki-Lee Lacco, and with links to Channel 10, could have a tasty future.

Office investors are swooping on sites around the country that were once destined to become apartment developments, with the latest play on St Kilda Rd likely to end hopes of a luxury block designed by the late star architect Zaha Hadid being built.

German investment house Real I.S. has swooped on a Waymouth St office block in the Adelaide CBD for $85 million on behalf of a group of institutions that have mandated it to build up a $400 million portfolio.

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.

The premium end of Sydney’s commercial property market is headed for greater heights, with US private equity group Blackstone looking to strike a series of deals involving about $3 billion worth of the city’s best office towers.