Office

This week in what you need to know in property, realestate.com.au chief economist Nerida Conisbee looks at how China’s GDP woes affect Australia, office vacancy rates and much more.

An expansive rooftop terrace will provide a premium corporate entertainment space atop a five-storey office complex planned for central Geelong.

Singapore-based Redhill Property Partners is heading the field of bidders for Perth’s BGC Centre, which is being sold by the family of late tycoon Len Buckeridge for about $110 million.

Lendlease’s wholesale Australian Prime Property Fund Commercial is weighing up joining the rush of investors lifting their exposure to Brisbane’s office market with a move to take control of the Central Plaza 2 complex in a move that would value it at about $400 million.

Global shared workspace company, WeWork, has further expanded its Sydney presence taking about 11,000sqm of office space at 320 Pitt St, in a major Sydney CBD leasing deal.

A consortium led by Charter Hall has bought Telstra’s global headquarters in central Melbourne for $830 million, in a deal that shows demand for skyscrapers is running hot.

Sydney-based funds manager Marprop Real Estate Partners is closing in on property transactions approaching $1 billion and has flagged further acquisitions after picking up the Bendigo and Adelaide Bank building in Melbourne’s Docklands.

National office vacancy rates shrank one percentage point last financial year, despite a short-term softening in business confidence becoming a concern, a report from JLL has shown.

Diversified property group Stockland is at the heart of two property plays in Sydney’s central business district, with a sale of its half interest in the $700 million 135 King St and Glasshouse complex to the Investa fund that co-owns the complex imminent.