Queensland Commercial Property News

Cashed up from its recent majority sale to private equity group KSL, luxury hotel operator Baillie Lodges is in an acquisition spree, looking to develop boutique properties in Sydney’s The Rocks, Victoria’s Great Ocean Road and Western Australia’s Kimberley region.

While Australian country musician Slim Dusty sang about a lonesome pub with no beer, this “Ye Olde English” pub may have no beer, it’s anything but lonesome.

Infrastructure projects worth $9 billion, more jobs and rising confidence point to 2019 being a year of economic growth, according to the Colliers International Townsville quarterly commercial report.

NSW hotel magnate Jerry Schwartz has made his first foray into Queensland, buying the Hilton Surfers Paradise for just under $70 million, well down on its initial asking price of more than $80 million.

A Paddington property with four separate streams of rental investment income has hit the market.

The commercial property boom shows little sign of abating despite the chill winds ripping through housing and shopping centres with a series of record-breaking office deals being struck just head of Christmas.

In the current piping hot commercial property market, yields of below 5% are often standard fare for investors as prices continue to climb.

The Bangkok-based Minor Hotels Group has bought into Far North Queensland in a deal worth about $19 million, acquiring the former QT Port Douglas from Event Hospitality.

Heavyweight funds group LaSalle Investment Management, acting for the California State Teachers’ Retirement System, has assembled a major parcel in Brisbane’s prized Golden Triangle worth about $200 million.