Sydney Commercial Property News

Spending 20 years at a telecommunications company isn’t the most traditional path to launching a small business.

Macquarie Telecom’s $80 million state-of-the-art data centre in Sydney has begun construction after earlier delays.

Property developer Stockland has received the green light to start work on the first stage of its $500 million commercial precinct in Sydney’s emerging northern industrial hub.

Melbourne private investor Marks Henderson has expanded its Sydney portfolio with a high-profile $92.75 million office acquisition in inner-city Darlinghurst.

The Pallas Group has forked out $32.74 million to buy a landmark corner site on Double Bay’s Bay St and Guilfoyle Avenue, with the existing premises to be converted into its new headquarters along with retail and extra commercial space.

The contests for two of Sydney’s premiere office towers are coming to a head as the year closes, with bidding on the two offers — one by US private equity giant Blackstone and the other by Macquarie Group — putting their combined value at more than $1.5 billion.

US group Hines is looking to stamp its authority on the local office development market and is in pole position to build a new tower in North Sydney that could be worth about $330 million.

The NSW government has appointed Deicorp to develop 450 apartments in a 20-level tower on the Castle Hill Showground site as part of its plan to create a mixed-use $3bn development north of the Sydney CBD.

Flamboyant businessman John Singleton and former Qantas boss Geoff Dixon have finally offloaded Balmain’s popular The Unity Hall Hotel for $20 million, more than double its $10 million 2011 acquisition price.