Sydney Commercial Property News

A Ryde property that was once home to the former RTA has sold for $3.756 million.

The Mirvac Group has entered the race to build a $1 billion-plus office tower on the best block at Sydney’s Circular Quay, with the move pitting it against rival Lendlease, which is planning a $1.5 billion skyscraper on the block.

Pub billionaire Justin Hemmes is one of a slew of high-profile local developers and international investors to inspect Sydney’s prized Coogee Bay Hotel, which has hit the market with a price tag of more than $250 million.

Marriott International will open a luxury W Hotel in Sydney within two years as the jewel in Grocon’s $700 million The Ribbon development at Darling Harbour, ­pitting it against competitors such as the newly opened Sofitel near the International Convention Centre. 

The private O’Brien Group Australia’s purchase of the Icebergs Dining Room and Bar at Bondi Beach from former adman John Singleton for about $15 million will help it grow its leisure empire in Sydney by giving it an exposure to the booming top-end dining market.

The tussle between Sydney’s long-time family publicans and a new breed of fund managers for the city’s most lucrative properties has seen the Marlow Hotels Group edge out rival bidders to buy the Peachtree Hotel in Sydney’s western suburb of Penrith.

Superannuation fund-backed investment manager ISPT has finalised one of the largest office market deals of the year, taking a half-stake in Sydney landmark Westpac Place in a play valuing the tower at more than $1.7 billion.

Construction and development giant Lendlease is pushing ahead with projects in Sydney and Melbourne, winning approval for a timber office building at Barangaroo South and lodging plans for a $292 million apartment project in the Docklands. 

US technology giant Google has swooped on the buildings on Sydney Harbour that house the Seven television network in a deal worth more than $150 million.