In more Glasshouse, but this time in Macquarie Park, Charter Hall signed off on an off-market property, securing two 50% stakes in the Macquarie Park Glasshouse office building for a total of $331.3 million. Simultaneously, Stockland sold off its half share of the nearby 135 King Street and the Glasshouse shopping centre for $340 million. Stockland secured the remaining 50% share of Sydney’s Piccadilly Centre from Oxford Properties for $347 million. The property has long-term potential to be replaced with a new township with an end value of about $1 billion.
It bought the property from BlackWall in mid-2017 then exercised extension options to finalise the purchase. Yuhu Group finally settled on the $380 million acquisition of the six-hectare Bakehouse Quarter site in North Strathfield. The Charter Hall Retail REIT also dived into the Rockdale Plaza, spending $142 million and receiving 21,000sqm of lettable area and 907 car parks in return.
The partnership comprised of a 68% and 32% split respectively. Newmark Capital also splashed out $51 million on a yet-to-be-completed large-format retail centre in the regional Victorian town of Warragul.Ĭharter Hall was busy around the nation, and in Sydney they partnered with Abacus to purchase 201 Elizabeth Street CBD tower for $630 million. While a local family picked up the Highpoint Lifestyle Centre in Maidstone for $25 million. Primewest added the Geelong Gate Lifestyle Centre in Corio to their Third Diversified Income Trust for $44.25 million. Large shopping and lifestyle centres also had their fill with Woolworths selling a 26.47-Ha land parcel adjacent to the newly built Mernda Train Station for $51.5 million. The four-storey building was originally held by Sydney-based investment firms Trumen Corp and Bricktop Group, who paid $37 million for it in 2015. The development spearheaded by a joint venture between Asia-based real estate platform ESR and Frasers Property, and will serve as the new national headquarters for carmaker Nissan.įrasers Property Australia had a considerably good year in the industrial sector, picking up a 41.3-hectare industrial development site in Dandenong South for around $80 million this follows its $40 million acquisition of a 63.4-hectare block in Epping late in 2018 – where it is also proposing an industrial park.Īnother major suburban office deal made news with Melbourne's Zagame family agreeing to $55 million for a Hawthorn building currently leased to Swinburne University. Melbourne’s suburban office assets also proved a hot commodity, particularly in the south-east, with Singapore property giant Ascendas REIT picking up a new eight-level Mulgrave office building, set for completion in mid-2020, for close to $111 million. The large site neighbours a 96-hectare block at 640 Aviation Road, which the property group purchased for $52 million in 2016. In the suburbs, Dahua Group paid $140 million for a 98.4-hectare site at 688 Aviation Road, Point Cook. While Boston-based AEW Capital Management stumped up some $200 million for a 22-storey office on a corner site at 31 Queen Street.
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The tower retained 100% occupancy by Telstra and underwent a $67 million upgrade to the lifts and base building areas before the sale.īut this impressive sale wasn’t the only CBD and CBD-fringe tower to make waves through the year as the GPT Wholesale Office Fund took 100% ownership of their Southbank office tower, at 2 Southbank Boulevard, securing the remaining half share for just over $326 million from Frasers Property Australia.ĥ95 Collins Street, a 20-storey dual-connected tower spanning 3,778sqm with three ground-floor shops and 145 basement car spaces, also traded hands, moving from South Korea's National Pension Service to Hong Kong investor Foo Hang Jewellery for $314 million. Charter Hall and Canada’s Public Sector Pension Investment Board came together to acquire the 47-storey, A-grade CBD office tower at 242 Exhibition Street, in an off-market transaction worth $830 million.
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