ABS Housing Finance: More credit to Owner Occupiers
November 8, 2019
September Building Approvals continue to fall
October 31, 2019
Stockland add to North Sydney Development site
November 8, 2019
Weekly Transaction Update - 9th June
June 11, 2017
A huge number of transaction this week with 20 assets worth $558M changing hands.
The largest deal was the sale by Fraser Australia of 7 industrial assets for $169M to Fraser Logistics Trust listed in Singapore. The deal included;
89 South Park Drive Dandenong South
8 Stanton Rd Seven Hills
43 Efficient Drive Truganina
189 Cowpasture Rd Wetherill Park
125 Pearson Rd Ormeau (under construction)
29 Indian Drive Keysborough (under construction)
17 Hudson Court Keysborough (under construction)
The properties are all fully lease or pre-committed and offer a weighted average lease expiry of 9.6 years. More information on the deal can be found here
Another large transaction this week was the sale of the 1-4 Railway Street Chatswood. These two buildings which sit alongside the Chatswood Railway Station were sold by Hume Property Group to Lotus Group and IProsperity for $115M ($6,300/sqm). The property comprise 2 x 12 storey buildings with ground floor retail and 100 cars and is 96% leased with a 3 yr WALE.
QIC also announced the sale of 275 George Street, a boutique B Grade Office Building of 7,357sqm. The property has been acquired by John Holland who propose to redevelop the building into an 8,023sqm new office building. John Holland's new parent company China Communications Construction is on the acquisition path having also recently tied up a large parcel of land in Waterloo Rd, Macquarie Park from the State Government.
Also this week came confirmation of the Charter Hall and Investa's acquisition of 3 assets at 366-380 Queen Street Brisbane for approx $54M. The properties site within the "Golden Triangle" precinct and the site consolidation will make way for a potential new 45,000sqm commercial office building for Brisbane. With 3 different vendors, including Clive Palmer, consolidation opportunities are incredibly difficult to achieve.
There were a number of other deals this week. Scroll through the list below or head to Propel for further details.