Weekly Transaction Update - 23rd March
This week we recorded 14 major deals worth $1.07bn.
The largest deal this week was the $550M acquisition by Lend Lease's Prime Property Fund & First State Super of the Two Melbourne Quarter proposed office buildings being developed by Lend Lease. Approx half of the 50,000sqm building has been pre-committed to by Energy Australia who will relocated from a number of locations in the City.
Two major development site also transacted this week with Meriton acquiring a 1 hectare site in Zetland from the City of Sydney Council for $80M. The site, at 94 Epsom Rd, is expected to yield in excess of 300 apartments, pricing the site at $266,000 per apartment.
Also this week, the Morris Property Group acquired the car park on London Circuit in Canberra from Mirvac & CIMIC (Ex Leightons) for $90M. THe Vendors acquired this site in 2007 for $92M and have been unable to secure office tenants for their proposed 100,000sqm 4 building office park. The Morris Property Group will attempt to gain approval for an apartment development on the site which could yield up to 1,000 apartments
A Scroll through the list below or head to RE-Intel for further details.
* indicates unconfirmed price