Wednesday, 26 July 2017
New South Wales
Historic Sydney Building Will Remain Standing (AFR)
The NSW Land and Environment Court have found a decision not to heritage list the Sirius Building in The Rocks to be invalid.
The NSW Government were planning to demolish the building and use the money raised on alternative housing.
Rather the court ruled it be placed on the heritage list as a building of significant importance
Half-stake in Melbourne Office Building Acquired (The Australian)
Mirvac has confirmed that Singapore-listed Suntec REIT has acquired a half-stake in its Olderfleet Building at 477 Collins Street, Melbourne for $414 million, reflecting a yield of 4.8%.
St Kilda Apartment Block Sold (AFR)
A Taiwanese based developer has acquired a 1804m², 19-apartment block with development potential at 596 St Kilda Road, Melbourne for $34 million ($18,847/m² LA).
Co-owners, Singapore-listed Lian Beng Group and KSH Holdings Limited made a $10 million profit in 2 years from the sale.
Box Hill Development Site Sold (AFR)
Melbourne developer Longriver has acquired a 1972m² BP petrol station with high-rise zoning at 843 Whitehorse Road, Box Hill for $23 million ($11,663/m² SA).