Monday, 3rd December 2018

New South Wales

German Fund Manager Enters Sydney CBD (The Australian)

• Deka Immobilien, a German fund, has acquired a majority of the retail and office space at 64-68 Castlereagh St, Sydney NSW 2000. The sale of $56 million includes around 950m² of space on a long-term lease to luxury brand Bvlgari.

Victoria

Melbourne Development Site Sold for 50% Premium (AFR)

• Melbourne-based developer Sterling Global has parted with $13.5 million to capture the 1690m² site at 63 Heyington Place, Toorak VIC 3142. A 50% premium on the $8.8 million purchase price from two years prior came from the approval of a development permit allowing a four-level development not permitted under the current zoning consents.

Supermarket Site Goes for $21.55 million (AFR)

• Australian property developer and publisher Morry Schwartz’s Melbourne supermarket was let go for $21.55 million at a CBRE-run auction. The supermarket at the base of Liberty Tower, 903/620 Collins St, Melbourne VIC 3000, was sold on a yield of 4.13%.

Liberal Party Sells (AFR)

• The office building at 104 Exhibition Street, Melbourne VIC 3000, owner-occupied by the Liberal Party has been sold for $37.1 million to a private high-end luxury retail brand. Other high-profile tenants of the building include QIC Group, Multiplex, and Flight Centre. The Liberal Party agreed to a 60-day settlement and a 10-month leaseback of level 3.

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