Thursday, 28th March 2019
New South Wales
Sydney Airport’s $60 Million Hotel (AFR)
The Felix Hotel at Sydney Airport has been purchased for $60.6 million by Singapore’s Ascott REIT from local developers, led by Sydney developer Felix Milgrom.
The Felix Hotel will be rebranded as Citadines Connect from May, and managed by the Ascott REIT’s sponsor, The Ascott Limited, who owns 80% of Quest Apartment Hotels, the country's largest serviced apartment operator.
University of Wollongong Partners with Lendlease (The Australian)
The University of Wollongong and Lendlease will work together on a $500 million integrated health and wellbeing hub.
The facilities will sit at the southern end of the University’s Innovation Campus at Fairy Meadow.
The new 7.5ha precinct will include a 126-bed residential aged-care facility, 199 independent retirement living units, an 80-place childcare centre and recreation facilities.
Billion Dollar Dexus Deal on Collins Street (AFR)
Dexus have overtaken Charter Hall and Mirvac for the purchase of the Collins Street development precinct offered by Queensland funds giant QIC.
The billion-dollar mixed-use precinct comprises an existing 52-storey tower at 80 Collins Street, Melbourne, VIC 3000 that exists in the upmarket end of Melbourne’s premier office strip, while QIC is developing a 39-storey office tower, along with about 6000sq m of retail and a 300-key hotel managed by Singaporean brand Next.
Bidding on the deal is believed to have come in between $1.3 billion and $1.4 billion.
Salta Property’s $230 Million Partnership (AFR)
A partnership to develop a $230 million office complex in Melbourne’s Richmond has been struck between private developer Salta Properties and the listed Abacus Property Group.
The development, leasing and asset management of the project in Richmond’s Church Street will be managed by Salta, who will keep a half share in the end project with Abacus to also take half.
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