Tuesday, 28th January 2020

National

Australian Unity Healthcare Property Trust Raises $291 million (AFR)

· Australian Unity has completed a $291 million equity raising for its unlisted Healthcare Property Trust, after closing it “within a week or so of opening”.

· The raising follows two years of requests from its yield-dependent retail investor base to reopen the high-returning fund for new investment.

· The 20-year-old trust consists of assets totalling $1. 7 billion, with a high proportion of high-grade hospital and medical centre assets.

· The trust made an annual net return after fees and expenses of 13.02% over the five years to December 2019.

New South Wales

Chatswood Retail Lease (AFR)

· Mexican food restaurant Guzman y Gomez has increased its market share in Australia with the lease of a 151m² shop with outdoor seating at 409 Victoria Avenue, Chatswood NSW 2067.

· The seven-year lease was dealt with a gross rental of $1,850/m² ($279,350) plus GST from landlord Willoughby Council.

· Guzman y Gomez has more than 126 restaurants in Australia, Singapore and Japan.

Sydney CBD Office Lease (AFR)

· AVARI Capital Partners has signed a five-year lease for 178.8m² of office space in the Australia Square tower at 264 George Street, Sydney NSW 2000.

· The Australian funds management firm will pay a gross annual rent of $1,688/m² (301,814.40) to landlord Dexus.

Victoria

Central Melbourne Office Tower Approved (AFR)

· Cbus Property have gained approval from the Victorian government for the development of a new $1 billion office tower in central Melbourne on the corner of Bourke and Queen Streets, stretching over four separate addresses.

· The 49-storey building which comprises 59,000m² of commercial space is one of the first approvals under the VIC government’s C270 rules concerning site density and setbacks, aimed at limiting residential development in the city centre.

· The new ruling has resulted into smaller floorplates, with the largest in the building being 1,700m² on the lower levels, shrinking to 1,300m² on the higher floors.

· The Bates Smart-designed building will contain a four-level wellness hub and parking for 600 bikes. The emphasis on wellness allowing smaller employers to offer a level of amenity that smaller tenants could often not provide.

· The City of Melbourne gave their approval in October, with the state government's approval coming two days before Christmas.