A-grade Commercial Property Insights

Property group Dexus is backing up its claim that office values will hold, selling a North Sydney office block for $273m, just above its book value.

Property group Dexus could take its dramatic property sell-down to around the $2bn mark as it fields offers for a one quarter slice of Melbourne’s landmark 80 Collins Street development that it picked up last year in the city’s largest ever direct property deal.

The country’s premiere office towers are weathering the coronavirus crisis storm with sales being struck at levels showing only slight shifts in values ahead of the pandemic hitting.

Listed developer Mirvac has flagged a major push into Melbourne’s office market and has lodged plans for a new office skyscraper in La Trobe Street in the central business district.

Melbourne’s office market is about to be tested by JPMorgan Asset Management, which has put a Southbank tower on the block for more than $400 million.

Lawyers are circling Dexus’s new office tower in the heart of Melbourne’s central business district, with leading law firm Ashurst the latest to sign a deal to make the move to the developer’s premium project.

Perth funds manager Realside is making a major play in Adelaide’s office market in which it will pick up a half-stake in four buildings worth $200m from Pep Rocca’s private funds business.

Boutique property manager Centennial Property has swooped on the former City Ford site in the inner Sydney suburb of Woolloomooloo in a $104 million deal that gives it control of a prime mixed-use building.

High-profile property companies, the Roberts family-backed RF CorVal and Melbourne-based Grocon, have struck fresh deals in the western Sydney hub of Parramatta where billions of new developments are in the pipeline.