A-grade Commercial Property Insights

Hong Kong-based Link REIT has made one of the biggest direct property plays of the year, snapping up an office building beside Westfield Sydney for about $683 million.

Brisbane’s rise to become one of the country’s most active office markets has been confirmed with local group Prime Super and advisor Whitehelm Capital swooping on an Adelaide Street tower for more than $150 million.

The heat in Australia’s office market has been put on display, with one of Asia’s largest real estate investment trusts heading the field to acquire an office building beside Westfield Sydney for close to $700 million.

Property funds manager Centuria Capital has finished the year on a high note, with its listed office trust buying Canberra’s NewActon Nishi Building for $256 million.

A fund managed by listed property fund manager Primewest has sold the iconic “Chambers” building and an adjoining eight-storey office building “The Tower” in Brisbane’s CBD for $47.4 million.

The contests for two of Sydney’s premiere office towers are coming to a head as the year closes, with bidding on the two offers — one by US private equity giant Blackstone and the other by Macquarie Group — putting their combined value at more than $1.5 billion.

German funds manager Deka Immobilien is targeting the purchase of Brisbane’s 66 Eagle St complex for about $370 million, with the play again highlighting the city’s appeal to global investors.

The acquisitive Charter Hall has put its belief in the suburban office markets of Sydney on display, unveiling a deal backed by Singapore’s sovereign wealth fund to buy the Jessie Street Centre in Parramatta for about $415 million.

Top law firm Herbert Smith Freehills is being courted by developers looking to lure it out of Melbourne’s tower of power, 101 Collins Street, with the under-construction skyscraper at 80 Collins Street emerging as an option for the group.