A-grade Commercial Property Insights

US oil and gas giant Chevron will stay in its existing St Georges Terrace digs until the end of 2023 while Brookfield builds its new headquarters tower at Perth’s Elizabeth Quay.

The listed Investec Australia Property Fund is bringing a Fortitude Valley office block to market with hopes of reaping more than $90 million, as investor interest in the city surges.

The premium end of Sydney’s commercial property market is headed for greater heights, with US private equity group Blackstone looking to strike a series of deals involving about $3 billion worth of the city’s best office towers.

Property developer and builder John Holland is close to securing a buyer for the $350 million office complex it is undertaking in Sydney’s northern suburb of Macquarie Park, with the listed Growthpoint Properties Australia heading the field.

More than $1 billion worth of towers in the western Sydney hub of Parramatta are in play with Charter Hall Direct’s PFA Fund to become the latest seller by putting Wentworth Place on the block.

Property heavyweight QIC Global Real Estate has heavy interest in Brisbane’s landmark Q&A Centre, with the Shayher Group leading the pack for the asset that is tipped to sell for more than $400 million.

Shimao Group, controlled by Hui Wing Mao, has proposed an ultra-luxury tower overlooking Sydney’s Hyde Park that would be worth more than $1bn after the Chinese-Australian billionaire dumped plans to sell a half stake in the office block on the site last year.

Singapore’s Soilbuild REIT has extended its office empire in Australia by purchasing a $134.22 million tower in Adelaide’s central business district from Credit Suisse’s asset management arm.

The listed Cromwell Property Group has finalised the largest property investment in Brisbane this year, buying a George Street office block from US private equity group Blackstone and German group HSBC Trinkaus for $524.75 million.