A-grade Commercial Property Insights

It is perhaps the most prestigious building in the heart of Sydney’s finance district that has housed some of the most colourful characters among the country’s corporate elite.

Singapore’s GIC Real Estate has capped a busy year for office investors by backing the purchase of Perth’s Exchange Tower for $326 million with the sovereign wealth fund betting that resources cities will set the pace next year as it supports a Primewest-run vehicle aiming to capture this growth.

A new venture between property executive Chris Lock and investment house Wingate has bought an Adelaide office tower for about $103.5 million in a sign of demand for assets in South Australia.

Sydney’s logistics property market is running hot with buyers swooping on more than $110 million worth of assets.

A clutch of deep-pocketed local and international investors have emerged in the running for a half-stake in the $1.8 billion Chifley Tower and Plaza in the heart of Sydney’s financial district, with Lendlease and possibly ISPT in the Australian brigade.

Charter Hall has emerged as the prime contender for the Mary Street tower in Brisbane’s central business district that is being sold by QIC Global Real Estate for about $300 million.

German fund manager Real I.S. has swooped on an office complex in Canberra’s government district, picking up Maddocks House for $29 million.

Malaysian pension fund Kumpulan Wang Persaraan Diperbadankan is looking to cash in on Melbourne’s emergence as a hot investment destination by bringing a tower worth about $200 million to market.

Global finance and insurance group Zurich Financial Services is looking to tap into the surge of interest in major towers in North Sydney and will offer the $350 million-plus building it is developing for sale.