A-grade Commercial Property Insights

The US consulate will move from Sydney’s CBD for the first time in 25 years, and into North Sydney. 

Brisbane’s office market has turned into a battle for the banks.

The acquisitive Centuria Capital Group has edged ahead of West Australian funds manager Primewest in the race to secure the prime position to buy an Adelaide office tower that US group Blackstone is selling for about $190 million.

A joint venture between Ashe Morgan and DMANN Corporation has secured approval for a 26-storey modern office block in Brisbane’s CBD as more developers seek to cash in on the city’s improving office leasing market.

The top end of Sydney’s office market has sprung to life with a series of deals being done early in the year and institutions keen to secure assets bidding on the remaining stock.

Canberra’s office market is again on the radar of local institutions, which wracked up a busy second half in 2017 after foreign buyers had set the early pace.

More Perth towers are on the block with the Charter Hall Group quietly putting its WorkZone West on the northern fringe of Perth’s central business district on sale with hopes of up to $140 million.

Manulife Real Estate, the global real estate arm of Canada’s biggest insurer, Manulife Financial, has bought Myer’s headquarters at Victoria Harbour in the Docklands for close to $300 million.

Some of the world’s largest landlords, facing weak growth in office rents and occupancies, are investing in what until recently was viewed as a niche office business catering primarily to technology start-ups and millennials.