ACT Commercial Property News

A Top End fishing lodge and adventuring business in the Tiwi Islands continued to attract prospective buyers, sparking an astounding amount of interest in the commercial property market last week.

Multi-billionaire Harry Triguboff has stopped construction of a serviced apartment tower in the heart of Melbourne and ditched plans for the development of others towers in Canberra and the western Sydney hub of Liverpool, saying it is too risky to pursue further hotel projects at this time.

Tony Fung’s listed casino company Aquis Entertainment remains open to offers to buy the Casino Canberra in the wake of a deal to sell it to Sydney-based funds manager iProsperity Group collapsing in January.

ACT commercial property tenants and landlords have been impacted dramatically by the coronavirus, with businesses hit hard through lockdowns and a subsequent loss of trade. So what support is available for ACT tenants and landlords …

Commercial property has started 2020 with a bang, as buyers and businesses circle key properties across the country.

The sale of 33 convenience retail outlets owned by 7-Eleven is being heralded as one of the most successful commercial portfolios in history, after every one of the properties sold for a combined $156 million.

Gaming mogul Tony Fung’s deal to sell the Casino Canberra has been terminated as the vendor refused to give prospective buyer, Sydney-based funds manager iProsperity Group, more time to win regulatory approval to buy the property.

A brand new Sebel hotel in Canberra has sold for $48m to DWS, a global real estate investment manager, and Pro-Invest.

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.