B-grade Commercial Property Insights

Funds manager AMP Capital has tightened its grip on the Sydney precinct surrounding Wynyard station, buying half stakes in two buildings in Carrington St worth about $500 million in their entirety.

Singapore-based Rockworth Capital Partners has swooped on an office building in Brisbane’s financial district in a deal worth more than $60 million.

Abacus Property Group has confirmed its purchase of a $95 million office tower in Melbourne’s busy St Kilda Rd corridor, in conjunction with Singapore-­listed Wing Tai Holdings. 

A pair of Singaporean groups, Roxy Pacific and Tong Eng. Group, are set to become the latest owners to cash in on Sydney’s office boom as they bring a Clarence Street building to market that could sell for than $160 million.

Sydney’s office market continues to run hot with the Mah family emerging as the buyer of a $90.8 million complex opposite Hyde Park while another nearby site that could sustain a major hotel development has hit the block.

Co-working giant Hub will open its second Melbourne space at the top of one of the city’s best-known skyscrapers.

Hong Kong tycoons and finance houses have set a fierce pace in buying Sydney towers over the past year, and their interest is expected to flow into 2018 as a tide of fresh capital pours out of the territory.

International funds managers are taking advantage of the stronger interest in Perth commercial towers to strike deals worth more than $120 million.

Investa Property Group’s main wholesale property fund has become the latest group to capitalise on the surging Sydney CBD office market by putting a Pitt St tower on the block for more than $200 million.