Commercial property deals

Strong growth in the IT sector is fuelling a flurry of activity in Brisbane’s office market, with firms capitalising on the current environment to upgrade their premises.

An Asian investor has snapped up the Woolworths-anchored Reedy Creek Village Shopping Centre, on the southern end of the Gold Coast, for $20.5 million.

SCA Property Group has followed news of a 23% profit lift with the purchase of Townsville’s Annandale Central Shopping Centre.

Developer the Willemsen Group has signed a multi-million-dollar long-term lease with the Commonwealth Department of Fin­ance for a new office building in Canberra near Parliament House. This article originally appeared on www.theaustralian.com.au/property.

Unlisted property manager Quintessential Equity will pay $45.25 million for a suburban Brisbane office building as it looks to ramp up its Queensland market exposure. This article originally appeared on theaustralian.com.au/property.

A private investor has paid $3.8 million for a Queensland vehicle showroom leased to a Jeep and Chrysler dealership.

Singapore-listed Ascendas Hospitality Trust has tapped advisers as it readies to bring the Pullman and Mercure hotel in Melbourne’s leafy Albert Park to market. This article originally appeared on theaustralian.com.au/property.

A service station complex on Melbourne’s West Gate Freeway has sold for $22.5 million, making it the most expensive petrol station sold anywhere in Australia in more than 10 years.

The Crotti family, behind the San Remo pasta brand, has bought one of the biggest office towers in Adelaide’s CBD for about $86.5 million. This article originally appeared on theaustralian.com.au/property.