Macquarie Park Commercial Property News

Office developers are focusing their attention on suburban areas as major tenants look for alternatives to city centres in the wake of the coronavirus crisis.

As listed travel companies respond to declining forward international travel demand by suspending guidance, hotel owners and investors yesterday came out swinging, announcing major acquisitions and refurbishments across the globe.

Apartment mogul Harry Triguboff has joined the growing band of developers buying out entire apartment blocks, with the acquisition of 60 units in an existing ­development in Sydney’s Macquarie Park.

Healthy demand for office space in suburban Sydney is prompting a series of new projects with Singapore-backed Frasers and the private Winten Property Group winning the deal of approval for a $750 million development.

Macquarie Telecom’s $80 million state-of-the-art data centre in Sydney has begun construction after earlier delays.

Property developer Stockland has received the green light to start work on the first stage of its $500 million commercial precinct in Sydney’s emerging northern industrial hub.

Property developer Stockland and Singapore-listed AIMS APAC REIT have locked in telco giant Optus at its Macquarie Park campus for another 12 years.

Funds manager RF Corval is back buying in the Sydney office market and has quietly picked up the Novartis Macquarie Park Building for about $62 million.

Property developer and builder John Holland is close to securing a buyer for the $350 million office complex it is undertaking in Sydney’s northern suburb of Macquarie Park, with the listed Growthpoint Properties Australia heading the field.