North Sydney Commercial Property News

The listed Abacus Property Group has quickly found a use for funds it had set aside for its now thwarted takeover play for the Australian Unity Office Fund.

Financial services giant Zurich Insurance’s turn as a developer has generated solid returns, with property heavyweight CBRE Global Investors swooping on its under-construction headquarters in North Sydney for about $350 million.

Diversified property company Stockland is making a major return to office developments and on Friday unveiled a major amalgamation play in the hot North Sydney market.

North Sydney is being pitched as the city’s next prime location for office tenants as the area gears up for a wave of new development, with the listed Lendlease looking to set fresh benchmarks with a planned $1 billion tower.

Singapore-based SC Capital is again looking to expand its local holdings, with the fund manager close to buying an office block in North Sydney for about $120 million.

Major developers are jostling to build a new office tower in North Sydney that could be worth about $330 million with the contest for the site drawing interst from heavyweights including US group Hines and local player Primewest.

For years it has been a part of North Sydney’s cherished retail history – now it could become part of its dynamic future. 

Sydney’s office tower boom is spreading through the city after a series of big-ticket deals in the central business district and an Asian investor swooping on a North Sydney office block for about $115 million in the latest play.

Media company Nine Entertainment Co has locked in a deal to consolidate its operations at its new headquarters in a $1 billion skyscraper in North Sydney.