COMMERCIAL PROPERTY, SALES & LEASING
A JOINT venture between Singapore-listed companies UOL Group and Singapore Land Group (SingLand) has confirmed its acquisition of Brookfield’s half-stake in Sydney office...
The deal has been long-mooted in property circles and comes in on a yield of around 6.2%, reflecting the softening in office values in recent years as the...
388 George Street is an A-grade 30-storey commercial building with two-storey basement parking and five-storey retail and commercial podium building that includes luxury retail...
Located on a 3,353 sqm site at the corner of George Street and King Street, the 28-storey tower has a weighted average lease expiry by income of around 6.2 years...
UOL Group and SingLand join Investa Gateway Office Fund, owned by Oxford Properties and Hong Kong’s Link REIT, as co-owners of the tower. Investa will manage the tower...
UOL said the acquisition is in line with the group’s plan to “diversify its presence in Australia and to strengthen recurring income streams”...
The joint venture with UOL will enable SingLand to mitigate risks and take on more projects to diversify its property portfolio and tap on the expertise and network of...
Falling values
The transaction arrives after a sustained period of falling values in the office sector, crystallised by a recent run of deals. Hong Kong toy billionaire Francis Choi has just copped...
Choi’s off-market divestment was struck at more than 10% below the $220 million-plus he paid Blackstone for the asset late in 2017, and he had spent a further...
Meanwhile, Cbus Property is spending $310 million to acquire a 50% share of 5 Martin Place in the Sydney CBD, as reported by Australian Property Journal. That...
Mirvac has just divested the 40 Miller Street, North Sydney office building to Barings for $140 million, and 367 Collins Street in Melbourne for $345 million, with both...