Commercial

The Real Estate Institute of Victoria, the state’s peak representative body for real estate practitioners, is selling its long-standing headquarters at 335 Camberwell Road in a move expected to generate significant investor and developer interest.

The finishing touches have been placed on the landmark 88 Walker Street, North Sydney, with the $350 million 50-storey mixed-use tower now complete and proudly taking the title of North Sydney’s tallest building.

An incredible fully leased investment and landbank opportunity on 1,570sqm of prized Kew land has smashed expectations, selling for $12.18 million in another demonstration of the strength of the Melbourne commercial real estate market.

The commercial property markets have had a tough 2023, with interest rates growing at their fastest pace on record, making it difficult to obtain finance. As a result we have seen a significant reduction in investment activity with both listings and transaction volumes down and a shift in capital values across all asset types via a growth in investment yields.

Knight Frank is celebrating the 25th anniversary of the opening of its Townsville office.

Over the last three years there has been a significant increase in new business starts across the country. Many of these have been borne out of COVID-19 requirements bolstering some industries, while for some the entrepreneurial spirit resulting from job losses aiding in this growth. Encouragingly, we continue to see strong increases in new businesses and positive survival rates in some states and industry types. For some, the growing nature of their businesses requires commercial accommodation.

Historically there has been sizable investment into commercial assets outside of traditional metropolitan locations. Local private investors have been the greatest buyer type, while funds and trusts have looked to larger regional centres, particularly for retail assets. However, over the past few years we have seen new entrants speculating into these regions. Investment levels across regional Australia peaked in 2021 across all commercial asset types, however, the rising interest rate environment has seen a rapid turnaround in results.

JLL has sold a fully leased commercial property at 6 & 8 Moseley Street, Glenelg for $5 million at a yield of 4%, reflecting the ongoing demand for the popular High Street retail precinct.

The specialist commercial and residential property lender, Thinktank, has successfully closed its ninth commercial mortgage-backed securitisation (CMBS) issue for A$500 million.

In an rare opportunity to market, Colliers Queensland have the exclusive listing of one of Brisbane’s best commercial development opportunities on a 1.2 hectare industrial site in Rothwell.

A substantial commercial development site in the heart of one of Sydney’s most affluent and sought-after suburbs hits the market.

Charter Hall Group (Charter Hall or the Group) is pleased to announce that its Direct PFA fund has divested its leasehold interest in UNSW Kensington for a total consideration of $80 million.

Over the last ten years we have seen a growing number of buyers invest in commercial assets.

Preliminary analysis of commercial sales for the 2022/2023 period has resulted in $62.30 billion in sales across approximately 7,100 transactions.

Stonebridge National Investment Sales has launched its August Portfolio, following a successful 100% clearance rate at its most recent July Portfolio Auction.