Transactions - DECEMBER 16, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Two foreigners buy Australian offices for A$230m

by Andrea Waitrovich

Charter Hall Office Trust has sold two of its commercial assets for A$230 million ($168 million). The firm sold Avaya House at 123 Epping Road in Macquarie Park and 5 Queens Road in Melbourne.

Avaya House was acquired by partners B1 Group and China-based Shimao for A$118 million ($86 million). It is a class A, 10-story commercial and industrial building with three levels of basement parking for 534 cars. Its major tenants include Avaya Australia, Amgen, Hitachi Australia and Biogen Australia.

And 5 Queens Road has been sold for A$116.6 million ($85 million) to Singapore-based developer Tong Eng Group. The office is an 11-story hexagonal glass and granite building with basement parking for 323 cars. Tenants include Beca AMEC Ltd., Unico and PPD Australia.

Melbourne is experiencing a phase of extraordinary positivity that is extending across all of its property markets, according to JLL.

JLL’s analysis of intra-regional cross border trans

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy