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Major Western Sydney resi development site sells at auction for $26+ million
In what is set to become Western Sydney’s next major residential development, a Sydney Based developer has acquired a 25,000 sqm site for just over $26 million, selling under the hammer at an auction held by Cushman & Wakefield and Next Commercial. The auction result is expected to be one of the most valuable development sites sold under the hammer in 2021.
Yosh Mendis • 29/04/2021
14 Stratton Street Newstead sold for $122.5m in two-tiered deal
The Charter Hall Social Infrastructure REIT (ASX: CQE) has finalised a deal to acquire a 100% freehold interest in the site at 14 Stratton Street, Newstead, Queensland, for $122.5 million representing a 4.84% yield. The transaction was completed through a sale and leaseback with well-regarded health group, Mater Misericordiae Limited (Mater).
Peter Court • 09/10/2020
Deka Immobilien acquires Melbourne office tower for $454 million
In one of the most significant Australian office market transactions since the COVID-19 pandemic, German investor, Deka Immobilien has acquired a 22 level A-grade office tower at 452 Flinders Street, Melbourne, from the Dexus Wholesale Property Fund for $454 million.
Luke Etherington • 11/09/2020
Cushman & Wakefield secures NAB facilities management contract extension
National Australia Bank (NAB) has renewed its national integrated facilities management services contract with Cushman & Wakefield for an additional four years to 2024. Cushman & Wakefield’s Occupier Services business has managed NAB’s portfolio since initially securing the mandate in 1998.
Jon McCormick • 23/07/2020
Cushman & Wakefield appoints Head of IFM at inflection point for the industry
Cushman & Wakefield has appointed industry veteran and former Brookfield Global Integrated Services (BGIS) APAC Managing Director, Jon McCormick, as its Head of Integrated Facilities Management (IFM) in Australia and New Zealand.
Jun Sochi • 05/07/2020
Flight to alternatives pushes CRE investment to new yearly high
Sustained investor appetite for alternative asset classes into Q4 2019, combined with elevated office market transactions, supported record yearly investment into Australian commercial real estate of $45.6 billion, according to Cushman & Wakefield research.
John Sears • 21/01/2020
Melbourne, Sydney office rental growth slows as leasing market turns
2019 marked a significant decrease in the rate of rental growth in the Melbourne and Sydney CBD prime office markets, as tenant demand slowed on softer business conditions, according to the latest Cushman & Wakefield quarterly Office Marketbeat.
John Sears • 13/01/2020
COVID-19 uncertainty drives sharp downturn in CRE investment
Amid the developing COVID-19 situation, Australian commercial real estate investment has fallen sharply in the first quarter of 2020, dropping to $3 billion, which is down 81% quarter-on-quarter from $15.9 billion in Q4 2019, of the second strongest quarter on record.
John Sears • 06/04/2020
671 Chapel Street to sell in excess of $52M
Melbourne-based private investor Harry Goles is bringing the development site at 671 Chapel Street in South Yarra to market, with an expected price guide of in excess of $52m.
Marcus Neill • 02/03/2020
Tony Denny’s Central Coast development portfolio hits the market for $40m+
Central Real, the residential development firm owned by Tony Denny, has appointed Cushman & Wakefield to sell a portfolio of six development sites located on the Central Coast of New South Wales. The portfolio is expected to collectively fetch more than $40 million.
Anthony Bray • 20/03/2020
Media Releases
Hybrid working pushes up corporate Australia’s carbon emissions
While lower occupancy has reduced the carbon footprint of many commercial office buildings amid the pandemic, higher CO2 emissions from hybrid working significantly outstrips these declines, according to data analysed by Cushman & Wakefield’s sustainability team.
Rebecca Jinks • 06/09/2021
National Program Services shortlisted for the Australian Defence Industry Awards 2021
Cushman & Wakefield has been named as a finalist in the Australian Defence Industry Awards for Estate Infrastructure Business of the Year.
Damon Bird • 30/08/2021
QLD’s first freestanding Guzman Y Gomez sells for $4.05m
A Sydney based high net worth private investor has acquired a freehold site leased to Guzman Y Gomez ‘sight unseen’. The property, located in the Queensland suburb of North Ipswich, sold for $4,050,000 which represented a low yield of 4.47%.
Michael Collins • 05/08/2021
Silverstone sells Coomera healthcare development site for $9.4m
Vital Healthcare Property Trust (Vital), managed by NorthWest Healthcare Properties Management Limited, has acquired a significant development site in Coomera on the Gold Coast for $9.4 million. The site at 187-195 Foxwell Road is situated within the ‘Coomera Health Precinct’, earmarked by Queensland Heath as the location for a new public hospital to service one of South-East Queensland's fastest growing population centres.
Mike Walsh • 24/07/2021
7-Eleven sells for $7.6m, sets record low yield in Queensland
A local investor has snapped up a 7-Eleven at 2009 Sandgate Road, Virginia, for $7.6m on a 5.14% yield. The low yield represents a new benchmark for a freestanding 7-Eleven in Queensland.
Michael Collins • 23/07/2021
$65m+ of alternative assets to go under the hammer as online commercial auctions return
Private investor demand for commercial property assets continues to run hot, with interest rapidly building for a portfolio of 12 properties being brought to market at Cushman & Wakefield’s next portfolio auction, livestreamed on 28 July. The online-only auction will be the first in 2021 amid tightening restrictions in NSW.
Michael Collins • 22/07/2021
Cushman & Wakefield strengthens PDS leadership team with two strategic hires
Cushman & Wakefield has today announced the appointment of Mitchell Wilson as the new head of Project & Development Services (PDS) and Maria Russo-Fama to Director, Client Services, to further accelerate the growth of the PDS business in Australian and New Zealand.
Tom Gibson • 05/07/2021
East coast CBD office markets continue gradual recovery
The decline in effective rents in the Sydney and Melbourne office market has begun to slow, with incentives showing further signs of tapering following sharp increases in 2020, according to Cushman & Wakefield’s Q2 Office MarketBeat.
John Sears • 28/06/2021
Sisters of Mercy Bring Iconic Bardon Hilltop site to market
The Sisters of Mercy have listed their Bardon property, previously the Congregation’s novitiate, for sale. The property is a 148,064 sqm amalgamation with views of the Brisbane CBD and towards Moreton Bay. The site holds significant development potential, suitable for a range of uses including multi-level residential, a large private home, land subdivision, education, retirement and aged care or even a health and wellness precinct.
Mike Walsh • 11/06/2021
Deague Group lists state-of-the-art Melbourne office building for $200m
Deague Group has brought one of Melbourne’s most innovative new office buildings at 101 Moray Street to market, set to reinforce South Melbourne’s status as an emerging media and technology hub. The building has a price guide of more than $200 million, reflecting a cap rate of approximately 5%.
28/05/2021
Major Western Sydney resi development site sells at auction for $26+ million
In what is set to become Western Sydney’s next major residential development, a Sydney Based developer has acquired a 25,000 sqm site for just over $26 million, selling under the hammer at an auction held by Cushman & Wakefield and Next Commercial. The auction result is expected to be one of the most valuable development sites sold under the hammer in 2021.
Yosh Mendis • 29/04/2021
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