Ben Wilmot

Commercial Property Editor at The Australian

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Articles

Traders In Purple development firm buys two Sydney sites

1 week ago | realcommercial.com.au | Ben Wilmot

Property developer Traders In Purple has bought two premium residential development sites on Sydney’s north shore where it plans to roll out projects worth $560m. The move comes as analysts tip more buoyant conditions for housing as stimulatory election policies flow through the system. Traders In Purple is planning 80 luxury apartments on a consolidated 5900sq m site at 46-50 Cowan Road, St Ives, fronting Pymble Golf Club.
Manulife stakes claim in local industrial market with Sydney warehouse buy

1 week ago | realcommercial.com.au | Ben Wilmot

Global giant Manulife Investment Management has forged into the local industrial sector with the purchase of a warehouse in the Sydney suburb of North St Marys for $56m. The company picked up the property at 243 Forrester Road from a venture between local company Centennial and private equity firm KKR. The deal adds to Manulife’s local holdings, which include a half share in the under-construction office tower at 39 Martin Place in Sydney’s CBD that it owns alongside funds manager Investa.
Consulting firm EY commits to its Sydney CBD base for at least the next decade

1 week ago | realcommercial.com.au | Ben Wilmot

The race is on for top office space in Australia’s capitals with top tier firms running out of options to house staff in prime towers. After years of negative sentiment in the wake of the pandemic about the state of the office market, big companies are now signing up to spaces they believe they will need in a recovery.
Watering Holes adds North Sydney’s Union Hotel to the tab with $22m buy

1 week ago | realcommercial.com.au | Ben Wilmot

The Good Beer Group has sold The Union Hotel in North Sydney to Ashton Waugh’s Watering Hole Hotels business for $22m. The purchase took Watering Hole to 15 venues across NSW. “We’re delighted to acquire this significant Sydney freehold hotel and, in doing so, continue to deliberately expand our group into both metro and regional areas,” Mr Waugh said. The sale was brokered by HTL Property agents Dan Dragicevich, Andrew Jolliffe and Sam Handy.
Mirvac offloads three Sydney Harbourside apartments for $65m

1 week ago | realcommercial.com.au | Lisa Allen |Ben Wilmot

Cashed-up buyers have splurged $64.5m buying out all three sub-penthouses in Mirvac’s Harbourside Residences tower in Sydney in some of the biggest residential deals of the year. The buyers have spent $24.5m, $20m and a further $20m securing all available off the plan four-bedroom sub penthouses on level 46 of the yet to be built 48-level tower.
Stockland nabs Waterloo estates deal amid housing crunch

1 week ago | realcommercial.com.au | Ben Wilmot

Listed property companies are stepping up and backing solutions to the housing crisis, with residential giant Stockland signing a multibillion-dollar deal to transform Sydney’s Waterloo estates. That transaction, alongside consortium partners Link Wentworth, City West Housing and Birribee Housing, will see it develop more than 3000 homes, including an affordable component. The developer beat interest from a rival consortium led by Lendlease.
Super fund manager to exit Brisbane tower

2 weeks ago | realcommercial.com.au | Ben Wilmot

Superannuation fund-backed manager ISPT has put the Green Square North Tower on the block as major investors turn their attention to Brisbane, with the price below $200m expected to spark a contest. Large office players are chasing towers in the Queensland capital due to its strong rental performance and as Sydney landlords keep a tight grip on their assets, despite many fielding offers above book values.
Investors to chase office gold as block beside Games village up for grabs

2 weeks ago | theaustralian.com.au | Ben Wilmot

Superannuation fund-backed manager ISPT has put the Green Square North Tower on the block as major investors turn their attention to Brisbane, with the price below $200m expected to spark a contest. Large office players are chasing towers in the Queensland capital due to its strong rental performance and as Sydney landlords keep a tight grip on their assets, despite many fielding offers above book values.
Sparks fly at Westfield owner’s annual meeting over share price

2 weeks ago | realcommercial.com.au | Ben Wilmot

Shopping centre giant Scentre, owner of the local Westfield empire, has come under attack from shareholder activist David Kingston for its lacklustre performance over the last decade, with the listed company’s chairman Ilana Atlas defending its record at its annual meeting in Sydney.
Slice of $800m Perth office tower up for grabs

2 weeks ago | realcommercial.com.au | Ben Wilmot

Canadian property heavyweight Brookfield will look to sell a one quarter stake in the $800m Chevron headquarters in Perth in one of the biggest tests of demand for top end buildings in the WA capital after the pandemic. The move is partly a bet international and local heavyweights will chase prime office assets amid global share market turmoil, which could drive them into the direct property market.