Ben Wilmot

Commercial Property Editor at The Australian

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Articles

Cbus sells off North Sydney site in $240m deal to ALAND

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

Super fund Cbus, Neil Werrett’s Galileo Group and Justin Brown’s Abadeen have abandoned their long-held plans to develop a $700m apartment tower near the Sydney Harbour Bridge, quietly unloading the site to private residential developer ALAND. Sources estimated the sale of the East Walker Street site would have netted the $100bn Cbus super fund and its joint venture partners about $240m, having outlaid $180m for the site four years ago.
PAG opens the gate to $260m Melbourne tower purchase

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

Hong Kong private equity and real estate company PAG is again looking to snap up a Melbourne office tower at a time when many rival companies are steering clear of the city. The company is circling the Flinders Gate complex that adjoins Melbourne’s renowned Adelphi Hotel, with listed property group Dexus looking to sell it around the $260m mark after redeveloping the office complex five years ago.
Roberts Co bondholders chase payment amid claims of misusing safe harbour provisions

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

Tycoon Andrew Roberts will propose a deed of company arrangement for his collapsed building empire covering both the holding company and the Victorian arm whose heavy losses forced him to exit the industry. The holding company, which , disclosed at a Sydney meeting that it was facing claims from more than 265 creditors that amounted to more than $100m.
Goodman targets industrial revolution with data centres, robot-run warehouses by using AI

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

Industrial property giant Goodman Group is doubling down on its pivot into data centres but has been unable to escape the chill winds of geopolitical tensions and the Chinese property slow down. The company confirmed that its $85bn empire was on track, and it was locking in new partners to back its huge logistics and data centre projects, but warned that its industrial portfolio was being hit by uncertainty around international trade.
Super fund-backed manager ISPT, Aware Super and Lendlease are in sales mode

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

Sydney office buildings are being chased by major investors with superannuation heavyweights looking to shift assets worth close to $650m as values stabilise. In one of the largest moves, superannuation fund-backed manager ISPT is stepping up plans to sell off offices in Sydney, putting a long-held tower in North Sydney on the block that could reap about $220m.
Queensland and WA retail gems set to trade to AsheMorgan

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

Property group AsheMorgan is looking to add to its retail property holdings with the purchase of centres in the high growth states of Queensland and WA for a total of about $230m. The funds house has emerged as one of the most acquisitive players in this part of the property cycle and has picked up assets ranging from city offices to retail centres in the wake of the pandemic and interest rate shifts.
MA Financial makes retail splash with IPGeneration funds buy

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

The listed MA Financial Group has inked a deal to buy the growing IPGeneration property funds operation and will look to grow it as the retail property sector is in a sweet spot. The listed company, which counts Andrew Pridham as vice chairman, is buying the Melbourne real estate investment management for $90.4m, to be paid mainly in shares.
MA Financial makes retail splash with IPGeneration funds buy

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

The listed MA Financial Group has inked a deal to buy the growing IPGeneration property funds operation and will look to grow it as the retail property sector is in a sweet spot. The listed company, which counts Andrew Pridham as vice chairman, is buying the Melbourne real estate investment management for $90.4m, to be paid mainly in shares.
Giants BGO and PGIM pour millions into Sydney logistics

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

Big-name investors are piling into Sydney’s industrial property market, with Centuria Capital and US giant BGO joining forces to buy $200m worth of warehouses from Goodman Group. The duo have picked up three western Sydney warehouses from the sector giant. Separately, Charlie Buxton’s Cadence Capital has joined with PGIM Real Estate to buy an intermodal terminal in the city’s west at St Marys. The deals mark the latest in a run of portfolio transactions that have swept the industrial market.
GPT scores Canadian backer QuadReal for $1bn industrial play

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

The listed GPT and QuadReal Property Group have unveiled a new $1bn Australian logistics fund aimed at capitalising on the still hot demand for new facilities. While the sector is now coming back to the pack after outperforming in the years after the pandemic, there is still solid demand for space in major capitals. The move is in keeping with strategies by GPT chief executive Russell Proutt to shift from its passive ownership style and into taking on more development and funds management.