Australian Property Markets News’ Post

NAB Quarterly Australian Commercial Property Survey Q4 2023 Commercial property sentiment improved in Q4 but remained weak and below average Industrial and CBD hotel markets continued to out-perform in Q4, while retail and office weigh down the overall result. Office vacancies continued to creep up and capital growth expectations for office property over the next 2 years remain weak, particularly in Vic and to a lesser extent NSW. Notably, Q4 marked the highest print for office vacancies in Vic and NSW in the survey’s history. #property #cre #commercialproperty

JLL and CBRE Asia Pacific have jointly brokered one of the largest strata office transactions in Australia for 2024, with the sale of 1 Northcliff Street, Milsons Point for $12 million. Boasting an unparalleled harbourside position within Sydney’s premier Lower North Shore, the property offers sweeping panoramic views of Sydney Harbour, setting a new benchmark for commercial spaces in the area. This marks the first time the asset has been offered to the market since its completion in 1999. Willem Watson Harry Sullivan Angus Windred https://lnkd.in/gHvuQk-V #JLL #CBRE #PropertyNews

Capital Markets at JLL and Knight Frank are delighted to present a 50% interest in 135 King Street, Sydney; a rare investment opportunity combining super-prime flagship retail with A-grade office accommodation, set in one of the most sought-after locations for commercial property in Australia.   The 50% interest in 135 King Street is offered for sale via International Expressions of Interest closing Wednesday, 9 October at 4pm (AEDT).   For further information please reach out to myself or Luke Billiau James Barber Kate Low Andrew Rojek #jllcapitalmarkets #jll #capitalmarketsatjll #commercialrealestate

Capital Markets at JLL and Knight Frank are delighted to present a 50% interest in 135 King Street, Sydney; a rare investment opportunity combining super-prime flagship retail with A-grade office accommodation, set in one of the most sought-after locations for commercial property in Australia.   The 50% interest in 135 King Street is offered for sale via International Expressions of Interest closing Wednesday, 9 October at 4pm (AEDT).   For further information please reach out to myself or James Barber Kate Low Andrew Rojek Sandra Tan #jllcapitalmarkets #jll #capitalmarketsatjll #commercialrealestate

Capital Markets at JLL and Knight Frank are delighted to present a 50% interest in 135 King Street, Sydney; a rare investment opportunity combining super-prime flagship retail with A-grade office accommodation, set in one of the most sought-after locations for commercial property in Australia.   The 50% interest in 135 King Street is offered for sale via International Expressions of Interest closing Wednesday, 9 October at 4pm (AEDT).   For further information please reach out to myself or Luke Billiau Kate Low Sandra Tan Andrew Rojek #jllcapitalmarkets #jll #capitalmarketsatjll #commercialrealestate

Centuria Office REIT divests Brisbane fringe asset at book value - Knight Frank Australia and CBRE Australia’s largest listed pure-play office fund, Centuria Office REIT (ASX: COF), has exchanged unconditional contracts to divest 555 Coronation Drive, Toowong QLD for a contract price of $37.35million, consistent with its 31 December 2023 book value. Knight Frank’s Justin Bond and Blake Goddard and CBRE’s Jack Morrison and Adelaide O'Brien were appointed agents on behalf of Centuria. Belinda Cheung COF Fund Manager said, “COF has now divested four metropolitan office assets either at or close to their book values throughout FY24. These have been assets where the REIT has extracted value through a series of refurbishments and measures to improve amenity and sustainability efficiencies. “Most of Australia’s office transactions completed in the past 18 months have been for smaller scale assets below the $100million threshold, demonstrating market demand and a deeper buyer pool for assets in this category nationwide.” Read more about the transaction on COMMO linked below: https://lnkd.in/gHMKGyEY Centuria Capital Group CBRE Asia Pacific Knight Frank Bruce Baker Dominic Long Vanessa De Groot Sarah Clark RETalk Asia #cbre #knightfrank #office #brisbanerealestate #officebuilding #commercialrealestate

Capital Markets at JLL, on behalf of Mirvac, is delighted to announce the successful transaction of a 50% interest in 255 George Street, Sydney for $363.8 million to Keppel REIT. This represents the largest office commercial real estate transaction in Australia YTD.   255 George Street is 29 storey A-Grade office tower, with a high-quality tenant profile including the Commonwealth of Australia (ATO), Bank of Queensland and BUPA. The asset was largely occupied at the time of sale with a WALE (by income) of 6.4yrs and had undergone ~$50 million in recent capital expenditure upgrades.   This milestone transaction demonstrates that, despite the prevailing global office market headwinds, investors are recognising that Australia’s office market is highly resilient and decoupled from the North American experience.   We would like to congratulate both parties on the successful transaction, strengthening their existing partnership. Luke Billiau Simon Storry James Barber Sandra Tan Andrew Rojek James Holdsworth   #CapitalMarketsatJLL #JLL #CommercialRealEstate #JLLAus   *In conjunction with Cushman & Wakefield

This latest report from Savills on the size and structure of the UK #warehousing property market is key to celebrating #2024 as The Year of #Warehousing. https://shorturl.at/mrsuD

UPDATED POST SALE IMAGE: Ben Parkinson, Jack O'Leary ADDRESS: 104 Frome Street, Adelaide, SA 5000 MARKET: Adelaide CBD ASSET TYPE: Office Building   SELLER: Local private investor BUYER: Undisclosed AGENTS: Ben Parkinson, Jack O'Leary; JLL   SALE PRICE: $14,200,000 (6.88% yield) LAND SIZE: 1,693 sqm BUILDING SIZE: 4,387 sqm LAND SALE RATE: $8,387/sqm BUILDING SALE RATE: $3,237/sqm   NOTES: "JLL Head of Capital Markets - South Australia, Ben Parkinson said the property, sold on behalf of a local private investor, was the largest Adelaide CBD office transaction that has settled for more than 12 months. “The sales campaign resulted in more than 100 enquiries, reflecting a renewed interest in the Adelaide office market and the strong economic performance of South Australia,” he said. Mr Parkinson said the price point was attractive for a range of groups, including private investors, local and interstate syndicates and owner-occupiers, as it represented strong value considering the current construction costs..." (source: Commo.)   #adelaide #adelaidebusiness #adelaideproperty #adelaiderealestate #adelaidefinance #sa #southaustralia #saproperty #southaustraliaproperty #shoppingcenters #shoppingcenter #residentialinvestment #industrial #agedcare #industrialproperty #warehouse #warehouseproject #office #officebuildings #officeinvestment #hotels #hospitality #accomodation #hotelinvestment #retail #retailinvestment #officebuilding #realestate #property #tradedau #transactions #developmentsite #development #propertyinvestment #propertydeveloper #propertydevelopment #propertyfinance #land #investment #landbank #cre #commercialrealestate #commercialproperty #retailproperty #retailrealestate #australia #australianpropertymarket #australianproperty #australianrealestate #asiapacific TradedAU CapStack

OUT NOW | Colliers National Strata Initiative | 2024 National Strata Report Colliers stands out as the sole agency with a dedicated National Strata Platform in Australia. Our team of experts spans key locations, including Sydney CBD, Sydney North, Newcastle, Melbourne CBD, Melbourne Metro, Brisbane, Gold Coast, Adelaide, and Canberra. This extensive network enables us to provide localised expertise and insights, ensuring our clients receive the best possible advice and support. We’re committed to publishing insightful research specifically tailored to strata investors and occupiers. Our research includes comprehensive analyses of location-specific overviews, significant transactions, and major trends. This dedication to research helps our clients stay informed about the latest market developments and make well-informed investment decisions. Download a copy of the report here: https://lnkd.in/ghBR65nJ For further insights or to find out how we can accelerate your property requirements, contact Colliers’ National Strata Experts today. Christian Hatzis, Samantha Carroll, Matt Knox, Matthew Meynell, Doreen Castaneda, Quynh Tran-Faulks, James Mullin, Tom Appleby #ColliersAustralia #ColliersInvestmentServices #ColliersNationalStrata #Research #Property #Australia