Here is a round-up of the biggest property deals and approvals throughout Australia for the week of 1 – 5 June:
Sentinel's $21.55 Million Acquisition of Bathurst Shopping Centres
Sentinel Property Group has acquired a trio of local shopping centres in north-west NSW from Chart Hall Retail REIT for a total consideration of $21.55 million.
The newly acquired Bathurst Chase Shopping Centre, Kiertah's Shopping Square in Narromine, and Coles Wellington are all anchored by Coles Supermarkets.
The acquisitions serve to expand the number of retail assets under the Sentinel Countrywide Retail Trust to a total of seven, alongside shopping centres in Emerald and Townsville in Queensland and Dubbo in NSW.
Approval of $430 Million Zaha Hadid Development in Brisbane
The $430 million "Grace on Coronation" residential project in the inner west of Brisbane has obtained the green light from the Brisbane City Council for development.
The three-tower residential development, located on Coronation Drive where the ABC studios were previously situated, promises to be an iconic addition to the region. The striking design by acclaimed architect Zaha Hadid consists of a trio of glass towers in the shape of elongated tulips.
Two of the towers will be 24 storeys in height and the remaining one seven storeys, providing a total of 555 units as well as retail facilities and parkland.
Corval Sells North Sydney Office Tower for $58 Million
The property fund managed has reportedly sold its 16-storey office block at 140 Arthur Street to HK Realway for $58 million via Knight Frank agents.
The tower is host to 8,300 square metres of net settable space as well as parking for 84 vehicles. Under the existing B3 zoning, the property has the potential to be redeveloped into a residential building or hotel and motel containing as many as 250 serviced apartments.
$61 Million Acquisition of Gold Coast Residential Development by Sunland Finalized
The acquisition of the 42-hectare "Lakeview" residential development at Mermaid Waters on the Gold Coast by developer Sunland for a consideration of $61 million has been settled.
The site is considered to be one of the biggest large-scale development areas in the region, featuring a lake at its centre as well as direct access to the sea and canal front land.
Australia's First "Auto Mall" Could Be Headed for Brisbane Airport
Brisbane Airport Corporation (BAC) has revealed plans for an automobile retail and servicing district just adjacent to the airport.
According to BOC CEO Julieanne Alroe, its Airport Central "auto mall" will be the first of its kind in Australia if successfully realised.
"Top dealerships would be brought together at a landmark new destination at Brisbane Airport," said Alroe. "Flagship auto retailing will sit alongside offices, exhibition and event areas all located around Mark Skaife-designed driving test track."