Business

Simon Johanson

Property Editor at The Age and BusinessDay journalist for Fairfax's theage.com.au, smh.com.au, watoday.com.au and brisbanetimes.com.au.

Investment: The 7-Eleven petrol station at Springvale South sold for $4.725 million.

Small investors set petrol stations alight

Cadence Property Group has sold a 7-Eleven petrol station off-the-plan for $5.41 million as service stations and convenience stores with long leases continue to attract small investors.

The new Target head office will open at the end of 2018.

Cedar Woods sells Target headquarters for $58m

Discount retailer Target may be struggling with sales, but a head office it recently leased for a 10-year period in Melbourne's west has sold to Centuria Property Funds for $58.23 million.

Frasers struck leasing deals in its Wellington 2eleven estate in Mulgrave.

Tenants active in suburban business parks

Frasers Property Australia has netted $8.2 million from two 10-year lease deals, including one to Australia's largest childcare provider, at its Mulgrave "Wellington 2eleven" business park development.

Mandarin Oriental Group will operate a 196-key hotel in the Zaha Hadid-designed tower in Collins Street.

Mandarin Oriental to open in Zaha Hadid tower

Luxury hotel operator Mandarin Oriental Group will open its first Australian hotel in a stunning, vase-like Melbourne tower designed by the world's greatest female architect, Zaha Hadid, before she died unexpectedly last year.

Low interest rates and falling vacancy levels in Australia's office sector have spurred interest.

Office deals galvanise east coast markets

Yield-chasing investors have galvanised office markets as they run the ruler over a multi-storey complex in downtown Melbourne and a St Kilda Road office tower, just two of multiple deals in play along Australia's east coast worth up to $2 billion.