Yesterday
Buyers snap up ageing and empty office buildings for deep discounts
Bargain hunting in the US office sector might just be the tip of the iceberg, more a sign of quick deal-making than an indication that prices have hit rock bottom.
- Matthew Goldstein
This Month
Restaurateur Chris Lucas to bring midas touch to $1b Cbus office tower
The property group is collaborating with the Melbourne restaurant king on the design of the hospitality precinct below its $1billion office tower at 435 Bourke St.
- Larry Schlesinger
Ultra-wealthy are betting on San Francisco’s comeback
Forget the gloomy forecasts of a doom loop. Powered by an AI boom and rebounding real estate demand, the city has halted population decline and is adding jobs.
- Karen Breslau and John Gittelsohn
Shaun Bonett’s Prezzee has a costly run-in with Amazon
The gift card payments group controlled by the billionaire has had to stop selling the popular vouchers in the US, undermining a key revenue stream.
- Primrose Riordan
Billions in CBD office tower sales to test valuations
The slew of assets being offered off-market comes as listed property giants gain confidence that the office sector disruption is finally bottoming out.
- Campbell Kwan
Why owner-occupiers beat investors for industrial property
There’s a soft rebound coming in sub-$40 million commercial property as rates ease, but different sectors face their own challenges.
- Michael Bleby
May
RBA’s asbestos-ridden HQ shouldn’t be sold, MPs say
The cost of renovating the RBA’s Martin Place headquarters has blown out fourfold to $1.1 billion, but forging ahead with the refurb is still the cheapest option.
- Michael Read
How Lendlease yanked the handbrake in Britain
The developer whipped up a $58 billion pipeline in barely a decade. As it goes into reverse, Australia’s super funds could be waiting in the wings.
- Hans van Leeuwen
Co-working is moving to the suburbs
With hybrid work the new norm, the industry is betting on sedate suburban and small-town locations where employees of big companies go to escape their homes.
- Justin Fox
Former analyst pays $48m for Brisbane office tower
Jacob Fong has taken a deep dive into the Brisbane office market and uncovered good buying opportunities in the city’s Midtown precinct.
- Larry Schlesinger
Cobbler counts the cost of fewer feet as CBD economies lose $4.3b
Cities are getting 370,000 fewer office worker visits every day compared to pre-pandemic, which has led to CBD-based businesses struggling to make ends meet.
- Campbell Kwan
Australian Unity Office Fund in exclusive DD for St Kilda property
Street Talk understands the $220 million market cap fund is in exclusive due diligence with a buyer for its St Kilda Road property.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Fund manager busy buying assets in a struggling office market
Brisbane-based Exceed Capital has snared its second office building in nine months and is now circling bigger CBD assets
- Larry Schlesinger
- Exclusive
- Centuria Capital Group
Why this $103m office on Sydney CBD fringe sold at no discount
Listed property fund manager Centuria has sold its Biomedical Building to Kurraba Group for $103 million.
- Campbell Kwan
RBA considers selling HQ as renovation blows out to $1.1b
The blowout, caused by large amounts of asbestos, makes the redevelopment of the RBA building one of the nation’s most expensive non-defence public works.
- Michael Read
Allens to be king of the hill in Sydney’s new legal district
Allens and four other law firms are set to move into the revamped AMP building at Circular Quay as a new legal district in Sydney develops towards the harbour.
- Maxim Shanahan and Campbell Kwan
Not a home office: cafe finds coffee and laptops don’t blend well
The same reasons that drove19th-century writers from their garrets have led office workers to colonise café tables.
- Jane Shilling
Melbourne shuns office return, Sydney coaxed by redundancy fears
New figures also show Canberra has the second-lowest office attendance rates as public service workers do not face the same scrutiny as Sydney’s private sector.
- Campbell Kwan
Singapore’s offices await a new wave of tenants
An eight-year cycle in which the tech industry provided demand for working space is coming to an end. Landlords don’t know who their next tenants will be.
- Andy Mukherjee
April
Another 10pc fall tipped for office tower values before bottoming
CBD office tower values have been battered by the shift to remote and flexible work, uncertain business conditions and high rates.
- Nick Lenaghan
