ASX-listed IVE Group makes $61m deal for new facilities in Melbourne mumbrella.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mumbrella.com.au Daily Mail and Mail on Sunday newspapers.
The Singapore giant says a new focus on industrial property – of which it holds overwhelmingly Australian assets – has been vindicated by the pandemic.
Savills makes a $150m move on Mascot tower
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Savills Investment Management has acquired a Mascot tower, in Sydney’s south, in a $151.5 million deal with Fort Street Real Estate Capital as it steps up its expansion plans in the local market.
It is the second significant deal in the past fortnight for the deep-pocketed global investor, after it partnered with Elanor Investors Group to take control of the Clifford Gardens shopping centre in Toowoomba for $145 million.
The Mascot transaction for the office tower at 241 O’Riordan Street was struck on a yield of 6.5 per cent. The sale is subject to Foreign Investment Review Board approval.
H&M bolsters Australian presence with warehouse deal
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Industrial property platform Logos has fully leased its $330 million Marsden Park Logistics Estate in western Sydney after completing a 27,336sq m distribution centre for global fashion giant H&M and its sister retail brand, COS.
H&M Group has committed to a five-year lease at the purpose-built facility. Rental terms were not disclosed.
H&M and COS are the final tenants at Marsden Park Logistics Estate.
Prime industrial rents in Sydney average $123 to $136 per square metre, according to Colliers, potentially valuing the five-year deal in excess of $16.8 million.
The new H&M distribution centre is the seventh and final building at the 21.5 hectare site, where Logos kicked off construction two years ago.
Toolmaker Techtronic powers into $188m Sydney shed afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.