Mar 08 2017Add to Favorites
Carolyn Cummins, The Sydney Morning Herald
Investors are seeking a foothold in the booming Sydney office market with new assets worth more than $500 million up for grabs as the owners take advantage of the high demand.
One of the latest sales, as first revealed by Fairfax Media last year, is 20 Bridge Street, Sydney, the home of the Australian Securities Exchange, which has had unsolicited offers of up to $250 million and suggestions are it could reap as much as $325 million in the current strong market.
SOURCE: The Sydney Morning Herald
Home loan approvals have fallen significantly off the back of the APRA and the Royal Commission initiatives together with new Responsible Lending Criteria. The ABS recently reported that home loan approvals have fallen by 13.6% year on year and within that, investment loans have come back by c.20%
Off the back of successfully settling a $48m syndicated first mortgage for a residential apartment development in Sans Souci just weeks ago, Sydney-based real estate investment manager Centennial Property Group (CPG) opened a new fund with a focus on the industrial and logistics market, Centennial Industrial and Logistics Fund II (CIL II). The fund, available only to wholesale and private high net worth investors, opened on 1 November and was seeking to raise c. $38 million. CPG closed the fund less than two weeks later, well before the official close date, due to oversubscription.
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