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The week in global real estate - 30 March 2021

The week in global real estate  30 March 2021

A weekly update of the biggest real estate news from around the globe.

Industrial

  • Private investment from Qualitas has invested $50M into the $500M Assembly Broadmeadows industrial precinct development. The new 305,000 sqm precinct is being developed by Pelligra Group on the former Ford assembly site in Melbourne's north. More info here.
  • AirTrunk opened the first phase of its SYD2 data centre campus in Sydney last week. The centre has a capacity of 110-megawatts and an industry-low PUE of 1.15. More info here.
  • New Jersey REIT Four Springs Capital Trust has purchased a 29,000 sqm industrial property leased to Amazon in Oklahoma City. The property is one of eight in a deal worth US$183M. More info here.
  • Boeing has put 125 hectares of commercial land up for sale in Frederickson, Washington. The land is part of the wider manufacturing facility in the area and includes two factories. More info here.
  • The UK’s public lands manager, The Crown Estate, is preparing to offer the largest leasing opportunity for commercial floating wind projects in the UK. There are currently six projects progressing, each approximately 300MW in scale. More info here.

Retail

  • Ikea’s mall business Ingka Centres has purchased the Shops at Aura Mall in the centre of Toronto, Canada. The mall is now part of a portfolio of malls across Europe, Russia and China to be anchored by Ikea stores as part of a shift towards inner-city store locations. More info here.

Hotels and tourism

  • IHG Hotels have confirmed they will be opening their 50th Voco hotel in Brisbane. The brand launched in 2018 and is focused on sustainability. More info here.
  • TFE Hotels have now opened their 241-room Quincey Hotel Melbourne. The hotel is offering bespoke customer service, a rooftop pool area and hawker food stalls. More info here.
  • Plans have been lodged for a 26-storey, 212-room hotel in Brisbane. The hotel uses a compact 402 sqm site. The hotel will be targeted at corporate travellers. An operator has not been announced. More info here.

Housing

  • Build-to-rent developer Assemble and not-for-profit housing provider Housing Choice are partnering to build more than 3,000 homes in Melbourne. Housing Choice will help manage the community housing. More info here.
  • NSW Land and Housing Corporation have lodged plans for a new social housing development in Sydney. The project replaces 19 existing units with 75 new homes. More info here.
  • Lendlease has accelerated plans for a $300M housing estate in western Sydney. The 28-hectare site was purchased from Universal Property Group in 2019 and has plans for over 350 homes. More info here.

Related Experts

Chris Farhi

Director | Strategic Advisory

Auckland CBD

Chris is a Director within the Strategic Advisory team. The team helps you with your big property decisions and complex transactions.

Chris' advisory work focuses on:

  • Decision making processes (eg property strategy, business cases, feasibilities, etc)
  • Tenant representation for large lease transactions (office,  industrial and specialist-use)
  • Multi-site networks (eg consolidation strategies, optimisation, etc)

Chris’ background in brief:

  • Property strategy advisor for some of New Zealand’s most successful private sector, public sector and non-for-profit organisations.
  • Tenant representative (tenant-paid lease negotiator) for organisations ranging from small-to-medium enterprises through to major listed companies and government agencies.
  • Specialist skills in commercial leasing, financial analysis and market research.
  • Part-time lecturer at the University of Auckland Business School and commercial leasing trainer for the Royal Institution of Chartered Surveyors.

Chris’ qualifications include Honours degrees in both Civil Engineering and Property from the University of Auckland, and a Master of Philosophy from the University of Cambridge, UK. He is a Chartered Member of the Royal Institution of Chartered Surveyors.

Outside of work, Chris is a combat engineer in the NZ Army Reserve and a keen baker.

View expert

William Silk

Analyst | Stategic Advisory

Auckland CBD

William joined the Strategic Advisory team as an Analyst  in the Auckland CBD office in 2019, after completing studies at The University of Auckland. 

Specialising in reseasrch, reporting and analysis to support strategic commercial proprety decision making. 

View expert