Columns
Residents' Association Image

Residents' Association

The parking dilemma?
Read more >>

Business in Southbank Image

Business in Southbank

Apartment living made easy
Read more >>

Owners Corporation Law Image

Owners Corporation Law

Not all liability policies are created equal
Read more >>

Federal Politics Image

Federal Politics

Maintaining commercial ties with China
Read more >>

We Live Here Image

We Live Here

Short-stays behind property price pain
Read more >>

Southbanker Image

Southbanker

A jack of all arts
Read more >>

History Image

History

ASBESTOS!!
Read more >>

Skypad Living Image

Skypad Living

Activating vertical villages
Read more >>

Health and Wellbeing Image

Health and Wellbeing

Soups, salads, patience and supplements
Read more >>

Councillor Profile Image

Councillor Profile

The making of a lord mayor
Read more >>

Pets Corner Image

Pets Corner

Rocket to the city
Read more >>

Southbank Fashion Image

Southbank Fashion

Spring racing in Southbank
Read more >>

Street Smarts Image

Street Smarts

Power Street – Southbank
Read more >>

Letters Image

Letters

Biased on school name
Read more >>

South Wharf Tower sold

11 Feb 2016

South Wharf Tower sold Image

By Ella Gibson

CBRE Global Investors and German fund manager Universal-­Investment have recently acquired South Wharf Tower.

The property was sold by real estate fund Deka-Immobilien Global, and the acquisition was made on behalf of one of Germany’s largest investors, Bayerische Versorgungskammer (BVK). The parties have agreed not to disclose the sale price.

CBRE managing director Andrew Glass said client demand to invest in Australia continued to be strong.

“It is consistent with our research view that domestic real estate markets will outperform on a global, risk-adjusted basis,” he said.

Managing director of real estate at Universal Investment, Alexander Tannenbaum, also told Southbank Local News that the Asian Pacific area was currently next to the United States as one of the preferred international real estate markets.

Tobacco giant Philip Morris has signed a long-term agreement to lease about 8000sqm of office space across three floors in the tower and plan to relocate its Moorabbin-based staff in August.

Managing director Nikitas Theophilopoulos said the company was looking forward to the relocation, stating that it would be “an outstanding location for the company’s new national headquarters”.

Stay in touch with Southbank. Subscribe to FREE monthly e-Newspaper.

You must be registered with Southbank Local News to be able to post comments.
To register, please click here.