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Good afternoon,
US funds management giant Hines is in talks to buy the 121 Castlereagh office complex in the heart of the Sydney CBD from Cbus Property in a deal worth about $220m. Australian construction contractors are copping escalating material and fuel costs rather than passing them on to developers, amid a fierce tendering environment that is squeezing their operations.
A wealthy publican family have shelled out about $100m to buy the Royal Oak Double Bay hotel in Sydney’s wealthy Eastern Suburbs.
Let me know what you think -
wilmotb@theaustralian.com.au
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