Firehouse pub sale to raze the roof as long-time owner sounds siren for last drinks
In Sydney's eastern suburbs, the 42-room, six-storey boutique accommodation asset, UME Potts Point at 39A Elizabeth Bay Road, has been sold to Carpe Diem Partners, which recently bought the sister boutique site, UME Potts Point, for about $7.98 million.
The private fund is run by former Goldman Sachs banker Simon Wheatley and will add to its growing portfolio, which has a focus on developing more assets in the burgeoning co-living property sector.
The combined Mollymook and Potts Point sales were worth about $20 million.
HTL Property's Andrew Jolliffe and Andrew Jackson advised on the sales, while Ray White Commercial also worked on the Potts Point deal.
Ampol HQ
Fuel refiner and retailer Ampol is raising cash through the sale of headquarters in the heart of Sydney's south with a price tag of about $100 million.
The 9475-square-metre site at 29 Bourke Street, Alexandria, covers four levels with a six-year lease to the group. There is an architecturally designed atrium, advanced end-of-trip facilities and a six-star NABERS Energy rating.
The Colliers team of Michael Crombie, Adam Woodward, James Mitchell and Gillian Kaplan are advising on the sale.
Ampol is also selling a portfolio of 13 development sites around the country. Included is a mix of metropolitan and regional locations, spanning five states with sites ranging from 1265 sq m to 3073 sq m.
Included are properties Tumbarumba, NSW, and Portland, Victoria. They are undeveloped and come with flexible zoning in many locations.
The ASX-listed group told investors on Wednesday that its first-half earnings before interest and taxes were expected to total $400 million, compared with $502.1 million reported last year.
It said tighter refining margins and a 6.1 per cent fall in first-half sales volumes during the period were partly offset by stronger sales in its convenience retail operations.
The portfolio is being sold by Cushman & Wakefield's Queensland-based Daniel Cullinane.
Area 53 deal
Known as Area 53, the 6.5-hectare site dedicated to life science and innovations in Sydney's north has been bought by joint-venture partners Wentworth Capital and BlackRock for $200 million.
The property at 5-11 and 14 Julius Avenue, North Ryde, was the former home to CSIRO for nearly 60 years and other government tenants and is located within the Macquarie Park Innovation district, which is home to medical/pharma businesses including AstraZeneca and Cochlear.
It comprises 12,000 square meters of purpose-built laboratory space alongside 40,000 square meters of surplus developable land. There is a 95 per cent occupancy of which government tenants account for 70 per cent of rental income.
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"As previously disclosed to the ASX, the parties reached agreement over the proceedings in February 2025. The Federal Court's approval formally disposes of the proceeding," Webjet said. Travel giant Webjet has been slapped with a $9 million fine after admitting dozens of customers were slugged with hidden fees. The Federal Court ordered the flight comparison site to pay $9 million on Monday for making false or misleading statements about the price of flights and booking confirmations. In a case brought by the Australian Competition and Consumer Commission (ACCC) in November 2024, Webjet acknowledged that between 2018 and 2023 it advertised airfares that excluded compulsory fees ranging from about $35 to $55. The fares were advertised on its website, in promotional emails and on social media posts. The Webjet fees represented 36 per cent of the ASX-listed firm's total revenue in the period from November 1, 2018 to November 13, 2023. 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In its social media posts, Webjet didn't disclose the additional fees at all. The commission said Webjet admitted liability and it would also foot the bill for some of the ACCC's legal costs. The online travel agency said in a statement on Monday it had come to an agreement with the commission in February. "As previously disclosed to the ASX, the parties reached agreement over the proceedings in February 2025. The Federal Court's approval formally disposes of the proceeding," Webjet said. Travel giant Webjet has been slapped with a $9 million fine after admitting dozens of customers were slugged with hidden fees. The Federal Court ordered the flight comparison site to pay $9 million on Monday for making false or misleading statements about the price of flights and booking confirmations. In a case brought by the Australian Competition and Consumer Commission (ACCC) in November 2024, Webjet acknowledged that between 2018 and 2023 it advertised airfares that excluded compulsory fees ranging from about $35 to $55. The fares were advertised on its website, in promotional emails and on social media posts. The Webjet fees represented 36 per cent of the ASX-listed firm's total revenue in the period from November 1, 2018 to November 13, 2023. "Seeking to lure in customers with prices that don't tell the whole story is a serious breach of the Australian Consumer Law," the commission's chair Gina Cass-Gottlieb said. "Retailers must ensure their advertised prices are accurate. They should clearly disclose additional fees and charges." The ACCC commenced its investigation after one consumer complained about an airfare advertised for $18, which ended up costing almost three times that amount after the compulsory fees were added. The Webjet fees comprised the "Webjet servicing fee" and "booking price guarantee" fee, which ranged from $34.90 to $54.90 per booking. They depended on whether the flights were domestic, to New Zealand and the Pacific or other international destinations. While Webjet's website, app and most emails contained information about the additional fees, they were in the fine print near the bottom and not clearly communicated to customers. In its social media posts, Webjet didn't disclose the additional fees at all. The commission said Webjet admitted liability and it would also foot the bill for some of the ACCC's legal costs. The online travel agency said in a statement on Monday it had come to an agreement with the commission in February. "As previously disclosed to the ASX, the parties reached agreement over the proceedings in February 2025. The Federal Court's approval formally disposes of the proceeding," Webjet said. Travel giant Webjet has been slapped with a $9 million fine after admitting dozens of customers were slugged with hidden fees. The Federal Court ordered the flight comparison site to pay $9 million on Monday for making false or misleading statements about the price of flights and booking confirmations. In a case brought by the Australian Competition and Consumer Commission (ACCC) in November 2024, Webjet acknowledged that between 2018 and 2023 it advertised airfares that excluded compulsory fees ranging from about $35 to $55. The fares were advertised on its website, in promotional emails and on social media posts. The Webjet fees represented 36 per cent of the ASX-listed firm's total revenue in the period from November 1, 2018 to November 13, 2023. "Seeking to lure in customers with prices that don't tell the whole story is a serious breach of the Australian Consumer Law," the commission's chair Gina Cass-Gottlieb said. "Retailers must ensure their advertised prices are accurate. They should clearly disclose additional fees and charges." The ACCC commenced its investigation after one consumer complained about an airfare advertised for $18, which ended up costing almost three times that amount after the compulsory fees were added. The Webjet fees comprised the "Webjet servicing fee" and "booking price guarantee" fee, which ranged from $34.90 to $54.90 per booking. They depended on whether the flights were domestic, to New Zealand and the Pacific or other international destinations. While Webjet's website, app and most emails contained information about the additional fees, they were in the fine print near the bottom and not clearly communicated to customers. In its social media posts, Webjet didn't disclose the additional fees at all. The commission said Webjet admitted liability and it would also foot the bill for some of the ACCC's legal costs. The online travel agency said in a statement on Monday it had come to an agreement with the commission in February. "As previously disclosed to the ASX, the parties reached agreement over the proceedings in February 2025. The Federal Court's approval formally disposes of the proceeding," Webjet said.
