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Struck in the final days of last year, the mooted deal augurs well for the retail real estate market in 2022, after transactions rose to a record $12.8 billion for the year.

Momentum from last quarter’s surge in deal-making is expected carry into 2022, notwithstanding the fresh outbreak of the omicron variant of COVID-19, which is pushing the health and testing systems to the limit.

The latest deal, struck on a yield below 6 per cent, also comes in a record year for Queensland’s retail real estate.

The transaction will be seen as one of the most definitive signs yet that trade in substantial retail assets has resumed after the upheaval of the last 18 months. 

Bank of China cashes out from legal precinct Normal text size Advertisement The first CBD deal for 2021 is out of the box with the Bank of China-owned building at 270 Queen Street understood to have sold for around $15 million. Records show Regis Capital Partners, which also has a Singapore branch, slapped a caveat on the title on January 21. The Bank of China has sold its building on Queen Street. Credit: The owners of the locally based arm of Regis are developer Tony Brady and property bankers James Pellicano and Kelvin Cheong. CBRE agents Nathan Mufale, Alex Brierley, David Minty and Jing...