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AMP, Westfield to Extend North Ryde's Macquarie Centre, Sydney

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Friday, 12 August 2011 00:00

AMP Capital Investors, with the Westfield Group, are set to redevelop the Macquarie Centre which they co-own in Sydney’s north.

The shopping centre upgrade will be the biggest undertaken in New South Wales for about ten years.

It will add a new David Jones store, a national supermarket chain and about 150 specialty stores – in a 30,000 square metre extension. Macquarie Centre is currently 96,500 square metres.


Leighton Holdings May Anchor 28,000 Sqm Perth CBD Office Building

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Wednesday, 10 August 2011 00:00

PROPERTY fund manager Charter Hall Group is reported to have snared construction giant Leighton Holdings as a tenant for a major Perth CBD office project.

Leighton is said to be considering a 28,000 square metre campus style office, part of Charter Hall’s new Workzone development at 202 Pier Street, on the Perth CBD’s northern tip (image of a building within the project, right)

The site, held by the Charter Hall Opportunity Fund No 5 (CHOF5), is due for completion in 2013, subject to pre-commitments.


Two Melbourne Train Stations Identified as Terminals For Sydney-to-Melbourne High Speed Rail Link

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Thursday, 11 August 2011 07:00

MELBOURNE’s Southern Cross rail station (pictured) – formerly known as the Spencer Street Station – could get a $2 billion upgrade, as part of plans to build a high-speed rail link to Sydney.

The rail tunnel, proposed within a federal government study last week, could cost between $61 billion and $108 billion.

The trip between Australia’s two most populated cities could take three hours, with the train reaching speeds of 350 km/h (outside of the capitals, where they’ll travel about 200 km/h). This compares to about an hour, by plane, or about nine hours by road.


Fridcorp Doubles the Density of Controversial South Yarra Apartment Tower

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Sunday, 07 August 2011 00:55

BOUTIQUE builder Fridcorp has redesigned and rebranded the controversial $120 million South Yarra apartment proposal that it bought into a couple of months ago.

The site, on the south-west corner of Chapel Street and Alexandra Avenue and opposite the Yarra River, has for some 18 months been marketed as Tresor – a 14-level tower which would have included 99 luxury apartments (artist impression, right).

Network Nine executive director Jeff Browne was one of Tresor’s highest profile buyers, paying a reported $5 million for a four-bedroom unit, off-the-plan.


Northcote Aged Care Facility to be Sold

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Saturday, 06 August 2011 00:48

ANOTHER religious based group is disposing a prime located suburban asset, which is likely to be redeveloped as flats.

This time, in Northcote, Churches of Christ Community Care is selling the former Fred Combridge House aged facility at 1A Campbell Grove, and high on Ruckers Hill (aerial image, right).

The former 30-bed facility is spread across a 2712 square metre site, and, according to Fitzroys selling agents Charles Emmett and Geoff Emmett, is expected to arouse developer interest and sell for between $5 million - $5.5 million, reflecting a rate per square metre of land, of approximately $1850 - $2000.


Charter Hall to Sell 150 Queen Street Office, Melbourne, at a Loss

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Monday, 08 August 2011 00:00

SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak.

A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities.

The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building.


Orchard to Sell Gold Coast's Chevron Renaissance Shopping Centre

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Friday, 05 August 2011 00:00

GOLD Coast’s Chevron Renaissance Shopping Centre (pictured, right) has been listed for sale.

The complex is expected to sell for about $79 million which would reflect a yield of about 9 per cent.

The 13,076 square metre centre has parking for 300 cars. It’s anchored by a Coles supermarket and two mini majors and also has space for 50 specialty stores. It also includes 18 office suites.

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