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Ray White to Invest $100 Million in South Korean Mixed Use Project

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Thursday, 05 July 2012 00:47

LOCAL real estate group Ray White is reportedly considering investing $100 million in a South Korean real estate development at Gwangyang, on the less developed south-eastern coast of the country (map, right, with Gwangyang highlighted).

The move, part of a continuing low profile expansion into Asia, will see a residential and retail development developed in an area the central government is trying to encourage decentralization out of Seoul.

According to the AFR which reported the Gwangyang proposal in detail, the 2012 Expo is being held at the nearby town of Yeosu. It is in a city where most of Australia’s iron ore exports to South Korea are delivered for use at the Posco steel mill, nearby.

South Korea has long been a large commodities export market.


Masterplan Approved For New $3.3 Billion Township: Caloundra South

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Wednesday, 04 July 2012 08:00

PLANS for a $3.3 billion new community, known as the Caloundra South project, have advanced with the Queensland Urban Land Development Authority approving the master plan.

The project will be developed over the next 20 to 30 years by Sydney based developer Stockland.

It will include a new commercial centre with about 650,000 square metres of space. It will also include up to 20,000 dwellings capable of accommodating some 50,000 people.

The master plan includes infrastructure, environmental protection, open space, community facilities, commercial uses and housing. It will also include a new town centre, three district centres, six neighbourhood centres and an industrial zone.


Hilton to Build 8-Level, Upmarket Hotel in the Pilbara

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Wednesday, 27 June 2012 08:00

RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.

The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.

The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.

“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.


South Australian Department of Health Leases Torrensville Office-Warehouse, Adelaide

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Saturday, 30 June 2012 00:33

SOUTH Australia's Department of Health will pay $135,000 annual rent to occupy a 960 square metre office in Torrensville, two kilometres north of Adelaide.

The state department's lease at 81-83 Stephens Avenue (image, right taken from the online advertisement which has since been removed) is for an initial period of seven years, but includes two five year options.

The office and warehouse, on a corner site, has dual street access and loading, according to the AFR which reported the lease. The office is air conditioned and the reception areas fitted out.


Major Japan Builder Announces Eco-Friendly Coolum Residences, Sunshine Coast

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Thursday, 28 June 2012 05:26

HOMES which promise to provide “the most advanced eco-friendly design elements ever built in Australia” is being launched on the Sunshine Coast in Queensland.

The Coolum Residences will include photovoltaic roof tiles, insulated windows, wall ventilation and energy monitoring systems.

An announcement about the proposal and the developer – Japan’s largest home builder, Sekisui House, is copied below:


GPT Withdraws Half Share of MLC Tower After Failing to Draw a Bid

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Tuesday, 26 June 2012 20:43

FUND manager and developer GPT Group has withdrawn from the market its half share of Sydney's landmark MLC tower.

GPT was firm with its $373.2 million asking price.

As such, it is reported, no bids were received. The AFR reports about 30 international and domestic prospective buyers expressed an interest, however.


Calamvale Central Shopping Centre Sells For $62 Million

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Thursday, 28 June 2012 07:41

THE Australian Property Growth Fund, as trustee for the Domaine SEQ Growth Fund which is being wound up, has sold the Calamvale Central Shopping Centre in Brisbane for $62 million.

The sale price reflects a yield of passing yield of 8.15 per cent.

The 17,326 square metre complex at 662 Compton Road in Calamvale, in the city’s southern suburbs, is anchored by two retailers until 2027: Woolworths and Big W. It also includes 61 specialty stores.

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