Interests associated with the Cohen family, founders of vacuum cleaner chain, Godfreys, have pocketed $27.64 million from the sale ofRead more
Altis Property Partners has sold two large-format retail assets on Australia’s east coast for a total of $282.4 million. TheRead more
Tytec Logistics Pty Ltd has leased a major warehouse in the outer western Brisbane suburb of Swanbank for 10 years.Read more
Not for profit community organisation YMCA has paid $1.75 million for a former aged care facility in Ipswich, in south-eastRead more
Charter Hall is paying $22 million for a hotel and retail asset on 1.1 hectares of land in Waterford West,Read more
Queensland Investment Corporation is preparing to offer a portfolio of assets worth more than $2 billion on Australia’s east coast.Read more
Crown Development Group has paid $35 million for a 1.25 hectare development site in Brisbane’s inner west. The acquisition ofRead more
Downer EDI Limited is proving to be a valuable tenant for AMP Capital. The infrastructure, mining and rail giant hasRead more
Manchester-based retailer JD Sports has swooped on a prominent Brisbane CBD space until recently occupied by Topshop and Topman. TheRead more
Dexus is paying $188 million for three industrial development sites on Australia’s east coast. The biggest property by area, inRead more
Global supermarket giant Kaufland appears to be continuing to snare prominent Australian sites – this time in Burleigh Heads onRead more
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:Read more
THE federal Labor government’s carbon tax has been blamed for a spike in rates, to be passed on by Australia’s largest council next financial year.
Brisbane Lord Mayor Graham Quirk said the average ratepayer will face an increase of $54.62 per annum – reflecting a 4.5 per cent jump.
Mr Quirk said this rate could have limited to $31.48 a year (representing 2.6 per cent) if the carbon tax was removed.Read more
SENTINEL Property Group has paid $15.6 million for the Northpoint Homemaker Centre in Mackay, Queensland.
The purchase is the second bulky goods complex acquired by the group in the state after it paid $25.75 million last December for The Zone complex at Rothwell.
The Mackay investment occupies a 29,191 square metre site, and has 11,407 square metres of net lettable retail area. It is leased to ten retailers including the listed Super Retail Group and The Good Guys.
The vendor according to the AFR which reported the deal was the 360 Capital Retail Fund.Read more
HALF a billion has been invested around Brisbane’s Queen Street Mall this year.
ISPT has been the biggest player, spending $100 million refurbishing the Wintergarden Shopping centre which included building a colourful thatched façade. The Melbourne based company also purchased a half share of the Myer Centre for $366 million, and invested another $60 million on the Broadway on the Mall complex.
Toward the casino the Blackstone owned Balad is selling 60 Queen Street for an expected price of between $30 million – $40 million.
The Brisbane City Council is looking to replicate Melbourne’s successful laneway retail concept with the Burnett Lane complex.Read more
THE largest supermarket in Oakley, a satellite town near Toowoomba in Queensland sold at auction last week for $6.1 million.Read more
THE list of major tenants seeking office space in and around Brisbane is growing but agents do not expect this to translate to a massive rise in rents.
An Origin Energy joint venture, with its Australia Pacific LNG partner, is seeking 12,000 square metres by 2014, increasing to 30,000 square metres in 2016.
Pathology group Sullivan Nicolaides is considering a lease of more than 10,000 square metres – about the same as iron ore giant Vale, and advisory KPMG
The requirements come after Suncorp which had a requirement of 30,000 square metres agreed to move to the 42,000 square metre Southport Tower outside of the CBD owned, according to the AFR, by Anthony John Group.Read more
BILLIONAIRE businessman John Van Leishout is understood to be paying some $40 million for the Seahaven Resort in Noosa, Queensland.
First listed for sale more than 18 months ago, and later reported as a deal that fell through, the resort at 9-21 Hastings Street includes 48 one and two bedroom apartments, 12 retail shops and a car park.
It spreads over a site of 4722 square metres – and has 100 metre frontage to the beach (pictured, right).Read more
BANK of Queensland will relocate its headquarters to an as-yet-unbuilt $1 billion mixed use project in Newstead, in Brisbane’s inner north.
The bank has signed a 12-year lease for 12,500 square metres of space. That is about a 50 per cent increase on the amount of office space the bank currently leases, in two Brisbane CBD buildings.
The bank is reportedly paying about $500 per square metre per annum for the space.Read more
A prominent Surfers Paradise office tower has been withdrawn from the market.
Chung Gold Coast, linked to Brisbane businessman Albert Chung, has tried to sell the 50 Cavill Avenue office since late last year.
The 21-level, 17,000 square metre office tower (pictured, right) failed to attract officers “in line with expectations”. Mr Chung paid about $55 million for the office in 2004. The Australian did not report the price 50 Cavill Avenue was expected to sell for this time around.Read more
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.Read more
HARDWARE giant Bunnings has paid $20.6 million for two hectares of land in the Brisbane suburb of Newstead. The WesfarmersRead more
FINASUCRE, from Belgium, is looking to expand its Queensland land bank.
The company has been operating in Queensland for 10 years and has amassed 11,000 hectares of land.
“There are properties of around 200 hectares that we’d like to buy in the next few months,” Finasucre Investments Australia managing director Jerome Lippens told the AFR. It’s looking around the Bundaberg area.Read more
AGRICULTURAL Land Trust has sold an investment property in north Queensland for $11 million. The trust told the AFR, whichRead more
FORMULA 1 racing driver Mark Webber (pictured, right) is reportedly the buyer of a Noosa mansion that has finally been offloaded by Former world No 1 tennis player, Thomas Muster (pictured, far right).
Webber is reported to have paid about $5 million for the four-bedroom mansion that Muster bought in 2006 for $3.8 million and then redeveloped.Read more
LEIGHTON Properties with Ipswich City Properties have lodged plans to build an office building within the $1 billion Ipswich City Heart development (proposal image, right).
It is proposing a nine-level tower with about 18,000 square metres of A-grade space. According to the AFR the state government is finalising a 15,000 square metre lease within the building, expected to house 1200 state public servants.
Ipswich lord mayor Paul Pisale said the proposal proves Ipswich is becoming a CBD in its own right.Read more
SHOPPING centre giant Westfield has come under attack from Brisbane Lord Mayor Graham Quirk.
Mr Quirk said Westfield’s decision to charge for parking at the Westfield Chermside shopping centre after three hours was “a slap in the face” for residents.
The changes, to be introduced in October, should make the car park more efficient and “maximise space for genuine shoppers”, according to a Westfield representative.Read more
THE developer of Queensland’s landmark Q1 apartment building, on the Gold Coast, is involved in a legal dispute with its tenants.
According to documents lodged with the Supreme Court, the body corporate of the building claims Sunland’s Q1 had “contained or developed defects in the coating system” since construction.
The body corporate claims defects and corrosion in the building would “compromise long term durability and appearance of Q1 and require repair.”Read more
THE second stage of the $1.4 billion Queensland Children’s Hospital – worth some $900 million – has been won by Abigroup, part of Lend Lease’s national infrastructure business.
The project aims to deliver 359 hospital beds, and is due for completion in early 2004.
A Lend Lease statement about the contract is copied below.Read more
LEND Lease has announced a $100 million contract to deisgn pricing, delivery and commissioning of the first Pacific National coal rolling stock maintenance facility near Nebo in Queensland.
The move will help Lend Lease expand infrastructure operations into Central Queensland.
Below is a Lend Lease statement about the deal:Read more
SUNCORP is reported to be close to selling a Brisbane CBD office building known locally as “the Wedding Cake” because of its layered design.
The 18-level, 16,340 square metre office at 36 Wickham Terrace is understood to be “under contract” for about $65 million.
The sale, to a private investor, is part of a plan by Suncorp to consolidate ten office locations in Brisbane, to two. In Brisbane, Suncorp is reportedly in the market for between 27,000 sqm and 30,000 sq m of new space to occupy by the end of 2013.Read more
WALL Street heavyweight Blackstone Group, which recently announced an $806 million buyout of the debt laden Valad Property Group, has withdrawn a high-profile hotel from the market.
The 22-year old Sheraton Noosa Resort and Spa in the Sunshine Coast has frontage to the Hastings Street retail strip, and mooring facilities to the Noosa Valley. With 176 rooms and on almost 10,000 square metres of land, Valad listed the hotel for sale in March, with price expectations of about $70 million.
Valad paid $93.6 million for the resort in 2007. The value has dipped to about $85 million, according to the AFR which reported the resort being withdrawn from sale.Read more
STOCKLAND Capital Parters, which is responsible for the Stockland Direct Office Trust No 1 (SDOT1) has sold a 50 per cent stake in Brisbane’s Waterfront Place project for $216.4 million.
The Sydney-based developer will also sell 50 per cent of the entity owning the adjacent Eagle Street Pier project to the Melbourne based Future Fund for $16 million, on the basis o f a completed refurbishment.
Stockland will retain a 50 per cent interest in both projects according to an announcement made today (copied below).
The Waterfront place office rises 36 levels and fronts the Brisbane River. Eagle Street Pier is a low-rise 6,200 square metre shopping centre which is currently being refurbished. The sale price for this asset translates to 7 per cent. Sale price coming soon…Read more
FASHION designer Alex Perry will attach his name to an 11-level Brisbane apartment tower.
Perry has teamed with private developer Chrome Property Group to come up with “Alex Perry Residential”, a high end apartment range, starting with a Fortitude Valley development where one-bedroom apartments will start from $375,000, and three bedroom flats are available for just under $1 million.
Alex Perry Residences will be developed on the corner of Ann and Chester Streets about 1.5 kilometres north of the Brisbane CBD.Read more
MIGRANT workers could help boost the delivery of gas projects in towns like Gladstone, in Queensland, under new plans by the federal Labor government.
Population minister and internal Labor debating instructor Tony Burke told The Courier Mail the government plans to rely on a boost in the number of temporary skilled migrants for booming coal seam gas projects in Queensland. He added the government would intervene local zoning laws in outer Brisbane to reduce traffic congestion, and try to encourage more businesses to quit the CBD, for the suburbs.
Mr Burke described the decision as part of a “sustainable population” policy to be released closer to the Budget.Read more
SCOTT’S Refrigerated Freightways has paid almost $12 million for a distribution centre at Ormeau on the Gold Coast. The 2.1Read more
MELBOURNE-based developer Grocon is reportedly close to selling a Brisbane office building for about $170 million.
Credit Suisse Asset Management has made an offer for the 55 Elizabeth Street property according to the AFR. The sale includes an as-yet-unfinished 20,000 square metre office, which will be leased to the Australian Taxation Office.Read more
PLANS have fallen through to sell the Big Pineapple site on Queensland’s Sunshine Coast.
The 170 hectare site has been relisted for sale on behalf of receivers PPB. It’s being marketed by Ray White Special Projects.
It had been reported the site would be redeveloped into a car museum – but the advocates of this plan failed to complete a contract, according to the AFR which reported the relisting.
SYDNEY based property giant Lend Lease has been appointed as the managing contractor for the first stage of the Ipswich Hospital expansion. The Queensland government made the announcement regarding the $128.7 million project last week.
The project includes a two level extension of the existing Clinical Services Building (CSB), the Emergency Department and refurbishing works to the Out Patients Building.
Below is a copy of a statement posted on Lend Lease’s website regarding the contract.Read more
THE Sheraton Mirage in Port Douglas has sold for $35 million to Melbourne investor David Marriner.
The sale price is far less than the $90 million reportedly initially sought for the hotel, which at its peak accommodated some of the world’s highest profile business identities and celebrities.
Mr Marriner told the AFR, which reported the deal, that he plans to lodge a development proposal “that would be the catalyst for the recovery of the Port Douglas tourism sector.”
He said the hotel has been a flagship for Australian tourism for 25 years.Read more
VICTIMS of Brisbane’s floods will be able to build their homes one metre higher than the previous 8.5 metre planning limit.
The Brisbane City Council has approved a new planning instrument that it says will cut down red tape for flood victims waiting to rebuid.
Special approval will not be required for residents in flood affected areas to raise their homes to 9.5 metres.
The existing maximum height of 8.5 metres for a home’s highest point will remaing for homes not affected by the flood.Read more
TERRI Irwin has been quietly listing for sale properties that formed part of the $20 million portfolio she built with late husband Steve.
The owner of Australia Zoo has sold at least one property “at a loss”, and is reportedly offering more investments including four abutting the massive tourist attraction, and which were purchased as part of expansion plans. Properties have been listed for sale since late last year.
A zoo spokeswoman said it had been affected by the recent downturn in tourism. “In response to this, we have conducted an extensive and thorough review of the business and our operations, exploring all other avenues of cost savings right across the business.”
The largest property being offered, at Peachester, spreads over 95 hectares and has views of the Glass Mountains. It’s asking $1.25 million.Read more
THAKRAL Holdings has pulled two major assets from the market after they failed to generate buyer interest. The assets –Read more
BRISBANE City Council has approved a 206-unit apartment complex in Vulture Street, Kangaroo Point in South Brisbane. The project willRead more
AFTER shelving plans to redevelop the prominent site three years ago, the Queensland government is offering a Gold Coast property to the public again.
The property is known as the Gold Coast Marine Development site, and is between tourist meccas Seaworld, and the Palazzo Versace Hotel.
It has been earmarked to become a tourist attraction, however attempts to tender the site was met with lukewarm reaction in 2007, and formally shelved in June 2010.Read more