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Charter Hall Sells Sydney's 400 Kent Street Sells For $58 Million

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New South Wales
Saturday, 10 August 2013 07:37

AN UNLISTED Charter Hall fund has sold a Sydney CBD office building for a reported $58 million.

Credit Suisse Asset Management has purchased the B-grade, 13-storey, 10,460 square metre tower at 400 Kent Street, most of which is leased to the Central Queensland University. Constructed in 1992, the building includes 11 car parks.

According to marketing agency CBRE, the deal was struck on a 7.85 per cent yield. The agents were Michael Andrews, Joshua Cullen and Rohan Ramsay.


WA Government Unveils $9 Million Affordable Housing Complex, Bunbury, WA

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Western Australia
Friday, 09 August 2013 07:19

THREE years after demolishing the city's oldest lodging accommodation for homeless men, Yanget House, the West Australian state government has opened a new $9 million facility in Bunbury, about 175 kilometres south of Perth.

The $9 million facility at 25 Victoria Street will be operated by not for profit company Access Housing Australia. It will cater for low to moderate income earners. It will also be a drop in centre and used for crisis accommodation.

Bunbury Mayor David Smith said the triple-storey Victoria Street facility was a much improved step up from Yanget House which provided occupants with just a bed and small cupboard.


Blocks in Exmouth Marina Village Relisted at Substantial Discount

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Friday, 09 August 2013 06:36


BLOCKS of land, part of the stalled Exmouth Marina Village in Western Australia, have come back onto the market after the developer went into receivership.

The 60 blocks for sale in the multi-million canal development, which was touted could become a seaside playground for residents in the Pilbara, nearby, have been substantially discounted.

Eleven of the blocks are for multi-residential developments like blocks of flats. The balance are residential lots, many waterfront.

A portion of Exmouth Marina Village is occupied by the Novotel Ningaloo Resort.



Jamie Oliver Eyes Brutalist APBC Building, Adelaide, For Restaurant

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South Australia
Thursday, 08 August 2013 08:00

CELEBRITY chef Jamie Oliver is considering opening a restaurant in Adelaide's Walkerville, on the lower levels of the former Highways Department buildings, a distinctive former office identified as one of the country's finest surviving examples of Brutalist architecture.

Melbourne-based Asian Pacific building corporation is refitting the former office in north-east Adelaide. The British chef has apparently investigated taking space in the building. The Walkerville site and two others, in the Adelaide CBD, are reportedly on the radar of Oliver's Pacific Restaurant Group. The space would trade as Jamie's Italian.

APBC chief executive Will Deague confirmed Oliver had inspected the space. He said an announcement about the retail tenancies will be announced later this year.


Buyer Pays $5.3m for Unfinished Gold Coast Mansion

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Tuesday, 06 August 2013 13:00


PERTH based civil engineer Riccardo Rizzi is understood to have paid $5.3 million for a Gold Coast mansion at one stage mooted to become one the country's most expensive homes.

The Tuscan inspired home at 26-32 Knightsbridge Avenue in Sovereign Island was auctioned on Tuesday after the ANZ bank repossessed it last October.

Former owners - accountant Clare Marks and husband, corporate lawyer Scott Tyne, are reported to have paid $9.4 million for the block in 2005.



After 16 Years, Reading Group Sells Dilapidated Moonee Ponds Market Site

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Tuesday, 06 August 2013 09:50

AFTER 16 years, a new owner of the Moonee Ponds Market is expected to be announced this week.

A developer is understood to be in advanced negotiations to buy the 1.34 hectare site, opposite the Moonee Ponds train station – for a speculatd $25 million.

US-based Reading bought the block with the intention of replacing it with a major entertainment complex.


Costco to Enter Lucrative Australian Petrol Market

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Thursday, 13 September 2012 00:20

US retail giant Costco – reportedly the world’s eighth largest retailer – is looking to enter the lucrative Australian petrol market.

Following in the footsteps of local rivals Woolworths, and the Wesfarmers backed Coles, Costco has applied to build service stations at as-yet-undeveloped stores in Sydney and Brisbane.

The retailer reportedly sold 8.7 billion litres of fuel at its 500+ US stores in 2010.

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