Real Estate News

NINETEENTH century station Burrawang West in western New South Wales is for sale and expected to sell for about $8.5 million.

The historic property spread over 5000 hectares on the Lachlan River, about 450 kilometres west of Sydney, was once a wool production operation, in 1884 establishing a then-record for processing 5000 bales.

AFTER some 25 years, the Western Australian state liberal government has approved laws allowing Sunday trading in Perth.

In a move expected to result in a wave of major new retail developments and refurbishments, Premier Colin Barnett, and the opposition, supported the legislation which replaces ad hoc rules that allowed only certain retailers to open.

Sunday trading was the subject of a failed referendum in 2005.

Melbourne-based Myer has been one of the first retailers to praise the move, adding the group would now “move more quickly to refurbish and expand operations in Perth”. The company has refurbished just one of its six Perth stores since 2006 but undertaking numerous major renovations of its east coast outlets since that time.

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.

TASMANIAN tourist attraction the Pub in the Paddock is for sale asking $800,000.

The pub, run by Anne Free and renowned for its beer drinking pigs, is in the state’s north-east.

Built as the St Columba Falls Road hotel in 1880, and licensed since 1901, the pub also includes six guest rooms which derive rental income of $75 per night. On three hectares with South George River frontage the property also includes a 100-seat restaurant. A set of pigs, famous for being welcomed in the pub for a drink, are included in the sale price.

LEND Lease and a consortium known as Exemplar Health have been appointed to build a $2 billion tertiary hospital at Kawana in the Sunshine Coast in Queensland.

The Sunshine Coast University Hospital (artist impression, right) will include 738 beds with the first stage due for completion in late 2016.

A statement released by Lend Lease this afternoon is copied below:

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.