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Centro Properties Expected to List $4 Billion Portfolio

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Real Estate News - National
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Tuesday, 02 November 2010 00:37

CENTRO Properties Group is expected to list for sale a $4 billion portfolio of prime retail assets, as its bankers call for the company to settle its debts.

It’s expected Perth’s Galleria complex, and The Glen, in the south-east Melbourne suburb of Glen Waverley will be two of the 40-plus assets offered for sale.

Lend Lease, Colonial First State Global Management and AMP Capital Investors are expected to be in the mix of prospective purchasers, though the sale might also be on an individual shopping centre basis.

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Charter Hall, Telstra Super Pay $300 Million For Brisbane Square Office

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Real Estate News - Queensland
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Monday, 01 November 2010 06:00

THE Brisbane Square office building has sold for $300 million to a consortium including Charter Hall Group’s wholesale Core Plus Office Fund, and Telstra Super.

The duo purchased the asset from WA super group Westscheme.

Measuring 57,300 square metres, the A-grade office sale is due to settle by mid November.

A Charter Hall statement is copied below:

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Becton Sells Funds Management Business

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Real Estate News - Victoria
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Friday, 01 October 2010 00:00

BECTON Property Group has sold its funds management business to Sydney-based 360 Capital Group, in a deal speculated to be worth no more than $5 million.

Below is a statement Becton released about the transaction:

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Jam Factory to Lose Two of its Most Prominent Retailers

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Real Estate News - Victoria
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Tuesday, 06 April 2010 08:28

CHAPEL Street’s Jam Factory is set to lose two of its biggest retailers, with music store Virgin, and American coffee giant Gloria Jeans quitting their prominent tenancies.

The Virgin store, which occupies store T9 at the Jam Factory, occupies 938 square metres – or about the size of seven standard shops.

CB Richard Ellis’ executive Max Cookes, who is marketing the space with Travis Osborne, said the space would ideally be suited to an international retailer looking for a Chapel Street flagship store.

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Challenger to Retain Jam Factory Asset, South Yarra

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Real Estate News - Victoria
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Thursday, 01 April 2010 06:47

IT Chapel Street's Jam Factorywas one of the highest profile commercial properties to hit the market during the economic downturn, but with the market improving, Sydney-based fund manager Challenger has decided to hold on to the Jam Factory.

The prominent Chapel Street site, with street frontage to Garden and Palermo streets, in South Yarra, was in 2008 ago earmarked for a $700 million redevelopment, including high rise apartments and offices, a hotel, and a 54,000 square metre shopping centre.

However it failed to find a buyer when it was listed for sale last year with a price tag of circa $100 million.

 

Australand Pays MaxiCity $45 Million For Melbourne's Ex Stock Exchange Building

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Real Estate News - Victoria
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Monday, 29 March 2010 08:37

AUSTRALAND has paid $45 million for the former Australian Stock Exchange building at 357 Collins Street.

The vacant 22,000 square metre office was marketed as an apartment complex last year, but will now be converted into A-grade quality space, available in 2011.

 

Australian Unity Sells Footscray Plaza Shopping Centre For Speculated $20 Million

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Real Estate News - Victoria
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Monday, 29 March 2010 08:34

Footscray PlazaAUSTRALIAN Unity is understood to have made about $20 million from the sale of its Footscray Plaza complex, at a busy intersection, in the burgeoning western suburb.

Private development company Banco Group, headed by Mario Lo Guidice, confirmed he purchased the 13,968 square metre plaza, at the busy corner of Paisley and Albert streets.

Coles and K-Mart are the two biggest tenants in the centre, occupying about 84 per cent of Gross Lettable Area.

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Bovis Lend Lease Gets Started on $363 Million Melbourne Park Upgrade

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Real Estate News - Victoria
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Wednesday, 24 March 2010 10:56


Melbourne ParkBOVIS Lend Lease is starting construction of a $363 million redevelopment of the Melbourne Park sports stadium.

The first stage, a $20 million "works package", was announced today, by the Sydney-based developer.

A Lend Lease statement about the redevelopment is below:

Last Updated on Wednesday, 24 March 2010 11:57
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Lend Lease Appoints New American CEO

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Real Estate News - National
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Monday, 22 March 2010 11:09

SYDNEY-based developer Lend Lease has announced a new CEO for its American arm.

Lend Lease Australia CEO and managing director Steve McCann announced Robert McNamara's appointment in a statement today (copied below).

Mr McNamara will report to Mr McCann, and be responsible for divisions including: Development, Project Management and Construction, Public-Private Partnerships (PPPs) and Investment Management.

He takes the help on April 19, 2010.

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$300 Million Melbourne Wholesale Fruit, Vegetable and Flower Market Set to Start Construction

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Real Estate News - Victoria
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Thursday, 18 March 2010 14:23

CONSTRUCTION of the controversial $300 million Melbourne Wholesale Fruit, Vegetable and Flower Market is one step closer to starting, after Bovis Lend Lease anounced it signed the final contract today.

The decision will mean substantial tracts of land in West Melbourne, between the CBD and Footscray, is now, effectively, earmarked for redevelopment.

Below is a statement from Bovis Lend Lease about the project:

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GPT Sells Bankstown Homemaker Centre for $25.2 Million

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Real Estate News - New South Wales
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Thursday, 18 March 2010 08:47

GPT Group has sold its Bankstown Homemaker Centre for $25.2 million, on a high yield of just over 10 per cent.

The 18,600 square metre centre was valued at $24 million at December 31, 2009, the SMH reports.

Another three assets in the Homemaker Centre portfolio are still being marketed.

 

CBUS Buys Half Share in 171 Collins Street Development

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Real Estate News - Victoria
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Thursday, 18 March 2010 08:34

171 Collins StreetAS reported in The Age last year, CBUS Property has confirmed it is the mystery buyer of a half share interest in Melbourne’s 171 Collins Street development.

CBUS has paid Sydney-based owner Charter Hall $15.5 million, to take its share in the $280 million office development, which challenged a previous planning precedent, restricting height around the “Collins Street spine”.

It’s understood the developers are targeting the National Australia Bank which has a 40,000 to 60,000 square metre requirement in the market at the moment.

Last Updated on Wednesday, 28 July 2010 21:58
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Lend Lease Appoints New Director of Operations

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Real Estate News - National
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Wednesday, 10 March 2010 10:01


LEND LEASE has announced the appointment of a new director of operations, Scott Charlton.

Details of the appointment are in the Lend Lease statement copied below:

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ING Real Estate Healthcare Sells Half Interest in East Melbourne Hospital For $14 Million

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Real Estate News - Victoria
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Wednesday, 10 March 2010 09:59

ING Real Estate Healthcare Makes Huge Profit Selling Half Interest in East Melbourne Hospital For $14 Million.

ING Real Estate Healthcare Fund (IHF) has made $14 million from the sale of a half share freehold interest, in the Epworth Freemasons Private Hospital in Clarendon Street, East Melbourne.

The Epworth Foundation (Epworth), which has been a tenant in the building, has bought the other half, at the buildings December 31 2009 book value.

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Austock-Controlled Australian Education Trust to Reap $40 Million From Child Care Centres

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Real Estate News - National
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Thursday, 25 February 2010 12:49

THE ASX-listed Australian Education Trust, controlled by Austock, will sell a portfolio of 30 child care centres across Australia.

The centres will be sold with an average 10 year lease, according to a statement issued by Colliers International, and will be auctioned in a staggered campaign starting late next month.

Colliers International said “the properties provide an institutional grade investment opportunity, with an entry level price [into the commercial property investment market] and attractive yields.”

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WA Government Appoints Delfin Lend Lease Preferred Developer For Alkimos Community Development

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Real Estate News - Western Australia
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Thursday, 18 February 2010 23:56

THE West Australian government has named Delfin Lend Lease as the preferred developer for the first stage of the 710 hectare Alkimos Community development, 40 kilometres north of Perth.

Alkimos will be Delfin Lend Lease’s first major project in WA, despite establishing in the state two years ago.

Perth based Satterley Property Group and Mirvac were also shortlisted to buy the site, the AFR reports.

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K-REIT Pays Charter Hall $166 Million For Half Share in Brisbane Office

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Real Estate News - Queensland
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Tuesday, 16 February 2010 23:35

A SINGAPORE based real estate trust has paid $166 million for a half share in a major Brisbane office building.

K-REIT Asia (Australia) Trust has made its first foray into the commercial property market, according to the Herald Sun, buying into the 30-level, 40,317 square metre fully leased office.

Charter Hall was the vendor.

 

Macquarie to Sell Majority of Management Business to Charter Hall

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Real Estate News - National
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Sunday, 14 February 2010 23:31

MACQUARIE Group Limited will sell the majority of its Australian real estate business to the Sydney-based Charter Hall.

Macaquarie will sell the management of two listed trusts – Macquarie Office and Macquarie Countrywide – and three unlisted real estate funds including the Macquarie Direct Property Fund.

Details of the deals are in the Macquarie Group Limited statement below:

 

Last Updated on Sunday, 14 February 2010 23:55
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Henkell Brothers Pays $34 Million For King Street Office, Melbourne

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Real Estate News - Victoria
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Tuesday, 09 February 2010 18:36

HENKELL Brothers has paid $34 million for a Melbourne CBD-fringe office building, opposite Flagstaff Gardens.

The 383 King Street building, in West Melbourne, last sold for $41.2 million in 2006, to two Trinity Groups entities, according to the AFR which reported the sale.

The 12,975 square metre office is leased to the National Australia Bank until 2013, but offers redevelopment potential with CBD views that will never be built out.

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