Government temporarily bans public auctions and inspections, part of updated social distancing measures

Public auctions and inspections will be temporarily banned following a national cabinet decision earlier tonight. Service based retailers including beauty therapists, nail salons and tattoo parlours will also be forced to cease trading when social distancing measures come into effect at midnight, Wednesday March 25. Hairdressers can continue to operate provided clients stay a maximum

Read more

Michael Hill closes 304 stores, lets go of 1600 Australian staff, because of coronavirus

Citing the difficulty operating its business given social distancing rules, Michael Hill has shut its global network of 304 jewellers indefinitely and let go of 1600 Australian staff. In an Australian Stock Exchange statement, the Brisbane based company said sales have recently been plummeting. The retailer hasn’t traded since last week in Canada – where

Read more

Spotlight Group buys Harris Scarfe

Spotlight Group has pulled Harris Scarfe out of receivership. The Melbourne based, family-owned Spotlight acquired the 170-year old Adelaide-founded department store chain today. Spotlight was shortlisted with three parties by administrator, Deloitte’s Vaughan Strawbridge. Harris Scarfe entered voluntary administration in December, 2019, with 21 outlets across five states closed in January. The retailer now employs

Read more

Timezone, Kingpin owner TEEG opens 300th venue with plans for 50 more next year

The Entertainment & Education Group (TEEG) – the largest operator of family entertainment venues in the Asia Pacific – has opened its 300th venue, a Kingpin, at Canberra’s Civic shopping centre. Moreover TEEG – which also owns Timezone and Zone Bowling – intends to trade from 50 more outlets in 2020. The Singapore based company

Read more

Scape pays $2 billion for Urbanest’s Australian student accommodation portfolio

Scape Australia is paying $2 billion for a portfolio of student accommodation units in Sydney, Melbourne, Brisbane and Adelaide. The property deal with Urbanest – owned ultimately by the Washington Investment Board care of M3 Capital Partners’ Evergreen Real Estate – is Australia’s biggest this year. It comes less than three months since Scape Australia

Read more

ESR seeds office mandate with two wholly owned business parks worth $138 million

ESR Cayman Limited will seed an office focused mandate using two wholly owned Sydney business parks, picked up as part of its $723 million takeover of Propertylink in April. The ESR Office Partnership IV (EOP IV), worth $138 million, includes: 15 Talavera Road, Macquarie Park (pictured, right) – which contains 12,630 square metres of lettable

Read more

Harris Scarfe for sale after being put into receivership and entering voluntary administration

Harris Scarfe – one of South Australia’s oldest retail chains – entered voluntary administration today after being put into receivership by a creditor. The move comes less than a month after the company traded to Allegro Funds, a Sydney-based private equity firm known to turn around struggling businesses. In that deal, for an undisclosed sum,

Read more

Acumentis the new name for Landmark White

Valuation and advisory firm Landmark White has rebranded as Acumentis. The new name is derived from two Latin words, it described: acumen, meaning insight and sharpness; and mentis, which involves having sound mind, memory and understanding. Australia’s only independent, locally-owned, ASX-listed valuation company – Acumentis had a horrible year, with two data breaches resulting in

Read more

Bardot enters voluntary administration; ex-customers criticise over-priced new ranges

Women’s fashion brand Bardot, which is headquartered in a historic Abbotsford warehouse on the banks of Melbourne’s Yarra River, has entered voluntary administration. The clothes maker and retailer employs about 800 staff and trades from 72 Australian stores. Its competitors include local outfits Witchery, Sportsgirl and Country Road – as well as international brands, H&M

Read more

World’s first KFC drive-thru ‘only’ opens in Australia – bringing back the ‘Kentucky Fried Chicken’ brand

The world’s first KFC drive-thru only restaurant opened in the New South Wales regional town of Newcastle on Wednesday. Built on a site the business owns at 80 Lambton Road, Broadmeadow, the concept store is branded Kentucky Fried Chicken. This represents a marketing back-flip: the fast food chain renamed itself KFC globally about 30 years

Read more

ESR and China Merchants Capital create $350 million Australian logistics investment arm

ESR Cayman Limited (ESR) has announced a deal with China Merchants Capital Investments Co Ltd (CMC) to seed a $350 million real estate platform focused on developing and owning Australian logistics investments. The new mandate will be known as the ESR Australia Logistics Trust (EALT). Hong Kong-headquartered ESR will half-fund EALT, using its existing balance

Read more

Brisbane, Melbourne childcare centres set to smash national records

A Brisbane childcare centre investment listed this month could be the most expensive sold in Australia – smashing the record set last year for a Sydney centre, by some $14 million. The Bowen Hills complex, three kilometres north east of the Queensland capital, is expected to trade for more than $35 million. It forms part

Read more

Offshore Funds Cash up For Australian Farming Assets

INVESTORS from the United Kingdom are planning a $400 million fund to invest in cotton and wheat properties in eastern Australia.

To be known as Southern Agricultural Resources, and with Derek Shaw as a non executive director, the fund has reportedly identified for purchase 24 properties covering over 100,000 hectares in New South Wales and Queensland.

The fund has “been quietly shuffled around investment circles in the UK and USA” according to the AFR.

Read more

Abigroup Wins Department of Defence Contract

LEND Lease arm Abigroup has won a major government contract.

Details of a media statement released today is below:

Abigroup has won a national Defence contract to prepare RAAF airbases around Australia to receive the air force’s next generation of fighter jets.

Read more

NIMBYs Might Win Fight Against Major Brunswick Proposal, Melbourne

THE Moreland City Council and developers are battling against the clock to get a contentious Brunswick project out of the ground before mid-2012, when the permit expires, and resident concerns regarding the proposal must then be heard.

The 284 – 294 Albert Street block was the subject of a dispute last June when Brisbane-based owner Citimark proposed a $100 million apartment compound with three towers rising between 10 and 14-levels (impression, right).

Citimark relied on a development overlay introduced in 1994 and specifically for the construction of a supermarket, next door, to bypass third-party appeal rights for its major proposal.

Read more