Damien Frawley joins Mirvac board
Mirvac Group has appointed outgoing Queensland Investment Corporation chief executive officer Damien Frawley as non-executive director of the board. The
Read moreMirvac Group has appointed outgoing Queensland Investment Corporation chief executive officer Damien Frawley as non-executive director of the board. The
Read moreQueensland Investment Corporation has appointed Kylie Rampa – who was raised in the state – as chief executive officer. Ending
Read moreBlackstone is looking to take out a 49 per cent stake in the $3.5 billion Dexus managed Australian Logistics Trust
Read moreAventus (AVN), co-developed in 2004 by Brett Blundy and Darren Holland, and listed six years ago, is intending to merge
Read moreAmpol is selling a portfolio of 18 service stations. The bulk are in regional locations in east coast states including
Read moreNick Scali has purchased rival sofa retailer Plush from Greenlit Brands. The $103 million deal will see the buyer control
Read moreGrowthpoint Properties Australia is seeking to acquire 14.74 per cent of new securities for the APN Industria REIT (ADI). The
Read moreCharter Hall – for its Long WALE REIT (CLW) and a trust managed for Hostplus – has entered a Scheme
Read moreHome Consortium’s HealthCo Healthcare & Wellness REIT (HCW) listed today. Units in the fund closed at $2.32 – or 16
Read morePostscript: shareholders voted to delist on September 10. Redcape Hotel Group directors have proposed to delist with a $247 million
Read moreThe GPT Group is paying Ascot Capital $681.7 million for a portfolio of 24 investments. Containing a total lettable area
Read moreHong Kong listed ESR is paying $7.07 billion (US$5.2b) for Singapore’s ARA Asset Management. The deal will see the buyer
Read moreThe office vacancy rate across Australia’s 18 key markets has increased since January to 11.9 per cent – the highest
Read moreLendlease has sold its Services business for $310 million. The group said the deal is part of a strategy to
Read moreESR Australia today settled on a $3.8 billion purchase of 45 industrial investments – the Milestone collection – and a
Read moreInvesta has appointed Peter Menegazzo as the group’s chief executive officer, effective July 1. The businessman will replace Jonathan Callaghan
Read moreDexus has made a $180 million cornerstone investment in the Australian Unity Healthcare Property Trust. As part of the partnership,
Read moreA Charter Hall trust – responsible for about a tenth of the group’s funds under management – has recorded a
Read moreCenturia is being rewarded for its decision to counter-cyclically invest in its Industrial REIT (CIP). Following a revaluation of its
Read moreSingapore sovereign wealth fund GIC will open an Australian office next year. The landmark Chifley Tower, in Sydney – which
Read moreSamsung Life and its real estate asset management subsidiary Samsung SRA have snapped up a 25 per cent stake in
Read moreFife Capital is reportedly paying $200 million for a portfolio of industrial, office and residential investments. The 39 properties were
Read moreTwelve months ago, the Australian office workforce was very much settled into the work-from-home routine and many questions were being
Read moreTwo major real estate platforms – the ASX-listed Centuria Capital Group and Primewest – are proposing to merge. If successful,
Read moreREA Group is seeking to acquire Mortgage Choice for $244 million. The broker, which amongst other things finds loans for
Read moreThe Agency Group is branching into commercial property. The ASX-listed real estate company has been investing heavily in its residential
Read moreWoolworths Group will separate its Endeavour Group, likely via a demerger, in June, 2021. The proposal was delayed a year
Read moreThe pandemic has had deep economic ramifications across the globe during 2020. This economic slow-down is evident through the fall
Read moreLendlease has sold another 25 per cent stake in its Retirement Village Living business. The deal, with Aware Super, is
Read moreH&M is preparing to shrink its Australian retail footprint. Two stores are on the line according to reports: Rockhampton and
Read moreLendlease chief executive Steve McCann will retire in June. Asia CEO Tony Lombardo (pictured, top) will replace him. Colleagues Kylie
Read moreThe Property Council of Australia’s twice-annual Office Market Report shows vacancy rose in every capital except Canberra – where it
Read moreColliers International has appointed Malcom Tyson as Australian chief executive officer. The agent will replace John Kenny who was last
Read moreA “purported administration” entered into by The Agency’s biggest shareholder yesterday will end on February 1 following federal court orders.
Read morePostscript: The federal court has reversed this decision. Read our story here. The Agency has been placed into voluntary administration
Read moreThe COVID-19 led collapse of the travel industry has claimed another 91 Flight Centre stores. The ASX-listed group announced in
Read moreSingapore sovereign wealth fund GIC will hold an 80 per cent stake in the ESR Australia Logistics Partnership (EALP) after
Read moreQantas is conducting a group wide review of its rented space, particularly corporate offices. The airline is headquartered at a
Read moreIn its first pure play industrial outlay, the federal government’s Clean Energy Finance Corporation will invest $50 million with Charter
Read moreCharter Hall Group and Singapore’s GIC are paying $682 million for a 49 per cent stake in 203 Australian petrol
Read moreKUBA Investments is making good on its promise to reposition the Napoleon Perdis business it acquired last April – replacing
Read moreMetcash is expanding its hardware sector presence with a $57 million bid for a 70 per cent stake in middleweight
Read moreWesfarmers will undertake a major restructure of its Target business, close up to 75 stores and re-brand another 92 as
Read moreBardot is back – but as an online-only store. Five months after entering voluntary administration, chief executive officer Basil Artemides
Read moreTens of thousands of Australian jobs were shed today as businesses plan for losses stemming and set to come from
Read morePublic auctions and inspections will be temporarily banned following a national cabinet decision earlier tonight. Service based retailers including beauty
Read moreCiting the difficulty operating its business given social distancing rules, Michael Hill has shut its global network of 304 jewellers
Read moreSpotlight Group has pulled Harris Scarfe out of receivership. The Melbourne based, family-owned Spotlight acquired the 170-year old Adelaide-founded department
Read moreHomewares retailer ISHKA was placed into voluntary administration today. Established in Melbourne’s Glen Iris 49 years ago – the family
Read moreIt was hoping to hit the ground running – taking on Aldi, Coles and Woolworths – but Kaufland in Australia
Read moreJeanswest’s Australia arm is the latest retailer to enter voluntary administration. The casual and maternity clothing company, founded by flamboyant
Read moreThe Entertainment & Education Group (TEEG) – the largest operator of family entertainment venues in the Asia Pacific – has
Read moreScape Australia is paying $2 billion for a portfolio of student accommodation units in Sydney, Melbourne, Brisbane and Adelaide. The
Read moreESR Cayman Limited will seed an office focused mandate using two wholly owned Sydney business parks, picked up as part
Read moreCharter Hall (CHC) is paying petroleum giant BP Australia Pty Limited $840 million for a 49 per cent stake in
Read moreHarris Scarfe – one of South Australia’s oldest retail chains – entered voluntary administration today after being put into receivership
Read moreValuation and advisory firm Landmark White has rebranded as Acumentis. The name is derived from two Latin words, it described:
Read moreWomen’s fashion brand Bardot, which is headquartered in a historic Abbotsford warehouse on the banks of Melbourne’s Yarra River, has
Read moreThe world’s first KFC drive-thru only restaurant opened in the New South Wales regional town of Newcastle on Wednesday. Built
Read moreESR Cayman Limited (ESR) has announced a deal with China Merchants Capital Investments Co Ltd (CMC) to seed a $350
Read moreA Brisbane childcare centre investment listed this month could be the most expensive sold in Australia – smashing the record
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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.
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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.
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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.
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REAL estate hobbyists will be able to play the part of a property entrepreneur, as part of a new internet-based computer game set to hit the market soon.
Property Mogul will allow players to acquire, sell and manage properties to build a portfolio. Players start with $1 million, and can utilize real estate agent help to advice on game based purchasers. Agents will be represented with an online avatar.
“Property Mogul is an entertaining and interactive game where players buy, sell and manage real estate, allowing them to apply real life principles to achieve virtual property tycoon status,” said Century 21 Australia chairman and owner Charles Tarbey. The agency has developed the game with Engaging Communications.
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ONLINE real estate voyeurs may notice Australia’s capital cities looking greener, cleaner and generally more attractive.
After some 18 months touring roads in cars with roof-mounted cameras, and then blurring the scenes it recorded for privacy, internet-based business Google this week replaced much of the Australian imagery it uses for its Maps and Street View technologies (a UK Google Street image capturing a drunk man, pictured, right).
Google’s much anticipated upgrade – the first major improvement to the Street View service introduced here in August 2008 – affects capital cities, coast and country towns.
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LAND sales have plummeted over 40 per cent, nationally, according to new research issued by the Housing Industry Association.
The group expects the residential construction sector to “remain in the doldrums” until at least December. It describes 2011 as the worst stretch for land sales in about a decade.
A joint report by RP Data and HIA, and reported in the AFR, found the number of residential land sales had dropped for the sixth consecutive quarter in March 2011.
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NEW figures released by the Australian Bureau of Statistics show 60,000 fewer first home buyers entered the mortgage market for the year to May.
This reflects a drop of 5000 loans a month, and comes despite the low interest rate environment.
The ABS says rising costs of living, and interest rates, are factors negatively affecting sentiment in the market.
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AFTER what has been a largely bleak economic backdrop, the country’s most affordable suburbs are performing better than its ritziest.
According to research group RP Data-Rismark, exclusive suburbs including Mosman Park in Perth and Hunters Hill in Sydney (pictured, right) have reported drastic median price drops of more than 30 per cent since “the peak”, which it deems to be August 2008 (about six months after when many agents say the downturn started in the large Sydney and Melbourne markets).
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TONY Abbott is leading an investigation into foreign ownership of Australian property particularly farms), after a wave of complaints from agents and farmers that the current rules for offshore investors is resulting in much of the country being sold unbeknownst to the Foreign Investment Review Board.
The federal coalition announced the decision on Thursday (June 20) after calls from the Liberals, Nationals and the Greens for new rules to curb farm purchasers by offshore investors.
The Australian newspaper has recently reported a swag of foreign investors quietly snapping up major Australian properties. Buyers include China’s largest coal producer Shenhua and the Qatar government.
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NATURAL disasters in key markets, a strong $A encouraging Australians to travel overseas, and prospective visitors seeking cheaper destinations, have contributed to a slowdown in the country’s tourist accommodation sector.
According to new research issued by the Australian Bureau of Statistics, occupancy in the hotel, motel and serviced apartment sector has dropped in many states, with the lowest rate (51.8 per cent) reported in the Northern Territory.
Tasmania performed best with an occupancy rate of 72.5 per cent in the March quarter. It was followed by the ACT (70.4 per cent) and NSW (67.8 per cent).
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REAL Estate website www.realestate.com.au is being investigated by the Australian Competition and Consumer Comission for its advertising pricing.
The aggressive pricing strategy by the industry leading website has generated complaints by advertisers, which are mostly agents.
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STOCKLAND has paid $22 million for three retirement villages.
The complexes were offloaded by Retirement Villages Group (RVG)), a struggling unlisted retirement fund run by the FKP Property Group and Macquarie Bank.
The portfolio acquisition adds 376 to the number of independent units offered by Stockland. Combined with serviced apartments, it now manages a total of 7403 dwellings.
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THREE major industrial deals have been signed in major Australian cities.
In Perth, K-Craft Builders has agreed to lease 1800 square metres of space previously leased to Alloy Haulage, at 36 Banksia Street in Welshpool. The lease was struck at a gross face rent (pre incentives) of about $93 per square metre.
K-Craft has been headquartered at Welshpool for 30 years, and is expanding. Colliers International brokered the deal.
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A RECORD number of New Zealanders are moving to Australia.
According to Statistics New Zealand, 3300 New Zealanders moved to Australia in May – and that figure is net (meaning it cancels out those who are relocating the other way).
The Christchurch earthquakes and aftershocks, as well as a weak economy, is driving the trend. Christchurch is New Zealand’s second largest city and did have a population of 300,000.
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RENTERS want landlords to pay them greater respect, and they want to be able to customise their homes, according to a recent survey by online group rent.com.au.
The survey also rated as top renter concerns: the ability to own a pet, hang artwork and photos, work on gardens, or enjoy better quality kitchens. Renters also called for home-inspection times that are outside of business hours, and for more time to inspect homes, so as to “get a feel”.
The survey, reported in various press, does not disclose the number of survey respondents. However the issues have presented for decades to landlords.
Interestingly the survey raised an issue of advertised rents often differing from prices given during inspections.
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DESPITE warnings from Queensland independent Bob Katter, overseas investors are continuing to snap up Australian agriculture land.
This time, the Swedish National Pension Fund is teaming with US institutional investor TIAA-CREF, making a commitment to invest more in Australia.
Through its Westchester Group, TIAA-CREF already controls 180,000 hectares of cropping country. The “TIAA” refers to the Teachers Insurance and Annuity Association of America, which took an 85 per cent controlling interest in Westchester Group late last year.
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RECRUITMENT firms say foreign developers that have been snapping up Australian assets are actively in the office market for lease.
Groups looking to establish or expand Australian operations include Asian broker and fund manager CLSA, global sovereign funds such as the Canada Pension Plan Investment Board, Government of Singapore Corporation and South Korea’s Investment Corporation.
LaSalle Investment Management and the US-based pramerica Real Estate Investors are also looking for space, according to the AFR.
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HASSAD – the agricultural arm of the Qatari government – is in negotiations to buy five properties in western Victoria, in a deal reportedly worth $45 million.
The portfolio will bring the value of Australian assets purchased by the overseas group in the past twelve months to over $100 million.
Hassad is said to be considering purchasing another major property in NSW from one of the Victorian vendors.
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THE Australian Bureau of Statistics today released official building approval numbers.
They show the number of dwellings approved nationally fell by 1.3 per cent in April, after rising 8.6 per cent in March (seasonally adjusted).
Victoria held about steady, while New South Wales, Western Australia and Tasmania recorded major drops. By comparison, South Australia and Queensland reported notable rises.
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