New South Wales – Page 21 – realestatesource

Point Piper estate Fairwater – reportedly the largest block of privately held prime harbourside land in Sydney – was listed

New South Wales News

Sydney ShopSmart Outlet Centre in Mt Druitt sells for $24.8 million

August 20, 2018August 24, 2018 Marc Pallisco

A major retail investment in Mt Druitt, 43 kilometres west of the Sydney CBD, has sold for $24.8 million to

New South Wales News Queensland Victoria

Dexus paying $188 million for three industrial sites on Australia’s east coast

August 15, 2018August 20, 2018 Marc Pallisco

Dexus is paying $188 million for three industrial development sites on Australia’s east coast. The biggest property by area, in

New South Wales News

AFL footballer Sam Reid sells Coogee penthouse

November 3, 2017August 13, 2018 Marc Pallisco

AFL footballer Sam Reid has sold a penthouse apartment in the eastern Sydney suburb of Coogee. The Sydney Swans forward

New South Wales News

ABC reporter Leigh Sales sells Glebe home ahead of auction

October 31, 2017August 13, 2018 Marc Pallisco

ABC reporter and author Leigh Sales has accepted a pre-auction offer for her 1910 Federation in the inner-western Sydney suburb

New South Wales

Lend Lease Wins $315 Million Contract to Widen West Motorway, Sydney

June 26, 2012 Marc Pallisco Abigroup, Lend Lease, Sydney Infrastructure

LEND Lease has secured the $315 million contract to widen the M5 West Motorway in Sydney.

It will design and construct the upgrade which include interlink roads. Two lanes will be extended to three in each direction from Camden Valley Way, Prestons to King Georges Road, Beverly Hills.

Lend Lease’s construction business, Abigroup, has been working on the proposal since February 2010. Completion of the project is expected in December 2014.

Lend Lease announced the contract to the ASX this afternoon (June 26):

New South Wales News

Woollahra Council Approves Lachlan Murdoch’s $11.6 Extension, Bellevue Hill

June 30, 2012December 13, 2019 Marc Pallisco

THE Woollahra Municipal Council earlier this month approved the $11.6 million renovation of a Bellevue Hill home, lodged by Channel

New South Wales

TAL Leases 10,500 Sq m in Sydney CBD

June 26, 2012 Marc Pallisco Martin Place, Sydney CBD Office Lease

THE life insurer formerly known as Tower, and now, TAL, will relocate across from Sydney’s north to the CBD after committing to lease 10,500 square metres at 363 George Street, near Martin Place.

TAL will leave Milsons Point and Albert Street which it has called home for 40 years. The move will bring together the company’s 850 staff – including some currently located at another Martin Place office.

It’s new George Street office will spread across 12 levels. It fills part of 60,000 square metres being vacated by the Commonwealth Bank (which is moving to the Darling Quarter).

New South Wales

British American Tobacco Australasian Plant, Pagewood, Sydney, to be Redeveloped

June 28, 2012 Marc Pallisco Pagewood, Pagewood Development Site Sale, Sydney Industrial

PLANS for a $56 million rebuild of British American Tobacco’s Australasian plant in Pagewood, Sydney, have been approved. Much of

New South Wales

Rail Infrastructure Worth More Than $18 Billion Announced For Metropolitan Sydney

June 25, 2012 Marc Pallisco Infrastructure NSW, rail, sydney cbd

SYDNEY will get a second harbor crossing under plans for a multibillion rail vision announced by Infrastructure NSW on June 20.

The crossing – with conservative cost estimates of $10 billion – will join the $8.5 billion North West Rail Link, set to be open in about 2019-20. The harbour crossing is not expected to start before then.

The crossing is needed for Sydney to use metro-style trains similar to those in London and Paris.

Coalition government advisers have speculated the tunnel cost would be considerably more than $10 billion – but Transport Minister Gladys Berejikian assured the AFR the infrastructure project will be built. The newspaper also included a map of the project.

New South Wales

Liberal Party (NSW division) Leases 100 William Street, Sydney

June 17, 2012 Marc Pallisco Sydney CBD Office Lease

OFFICE space in the former Westfield building at 100 William Street, Sydney, has been leased by the Liberal Party of

New South Wales News

Westpac sells Sydney office

November 24, 2009April 7, 2021 Marc Pallisco

The Westpac Office Trust has recorded a loss selling a Sydney office it bought in late 2006. The Kensington property,

New South Wales

TopShop Unveils $1.85 Million Refurbishment of Ex Gowings Building, Sydney

June 21, 2012 Marc Pallisco Gowings, Sydney CBD Retail Lease

UK retailer Topshop has unveiled plans for a $1.85 million refurbishment of its Sydney CBD headquarters.

The retailer has leased five levels of the former Gowings building – basement, lower ground, ground, mezzanine and first floor.

Plans for the refurbishment are on display according to the AFR which reported the retailer’s application.

New South Wales

Major Developments Set to Start in Double Bay, Sydney

June 18, 2012 Marc Pallisco Double Bay

ONE of Sydney’s most exclusive suburbs is about to see a rise in apartment skyscraper activity.

This month, it is expected authorities will approve a $65 million plan to revitalize Double Bay.

The Kiaora Lands site on New South Head Road, of which a redevelopment proposal has been discussed for more than a decade, will make way for one of the suburb’s bigger proposal. Two new commercial sites will replace existing aged care buildings.

New South Wales

PBA pays $15.6m for North Sydney office

June 21, 2012February 9, 2022 Marc Pallisco

THE Perth-based Property Bank Australia has paid $15.6 million for a North Sydney commercial investment.

It is the latest in a string of investments on the North Shore where PBA has invested recently.

Its latest acquisition, a five-level, 3540 square metre office on a 1034 square metre block at 51 Berry Street returns rent of $1.4 million per annum. It includes 42 car parks and had recently undergone capital value works.

The main tenant is ACE Limited which has occupied the building since new and recently signed a new five year lease.

New South Wales

Lend Lease’s APPF Commercial Buys Into $6 Billion Barangaroo Development

June 19, 2012 Marc Pallisco APPF Commercial, Barangaroo, KPMG, Lend Lease, Sydney CBD office, Westpac

LEND Lease’s “institutional flagship fund” APPF Commercial has reportedly acquired a small interest within the first two skyscrapers that will form part of the $6 billion Barangaroo project on Sydney Harbour.

It is speculated APPF’s stake is as little as between 7 and 12.5 per cent, which would exclude it from any decision making power on the project. Lend Lease and APPF Commercial declined to comment on the speculation reported by the AFR.

It’s understood major office tenants including Westpac and KPMG are to be announced as tenants in the two towers.

New South Wales

Ashurst leases Sydney CBD office

June 19, 2012February 7, 2023 Marc Pallisco

A major leasing deal at the historic office known as the money box will result in additional levels being added

New South Wales

Great Eagle Group Pays $40 Million For Observatory Hotel, Sydney

June 19, 2012 Marc Pallisco George Saade, Great Eagle group, Langham, Nara Corporation, Orient Express Hotels, Sydney Hotel Sale, The Rocks

GREAT Eagle Group, the listed Hong Kong property company has paid about $40 million for the Observatory Hotel in Sydney (pictured, right).

The purchase will add to the group’s 13-strong portfolio of international hotels it currently manages under the Langham and Langham Place brands.

Already operating in Melbourne, and Asia, Europe and the United States, the purchase of the 96-room Georgian style grand 19th Century home allows the group to offer a Langham brand in Sydney.

New South Wales

Two Adjacent Frenchs Forests Properties, Sydney, Sell For $32 Million

June 17, 2012 Marc Pallisco CVC Property Fund, Frenchs Forests

TWO adjacent properties in Warringah and Rodborough roads, Frenchs Forest, Sydney (aerial, right), have sold for $32 million. CVC Property

New South Wales

NSW Transport Department Spents $48.5 Million on Epping Office Asset Which it Will Demolish

June 18, 2012 Marc Pallisco Abacus Group, Epping NSW, FKP Property Group, ISPT, Mulpha, North West Rail Link

THE New South Wales state transport department has paid $48.5 million for a prominent suburban office park in Sydney, which it will bulldoze, as part of its $8.5 billion North-West Rail Link project.

The office park was offloaded by Abacus Property Group which paid $25 million for the asset in 1997.

A lot of the asset’s value lay in its residential redevelopment potential. Instead the site will become the location for the North West Rail Link’s Epping Services facility. The purchase gives the government four buildings near the Epping railway station and bus interchange in the suburban north-west.

New South Wales

Woolworths, Laundy buy Caringbah pub

March 3, 2012February 13, 2021 Marc Pallisco Caringbah, Dan Murphys, Laundy Group, Sydney Pub Sale, Woolworths

A NEWLY formed consortium including Woolworths and hotel industry veteran Arthur Laundy have made their first major property play in southern Sydney.

The consortium is reportedly paying $40 million for the Caringbah Inn, at 343 Port Hacking Road and a few kilometres from the bayside suburb of Cronulla.

The pub includes strong food and beverage earnings, poker machines, and a bottle shop which may be rebranded as Woolworths trademark Dan Murphys.

New South Wales

Markham Corporation Team With McDonald College to Build Major Apartment Tower on School Campus

February 29, 2012 Marc Pallisco Markham Corporation, North Strathfield

MARKHAM Corporation and McDonald College will develop a $90 million apartment complex on the college’s campus, in North Strathfield, in western Sydney (pictured, right).

Markham is working with the school redevelop the southern quarter of the George Street campus into a complex with between 100 and 200 flats, each priced at “less than $600,000”, according to the AFR which reported the proposal

The college will make money from capital gain valuations of the site, as well as from apartment sales. Markham will build a new boarding house facility on the balance of the site.

New South Wales

Crown International Holdings Group Pays $27 Million For North Sydney Development Site

February 28, 2012 Marc Pallisco Crown International Holdings Group, North Sydney, Studio Apartments, Sydney Residential Development Site Sale

CROWN International Holdings Group has paid $27 million for a North Sydney development site with plans and permits for a 180-unit apartment complex.

The 1600 square metre site at 211 – 223 Pacific Highway will be added to the portfolio of the Sydney-based builder, which according to the AFR, controls some $1 billion worth of apartments in local developments in Parramatta, Rhodes and above the Top Ryde City shopping centre in Ryde.

New South Wales

GE Money Sells Sydney Industrial Facility For $7.8 Million

February 27, 2012 Marc Pallisco Caringbah, GE

AN INDUSTRIAL-retail complex leased to five tenants including Officeworks and Big Blue River Meats has sold for $7.8 million, and

New South Wales News

Lin family’s North Epping home for sale

February 9, 2012February 18, 2021 Marc Pallisco

The North Epping property which was the scene of a multiple murder in 2009 has hit the market with a

New South Wales

Dexus Paying REST $60 Million For Sydney CBD Office

December 19, 2011 Marc Pallisco Dexus, REST, Sydney CBD office sale

SUPERANNUATION fund REST is believed to be close to selling a Sydney CBD office building to Dexus Property Goup for $60 million.

The 19-level, 10,896 square metre office at 50 Carrington Street (pictured, right) overlooks Wynyard Park and includes ground floor retail space.

Nine tenants lease the building which is about 25 per cent vacant. REST purchased the building from British Property Giant MEPC in 1998 as part of a portfolio.

New South Wales

Audi Leases Former Jimmy Possum Space, Mosman

December 18, 2011 Marc Pallisco Audi, Mosman Office Lease Deal

CAR maker Audi has leased Mosman office space formerly occupied by furniture maker Jimmy Possum.

The prestige car maker will pay annual rent of $539,888 to occupy the ground level space at 339 Military Road (pictured, right).

The space is currently undergoing a refurbishment according to the AFR which reported the lease.

New South Wales News

Nicole Kidman, Keith Urban spend $6m on penthouse

June 1, 2009January 31, 2021 Marc Pallisco

Nicole Kidman and Keith Urban have reportedly paid $6 million for a penthouse in Mirvac’s Latitude development at Sydney’s Lower

New South Wales

Thakral Holdings Close to Selling Wynyard Complex For $250 Million

December 14, 2011 Marc Pallisco Sydney CBD Development Site Sale, Thakral, westfield

WESTFIELD Group is reportedly considering buying the Wynyard Complex in the Sydney CBD.

The purchase from Thakral Holdings is for a reported $250 million and includes a small retail centre with access to George Street and which forms a concourse entrance to the Wynyard train station.

The asset also includes the 446-room Menzies Hotel, the Thakral House office building and a 335 bay car park, according to selling agency Jones Lang LaSalle.

New South Wales

ANZ sells 20 Martin Place for $95m

September 11, 2011February 5, 2023 Marc Pallisco ANZ Bank, Pembroke Real Estate, Sydney CBD office sale

BANK ANZ has sold 20 Martin Place in Sydney to Boston based property advisory Pembroke Real Estate, which is acting on behalf of an affiliate.

The 21-level office building is the first purchase of a property asset by Pembroke in Australia.

ANZ is relocating to a new Grocon development at 242 Pitt Street in 2013.

New South Wales

Larry Emdur spends $6.8m at Dover Heights

September 11, 2011March 3, 2021 Marc Pallisco

Larry Emdur, has paid a reported $6.8 million for a contemporary cliff-top home in Sydney east. The game show commentator

New South Wales

Australian Red Cross Sells Sydney CBD Headquarters For $31 Million

August 30, 2011 Marc Pallisco Australian Red Cross, St Hilliers, Sydney CBD office sale

THE New South Wales headquarters of the Australian Red Cross has sold for $31 million.

The eight-level building at 153-159 Clarence Street in the Sydney CBD was purchased by Melbourne based developer and construction group St Hilliers.

The art deco building has been the headquarters of the ARC and Red Cross Blood Service since 1974, but was built around 1938-1939 as a warehouse and showroom for wholesalers S. Hoffnug and Co.

New South Wales

Westfield, AMP to Extend North Ryde’s Macquarie Centre, Sydney

August 11, 2011July 25, 2019 Marc Pallisco AMP Capital Investors, David Jones, North Ryde, Sydney shopping centre development, westfield

AMP Capital Investors, with the Westfield Group, are set to redevelop the Macquarie Centre which they co-own in Sydney’s north.

The shopping centre upgrade will be the biggest undertaken in New South Wales for about ten years.

It will add a new David Jones store, a national supermarket chain and about 150 specialty stores – in a 30,000 square metre extension. Macquarie Centre is currently 96,500 square metres.

New South Wales

Sydney CBD’s $6 Billion Barangaroo Redevelopment Set to Start Construction After Years of Protest

August 9, 2011 Marc Pallisco Barangaroo, Sydney CBD Hotel Development, Sydney CBD Office Development

NEW state premier Barry O’Farrell will personally supervise the controversial $6 billion Barangaroo urban renewal project, set to replace industrial land – part of a Sydney Harbour container terminal, that ceased functioning in 2003.

The waterside project will include a compound of skyscrapers, one being a hotel that will jut into the water, in a copy of Dubai’s Burj al Arab tower.

The redevelopment was lobbied against by Greens groups and local councils, as well as wealthy Sydneysiders whose views will be lost. Protesters argued planning approvals were flawed, and resulted from the “mates” culture of the previous state Labor government.

New South Wales

Topshop Leases Sydney’s Iconic Gowings Building

August 3, 2011 Marc Pallisco Sydney CBD Retail Lease, Topshop, Zara

UK retail giant Topshop will open its first Australian store at Sydney’s high profile Gowings Building (pictured, right).

The building, at the corner of George and Market streets, was reportedly eyed off by Spanish clothing retailer Zara, which instead chose the Westfield shopping centre nearby.

Topshop is a popular online clothing retailer, and also operates from about 20 countries. Its flagship is in London’s Oxford Street.

New South Wales

First New Office in 20 Years to be Developed at Norwest Business Park, Sydney

July 22, 2011 Marc Pallisco Baulkham Hills, Capital Corporation, Norwest Business Park, Toga

Capital Corporation has started construction of a seven level, 11,000 square metre office at Sydney’s Norwest Business Park.

The development will also include 106 serviced apartments, to be managed by Toga Hospitality as the Media Apartments Norwest.

According to the AFR, which reported the new development, the new office is the first redevelopment in 20 years at Norwest, in Sydney’s north-west suburb of Baulkhum Hills.

New South Wales

Major Macquarie Park Project Should Start Construction Soon, Sydney

July 21, 2011 Marc Pallisco australand, LaSalle Investment Management, Leighton Holdings, Macquarie Park, Toga Group

CONSTRUCTION of a major new 561-unit apartment complex in Sydney’s Macquarie Park should start by the end of this year.

Global property group LaSalle Investment Management has teamed with Sydney’s Toga Group to develop the regional centre in Sydney’s north.

All planning approvals for the first stage of the project are in place, according to the AFR which reported the new development arrangement.

New South Wales

Parmalat Foods Leases Frenchs Forest Warehouse

July 13, 2011 Marc Pallisco Frenchs Forest Industrial Lease

PARMALAT Food, a dairy group whose brands include Pauls Milk, has signed a 10-year lease for 1281 square metres of space at Frenchs Forest in Sydney’s north.

The group is reportedly paying rent of almost $180 per annum per square metre to occupy the warehouse at unit 1, 4 – 6 Aquatic Drive.

The deal, co-ordinated by Jones Lang LaSalle’s Ryan Carey on behalf of Nelia, will see fixed rental reviews of 4 per cent.

New South Wales

Australand, LaSalle Pay $35 Million For Clemton Park Development Site, South-West Sydney

July 4, 2011 Marc Pallisco australand, Clemton Park, LaSalle Investment Management

LISTED institution Australand Property Group with partner LaSalle Investment Management, have paid about $35 million for a 5.5 hectare development site in Sydney’s south.

The Clemton Park site (aerial of the suburb, right) sold with a permit. It’s expected to deliver about 700 dwellings over a five to six year period.

Construction company Parkview sold the site, some 15 kilometres south-west from the Sydney CBD and near Earlwood, Kingsgrove and Campsie and not far from the city’s international airport.

New South Wales

Canterbury Marrickville Olympic Soccer Club Sells North Parramatta Office

July 6, 2011 Marc Pallisco North Parramatta Office Sale

AN OWNER occupier has paid the Canterbury Marrickville Olympic Soccer Club an as yet undisclosed amount for a North Parramatta

New South Wales

Labor Government Being Investigated by Corruption Commission Over $12.2 Million Pittwater Sale, Sydney

July 5, 2011 Marc Pallisco Eco Villages, LPMA, Pittwater

THE INDEPENDENT Commission Against Corruption was told a former NSW Labor government executive rushed to approve the $12.2 million purchase of waterfront land to avoid risk of a deal falling through.

Under caretaker conventions that were in place at the time, the government was not meant to be executing contracts. The investigation – for the Currawong site at Pittwater – is for a transaction recorded on March 15 from developer Eco Villages.

New South Wales

Despite Bleak Backdrop, Corporates Pay Top Dollar For Sydney Offices in 2011

June 20, 2011 Marc Pallisco Aurora Place, One Bligh Street, Sydney CBD Office Lease

CORPORATE heavyweights Bell Potter and Southern Cross Equities, which merged last year, have agreed to lease 3000 square metres of premium grade office space in Sydney’s landmark Aurora Place office building.

The lease, across the 37th and 38th floor, will see Bell and Southern Cross pay rent of about $1300 per square metre, per annum – amongst the highest rent paid for any CBD office in Australia.

Another tenant, Goldman Sachs, has renewed a 5000 square metre lease across three floors at the Grosvenor Phillip Tower, at the corner of Phillip Street and Farrer Place, also in Sydney.

New South Wales

Stockland Acquires Control of 339 Hectare East Leppington Site, Sydney

June 8, 2011 Marc Pallisco Leppington, Stockland

STOCKLAND has paid an as yet undisclosed sum to secure rights to progressively acquire 339 hectares of land in south-west Sydney.

The East Leppington site is near a proposed Leppington train station, some 14 kilometres from Liverpool and 50 kilometres from the CBD. It plans to build 3000 new homes on the site.

A Stockland statement about the transaction is copied below:

New South Wales

Lend Lease Wins $122.5 Million UNSW Contract

June 6, 2011 Marc Pallisco education, Kensington NSW, Lend Lease

LEND LEASE today announced a $122.5 million contract to expand and refurbish the University of New South Wales Wallace Wurth building.

The 10,000 square metre expansion is due for completion in March 2014.

Lend Lease released a statement about the contract, copied below.

New South Wales

Glenn McGrath to Sell $6 Million Waterfront Cronulla Estate

May 30, 2011 Marc Pallisco celebrity sale, Cronulla, prestige residential

SPORTSMAN Glenn McGrath can expect $6 million from the sale of his waterfront estate in Sydney’s Cronulla.

The former Australian text cricketer purchased the 3300 square metre property, with a pool, cabana and outdoor kitchen, in 2006. He wasmarried last November in the home’s large rear yard (image from the yard, right).

The five bedroom home also has a boat shed.

New South Wales

Michael Clarke Leaves Bondi

May 7, 2011 Marc Pallisco Bondi, celebrity sale, Lilli Pilli

AUSTRALIAN Cricket Captain Michael Clarke will this weekend vacate the $6 million Bondi apartment he once shared with former girlfriend

New South Wales

New Residential Development Set For Pemulwuy, Sydney

May 9, 2011 Marc Pallisco Pemulwuy, Sydney Residential Development Site Sale

PEMULWUY, in Sydney’s outer west, is set to see a new residential development, soon, after a builder paid $5.86 million

New South Wales

Woolworths, ALH, Move to Gain Control of Even more Poker Machines with Laundy Group JV

May 8, 2011 Marc Pallisco ALH Group, Bruce Mathieson, hospitality, Laundy Hotel Group, Woolworths

AHEAD of the federal government introducing new gaming regulations, retail giant Woolworths is believed to be in discussions with a burgeoning pub operator, to own a joint venture portfolio which would give it control of even more pokie machines.

It’s reported Woolworths has approached one of New South Wales largest publicans, the Laundy Hotel Group, which owns about 47 hotels and is considering proceeding with a $330 million purchase of another 20 hotels being sold the National Leisure & Gaming and Redcape Property Fund.

New South Wales

New $42 Million Apartment Compound at Bennelong Displayed For Public Comment

May 7, 2011 Marc Pallisco Bennelong, Lindsay Bennelong Developments

PLANS for a new $42 million, three-tower apartment compound in the Sydney suburb of Bennelong, are being displayed for public comment.

The development of a site between Neild and McLachlan avenues and New South Head Road, is being proposed by Sydney property group Lindsay Bennelong Developments. The three buildings will rise between six and nine levels with 112 flats. It will be flanked by ground floor retail.

The developer has recently completed a $180 million project next door, Advanx (pictured). That project, which replaced the Advanx Tyre & Rubber site, was delayed about six months because of a planning dispute.

New South Wales

North Sydney Office Sell-Off in First Quarter

May 1, 2011 Marc Pallisco Altis, becton, Colonial, North Sydney Office Sale, Property Bank Australia, Security Capital, Winten

NORTH Sydney’s office investment market has recorded several major sales in the first quarter of this year.

In the most recent deal, Colonial First State Global has offloaded 50 Berry Street for about $30 million to local investment company Kingsmede. The 14-level office was marketed by Chesterton International.

Elsewhere in North Sydney, 90 and 100 Mount Street sold to Laing O’Rourke for about $50 million, according to the AFR. The site is set to be redeveloped into an A-grade office tower. It was sold by Winten Property Group with plans for a $157 million tower.

New South Wales

Perisher Marrtiz Alpine Chalet to be Auctioned

April 18, 2011 Marc Pallisco New South Wales Tourist Accommodation Sale, Perisher, Snowy Mountains, Warren Anderson

PERISHER’s Marritz Alpine Chalet will be auctioned on May 16, as part of a settlement for the divorce of property tycoon Warren Anderson, and soon-to-be-ex wife, Cheryl.

The 25-suite Snowy Mountains lodge with a pool, bar and restaurant is expected to fetch about $3 million. The ski lodge fell into the hands of receivers KordaMentha in February and will be sold as a going concern.

Another property, the landmark Fernhill estate which includes an 1842 mansion, in Sydney’s outskirts, is expected to sell after Easter.

New South Wales

Late Michael McGurk’s Cremorne home for sale

March 30, 2011February 11, 2021 Marc Pallisco

THE luxury Sydney home outside which business Michael McGurk was murdered in 2009 has hit the market.

The 1916 built Californian bungalow in Cremorne has been on the market since Sunday with price expectations of about $4.75 million.

Mr McGurk paid $1.65 million for it in 2000.

New South Wales

Annandale Hotel for sale

March 31, 2011March 1, 2021 Marc Pallisco

Annandale Hotel is for sale. Matt and Dan Rule said the west Sydney property includes a permit allowing for a

New South Wales

Jacqui O to Sell Paddington Terrace For $3 Million

March 11, 2011 Marc Pallisco celebrity sale, Paddington

TELEVISION and radio personality Jacqui O has outgrown her inner-city Sydney terrace (right).

The new mum has listed the four-bedroom Elizabeth Street, Paddington home for sale with price expectations of about $3 million.

Jacqui with husband Lee Henderson will make a permanent tree-change to a new home they have constructed at Kangaroo Valley, on the NSW south coast. A studio will be developed at that home where the broadcaster will work from.

New South Wales

10 Wylde Street, Potts Point, Sells for $17-$20 Million

March 7, 2011 Marc Pallisco Ashington, Parissen, Potts Point, Potts Point Residential Development Site Sale, Sydney Residential Development Site Sale, Wylde Street

A POTTS Point residential development site has sold for between $17 and $20 million.

The property at 10 Wylde Street, is a hotel, but was to have become a luxury residential development.

Before the economic downturn a penthouse apartment in the proposed $70 million complex reportedly sold for a speculated $20 million before “falling through” after the publicity died down.

New South Wales

Toga Group Buys Kings Cross Hotel for $16.75 Million

March 6, 2011 Marc Pallisco Kings Cross, Sydney Hotel Sale, Sydney Residential Development Site Sale, Toga Group

THE Mansions hotel, in Sydney’s inner-city Kings Cross, has sold to developer Toga Group for $16.75 million.

The property, which currently trades as a pub, is expected to be converted into an apartment complex. Toga purchased the site on terms subject to this redevelopment being approved. The Mansions soars five levels. It was one of the last controlled by the Landmark Leisure Group which went into receivership in 2009.

Other sites owned by LLG included the Vegas Hotel, which like The Mansions is also in Kings Cross. Other assets include Darlingsford’s Oxford Hotel and the peakhurst Inn.

New South Wales

Control of Noosa Resort Seized by Receivers

March 9, 2011 Marc Pallisco leighton, macquarie, Noosa Hotel Sale, Queensland Hotel Sale, Suncorp

RECEIVERS McGrath Nicol has been appointed to seize control of a major, high profile resort developed by two major, high profile property institutions.

Suncorp Bank is seeking that a $43 million line of credit be repaid by Viridian Noosa Pty Ltd.

Viridian controls a $300 million resort by the same name, and operated by Outrigger. Leighton Properties and Macquarie Real Estate developed the five star resort which was completed last year.

New South Wales

Leighton, LaSalle Team to Build Major Erskineville Housing Estate

March 2, 2011 Marc Pallisco Erskineville, Erskineville Housing Redevelopment, investa, LaSalle Investment Management, Leighton Holdings

LEIGHTON Holdings has teamed with property fund manager LaSalle Investment Management to build a new housing estate in Sydney’s Erskineville.

The project will include 300 apartments and townhouses, and be developed on a former light industrial site, set to be rezoned to Mixed Use under the City of Sydney’s Draft Local Environment Plan (LEP).

The project is earmarked for a 1.6 hectare site at 36 Coulson Street, a site which also has frontage to MacDonald and Bridge streets. The development consortium paid Investa Property group’s Investa Enhanced Fund $21 million for the site.

It’s part of the Ashmore Precinct, identified by both the NSW state government and council as a precinct set for residential development.

One bedroom units in the new complex are expected to start at about $450,000, according to the AFR.

New South Wales

Stratham Family Quietly Market $490 Million NSW Rural Holdings

March 3, 2011 Marc Pallisco Armidale, Moree, NSW Rural Sale

PRIVATE family the Stratham’s are quietly selling two major rural holdings in northern New South Wales.

Keytah, west of Moree, measures 25,000 hectares, while Sundown near Armidale is 16,500 hectares.

The holdings are being offered globally via PwC and are expected to sell for about $490 million.

“The time has come at the age of 76 years to offer my life’s dream to purchasers or investors and trust they experience the same satisfaction, enjoyment and financial gain,” the family patriarch Neil Stratham told the AFR.

New South Wales

Mercure Potts Point Reopens After Renovation, But Doesn’t Sell

March 3, 2011 Marc Pallisco australand, Potts Point, Sydney Hotel Sale

SYDNEY’s 227-room Mercure Potts Point has opened after a major renovation that started three years ago.

A $63 million sale of the hotel, reported last month, is now reported to have fallen through. An international operator will be appointed to manage the hotel now, according to the AFR.

New South Wales

Redcape Property Trust Sells Sydney Pub For $9 Million

March 2, 2011 Marc Pallisco Redcape, Sussex Street, Sydney Pub Sale

SYDNEY’s Bristol Arms Retro Hotel, in Sussex Street, has sold to a private investor for $9 million.

The sale translated to a net yield of 10.9 per cent. The vendor was Redcape Property Trust.

The pub (right) sits on a 437 square metre block and includes two street frontages, and 1975 square metres of gross lettable area, according to the AFR.

New South Wales

Nespresso opens Biggest Store in Southern Hemisphere

March 2, 2011 Marc Pallisco Pitt Street Mall, Sydney CBD Retail Lease

COFFEE specialist Nespresso has opened its largest store in the southern hemisphere.

The new store, in Sydney’s Pitt Street Mall, follows the opening of a store in Melbourne’s ritzy Collins Street. Outside of Australia, Nespresso stores are in Paris’ Champs Elysees and New York’s Soho.

The Sydney store will be divided into four main areas, according to GQ which reported on the store opening.

New South Wales

Two Sydney Pubs Sell For $32 Million

March 2, 2011 Marc Pallisco Parramatta Pub Sale, Sydney CBD Pub Sale

SYDNEY pub owner Patrick Gallagher has sold Parramatta’s PJ Gallagher’s for $19.35 million to the Iris Hotel Group. At the

New South Wales

Eureka to Sell Exchange House, 10 Bridge Street, Sydney Office

February 28, 2011 Marc Pallisco Bridge Street, Eurkea, Sydney CBD office sale

A PRICE of $60 million is expected for Sydney’s 10 Bridge Street office building. Eureka, a fund manager, has listed

New South Wales News

Lachlan Murdoch spends $2.63m on neighbouring Bellevue Hill block

February 28, 2011February 18, 2021 Marc Pallisco

LACHLAN Murdoch is the latest young billionaire to expand his Sydney property holding, buying a delapidated property abutting the Bellevue Hill mansion he paid $23 million for last year.

The latest purchase, in Drumalbyn Road, was marketed as a renovation rescue and cost the couple $2.63 million. Spread over 1049 square metres, the property purchase gives Lachlan and wife Sarah, a second road to enter or exit their secluded estate

The couple’s Bellevue Hill mansion, Le Manoir, was a former consulate. It includes a tennis court, pool and garden and is spread over 4097 square metres.

Le Manoir (pictured, right), and the new Drumalbyn Road property (which would be to the left of the boundary marked in the image) are elevated, offering post card water views.

The properties are expected to be amalgamated, and then the main home renovated, seeing the couple are renting another $45 million home around the corner for two years, according to The Brisbane Times.

New South Wales

Bondi Apartment Complex Could Fetch $25 Million

February 16, 2011 Marc Pallisco Bondi, Bondi Beach, Sydney prestige residential, Sydney Residential Development Site Sale

A SOUTH African investor is set to reap between $17 million and $25 million, from the sale of an entire apartment block on Bondi Beach, in Sydney’s ritzy east.

The complex at 105 Ramsgate Avenue includes 10 apartments, and the only “boathouse” on Bondi Beach – a small cupboard effectively, big enough for a kayak sized vessel.

The vendor, businessman and developer Neill Miller, is selling the block after obtaining a permit to build three luxury apartments on the site.

New South Wales

Eureka Funds Management Pays $83.2 Million For Sydney CBD Office

February 8, 2011 Marc Pallisco Aria Property Trust, Clarence Street, Eureka Funds Management, Sydney CBD office sale

IN one of the first major CBD office transactions for the year, Eureka Funds Management, on behalf of the Aria Property Trust, has purchased an investment in Sydney.

Allianz Australia, as vendor, is reported to have achieved a sale price of $83.2 million for the 17-level, 14,962 square metre office at 55 Clarence Street.

The building is 98 per cent occupied to tenants including AAPT, Allianz Australia and Gray & Perkins Lawyers.

The sale price reflects a yield of about 8.4 per cent. CB Richard Ellis agents Josh Cullen and Rick Butler negotiated the deal.

New South Wales

New Plans Lodged For Ritz Carlton Hotel, Sydney

February 8, 2011 Marc Pallisco Ashington, Double Bay, Ritz Carlton, Stamford Plaza, Sydney Development Dispute

NEW plans have been lodged to redevelop the notorious, but rundown Sydney hotel where INXS lead singer Michael Hutchence died.

The former Ritz Carlton hotel – which was later rebranded the Stamford Plaza before closing in 2009 – has been the site of a development dispute for some years.

A previous owner, Ashington, planned to build a high rise mixed use project with a hotel and apartment tower, but could not get its proposal through council.

The hotel sits in Sydney’s exclusive eastern suburb of Double Bay, and the council has been strict, up until now, that developers build within a five level height limit. The Stamford Hotel however is six levels.

New South Wales

Union NSW Sells Currawong Beach Property, Sydney, For $11 Million

February 7, 2011 Marc Pallisco Currawong, Sydney Residential Development Site Sale

A HISTORIC property in Currawong Beach, on Sydney’s northern beaches, has sold for $11 million. Eco Villages Australia, owned by

New South Wales

Abacus and Kirsh Buy Sydney CBD Offices

January 19, 2011 Marc Pallisco Abacus, Kirsh Group, Martin Place, Sydney CBD office sale

PRIVATE investor Kirsh Group has paid a combined price of $153.5 million for two Martin Place, Sydney office towers.

The private group worked with the ASX listed Abacus Property Group to acquire No 14 Martin Place for $95 million. Kirsh purchased 4 Martin Place on its own, for $58.5 million. Wealthy publican Cyril Maloney was the vendor of both properties.

The sales reflect market yields of about 8 per cent.

Last August, Kirsh and Abacus paid $174 million for the Birkenhead Point Shopping Centre and Marina, also in Sydney.

New South Wales

James Packer to Amalgamate, Redevelop Vaucluse Supersite

January 17, 2011 Marc Pallisco Guildford Bell, Sydney prestige residential, Vaucluse

BILLIONAIRE media and gaming magnate James Packer has received council approval to redevelop a 3369 square metre sloping site in Sydney’s ritzy eastern suburb of Vaucluse.

Mr Packer with wife Erica (picture, above) has acquired three adjoining homes between Wentworth and Victoria roads.

The largest home – a 1970s, unrenovated Guildford Bell designed mansion will be retained (view from pool, right). Mr Packer, through company Monac Developments Pty Ltd, paid $18 million for this home in mid 2009.

New South Wales

Tweed Heads’ Cobaki Lakes construction nearer

December 16, 2010February 21, 2021 Marc Pallisco

A major housing estate near the New South Wales/Queensland border is closer to starting with NSW Planning Minister Tony Kelly

New South Wales

Altis Property Pays Becton $38.25 Million For North Sydney Office

December 17, 2010 Marc Pallisco Altis, becton, North Sydney, North Sydney Office Sale

BECTON Office Fund has sold a North Sydney office to Sydney-based private equity group, Altis Property Partners for $38.25 million.

The office at 2 Elizabeth Plaza spreads over 12 floors and sold on a yield of 10 per cent, according to the AFR, which reported the transaction.

Becton paid $53.9 million for the office investment in February 2007.

New South Wales

Century Old Abbotsford School Set to Become Apartments

November 29, 2010 Marc Pallisco Abbotsford, New Melbourne Apartment Development, school

IT WILL be the end of another era in Abbotsford when apartment builders redevelop the property known for more than a century as the St Joseph’s Technical School.

The prominent site at 73 – 103 Nicholson Street, at the intersection of Mollison and Little Charles streets, has sold for more than $9 million to a developer.

Operating between 1893 and 1990 under the auspice of the Christian Brothers, and more recently as a campus for Steiner school Sofia Mundi, the 4800 square metre inner-city site was offloaded by the Roman Catholic Trust Corporation for the Diocese of Melbourne.

New South Wales

Hospitality Investors Understood to be Paying $26 Million For Fairmont Resort, Blue Mountains

October 31, 2010 Marc Pallisco Blue Mountains, Resort Sale, Sydney Hotel Sale

MILLIONAIRE businessman Jerry Schwartz is understood to be in negotiations to buy the Fairmont Resort at the Blue Mountains for about $26 million.

The 210-room York Fairmont Resort at Leura is being sold by Deloitte partners, as receivers and managers of Brighten Pty Ltd, the former operator.

Mr Schwartz is a cosmetic surgeon and property owner.

New South Wales

Fairfax Family Proposes Redevelopment of Sydney CBD Office Site

November 2, 2010 Marc Pallisco Fairfax family, Pitt Street, Sydney CBD Apartment Development, Sydney CBD Office Development

THE Fairfax family plans to demolish a 14-level office in Sydney’s CBD, and replace it with a 32-storey building which would have an end value of about $86 million.

The mixed use project, which would soar 121 metres at its highest, will rise from Pitt Street and include a six level office component, shops and a residential tower.

Fairfax paid $30 million for the approximate 40 year old building, in 1989, according to the AFR.