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

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Dulwich Hill KFC sells following auction integrating private online bidding

A fast food investment in Sydney’s Dulwich Hill sold on a low 3.17 per cent yield following an auction integrating private online bidding. Cushman & Wakefield marketing agent Yosh Mendis said the virtual public sale of 498-500 New Canterbury Road “confirmed that investors have been quick to embrace new technologies and adapt to realities of

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Pace Development Group sells strata retail investment in Abbotsford’s St Crispin House

Pace Development Group has sold a strata retail investment on the ground floor of its recently completed St Crispin apartment complex in Abbotsford. The 250 square metre space, 249 Johnston Street, traded for $2.11 million to a South Australian. Leased to bottle shop Blackhearts and Sparrows for 10 years with fixed annual rises, the result

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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

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Konfir Kabo banks $6 million-plus selling Gisborne service station after three hours

Three hours was what it took to seal a $6 million-plus deal for a service station in Melbourne’s north-west Gisborne. Property investor, lawyer Konfir Kabo, offered 23 Robertson Street in mid February. Quinn Reynolds’ Marcus Quinn and Lincoln Reynolds, with Appel Property’s Ben Appel as transaction manager, closed a deadline private sale campaign last Friday.

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Daniel Besen paying c$9 million for Fitzroy warehouse with development upside

EXCLUSIVE Businessman Daniel Besen is paying the owners of hairdressing product supplier Turnley’s a speculated $9 million for a prominent office/warehouse with development upside in Fitzroy. The asset, 1-9 Gertrude Street (pictured), near the north east corner of Nicholson Street and Royal Exhibition Building, was marketed to investors, owner occupiers and local and international developers

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Stockland paying $415 million for control of Box Hill’s $4 billion The Gables housing estate

Stockland is paying Celestino Property Development, which is owned by poultry entrepreneurs the Baiada family, $415 million for the undeveloped 196 hectare portion of The Gables housing estate, in Sydney’s Box Hill. The master-planned community has since 2015 been replacing 293 hectares of dairy farm land, nearly 50 kilometres north west of the city. Upon

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Hoyts, Credabl amongst tenants to commit to Bayley Stuart’s 600 Church Street, Cremorne

Commercial property investment manager Bayley Stuart has enjoyed more leasing success at one of two offices it is constructing in Melbourne’s exclusive Cremorne. Hoyts, a subsidiary Valmorgan and Credabl – a Rialto-based loan service provider for doctors – will join already reported occupiers, Axil Coffee Roasters, Victory (serviced) Offices and Nine Entertainment’s Domain, at 600

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Dennis family’s Ranfurlie Asset Management pre-commits Bunnings to Tarneit Park Hub

Ranfurlie Asset Management, the Dennis family’s retail and commercial division, has pre-committed Bunnings to a 16,500 square metre outlet at its proposed Tarneit Park Hub. With that lease, stage one of marketing for the 46,000 sqm project is complete. The hardware store (artist’s impression, top) is due for completion at the end of the year

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Leaf Corp creates high yielding investment renting former Target HQ to Gateways

The North Geelong property owner-occupied by Target as its headquarters for more than 40 years, until 14 months ago, has been rented to not-for-profit agency, Gateways Support Services. Teska Carson and Colliers International brokered the 10-year deal for 11,108 sqm of office space. It is understood the occupier, an autism support specialist, is paying about

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Prahran warehouse owner-occupied for 130 years sells for $6.635 million

A mixed-use complex comprising offices and residential, possibly above retail, is expected to replace one of Prahran’s highest profile sites, which sold at a well-attended auction yesterday. The AW Hinton & Sons building at 49-51 Izett Street was knocked down for $6.635 million – or $1.235 million over reserve. Vendor the Hinton family had owner-occupied

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