Lend Lease Pays $27 Million For Queensland Industrial Asset
LEND Lease Real Estate Investments has paid a reported $27 million for a major property on Boundary Road, Richlands. The
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BER Waste Being Uncovered
THE levels of waste being uncovered as part of the Rudd government’s Building the Education Revolution are continuing to come to light with a report in The Australian showing school canteens built by the Catholic school system under the controversial $16.2 billion program, are up to five times cheaper than those delivered by the government.
Geraldton’s St Lawrence Primary School at Bluff Point has developed a 10m x 7.5 m canteen for $4043 per square metre.
By comparison, the governments “unusable” small NSW canteens, measuring 8.47m x 3.1 m, costs $23,000 per square metre.
Read moreFinbar Pays $10.6 Million For Altus Site, East Perth
KORDAMENTHA, the administrator for failed property developer Saville Australia, has recovered $10.6 million from the sale of a Perth development site.
The Altus apartment development site in East Perth, has been purchased by a consortium including listed property developer Finbar and its joint venture partner Wembley Lakes Estate of Indonesia.
The developers plan to scale down the major apartment project that was proposed for the Altus site. Its new plans are for a 10-storey development with 220 apartments, to replace a 32-storey proposal with 250 larger apartments.
Read moreNew financial year off to good start
Homeowners have had a welcome start to the new financial year with interest rates remaining unchanged in July, the Real Estate Institute of South Australia (REISA) said today.
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Lower Density Design to Replace Site Abutting Melbourne’s Tower of Power
SOME of Melbourne’s most influential businessmen, including active Liberal Party supporters, have defeated a developer’s plan to build a 29-level skyscraper which would have blocked Port Phillip Bay views enjoyed from apartments they own or occupy in a prestigious complex next-door.
New images affecting a site at 35 Albert Road, and to be marketed as The Emerald, Melbourne, show a 19-level, 282 unit residential project (pictured, above), which will rise no higher than 60 metres.
The proposal replaces a higher density, 420-unit application (pictured, above, right) which was the subject of a high profile development dispute in 2010.
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Jacqui O to Sell Paddington Terrace For $3 Million
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.
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Price of Land at Noosa Estate Dropped
RESIDENTIAL land blocks at a Noosa estate have been reduced, two years after the project was placed in receivership.
Blocks within the Beach Road estate at the $200 million Noosa North Shore project started at $1.4 million but have been reduced to $810,000.
The agent, Tom Offermann of Tom Offermann Real Estate said the revised price is expected to attract a different demographic to the area. It’s expected the move will generate another $20 million in sales for receives of the Petrac Group, Ferrier Hodgson.
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Woolworths to 31 Retail Assets
WOOLWORTHS has launched a campaign to sell 31 Australian shopping centres and three development sites.
Most of the centres are anchored by Woolworths, as service stations, supermarkets, Big W, BWS and Dan Murphy liquor outlets.
Twenty of the assets have been developed already. Another 11 are under construction and three are blocks of land with permits and Woolworth related lease agreements in place.
Read moreReceiver’s Called in For Developers Of Perth’s Former Emy Brewery Site
RECEIVERS have been called in for the developers of a prominent apartment project on Perth’s western fringe.
Read moreStrong rural economies support real estate growth
South Australia’s regional housing markets have continued their strong growth, according to the latest real estate statistics released today by the Real Estate Institute of SA (REISA).
Read moreWhich Coast and Country Regions Have Yet to Peak?
Picking which one of Victoria’s coast and country townships will excel is no easy task, reports Marc Pallisco.
With Victoria’s coast and country real estate markets performing so well for so long, one could be forgiven for thinking the boom hasn’t ended.
Not so.
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Monash City Council Sells Former Aged Care Facility, Oakleigh South
MONASH City Council has sold a spectacularly located development site opposite the Huntingdale Golf Club to a developer for $3.76 million.
The 6712 square metre, Residential 1 zoned block at 1213 – 1217 Centre Road on the north-east corner of Huntingdale Road, in Oakleigh South, was until recently known as the Clarinda Centre For The Aged.
Next door to a former quarry, the site is expected to make way for a medium density apartment project, but was not sold with a permit.
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10 Wylde Street, Potts Point, Sells for $17-$20 Million
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.
Read moreQueensland Government Appoints Builder For $7 Million Whitsunday Coast Airport Terminal Redevelopment
THE Queensland government has appointed commercial builder TF Woollam & Sons to undertake a $7 million upgrade of the Whitsunday Coast Airport terminal and passenger airport.
A government statement is copied below:
Minister for Infrastructure and Planning The Honourable Stirling Hinchliffe
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Class Action as a Result of Bungled Home Insulation Program
TAXPAYERS will flip the costs defending the Rudd government against an expected 800 class action law suits, as a result of the bungled $2.5 billion home insulation program.
Insulation companies are seeking to recover costs associated with materials, training and other expenses incurred had the program continued until next December, as planned.
The insulators will also seek to be compensated for potential lost profits, until that time.
Read moreGlobal Research Finds Perth Still Worlds Tightest Office Market
Perth still holds the title of the tightest CBD office market in the world, however Brisbane has slipped down the rankings from number 2 to number 6, according to Colliers International’s biannual Global Office Real Estate Review Midyear 2008.
Read moreAdelaide’s real estate market returns to boom conditions
The Adelaide real estate market is red hot with no signs of abating, according to the latest June quarter housing figures released today by the Real Estate Institute of SA (REISA).
Read moreRental Crisis Spurs Property Investor Boom
Melbourne’s 284,000 renting households are finding themselves caught between a rock and a hard place.
On the one hand vacancies for rental properties are at an all time low 1.7% – and landlords know it. This is especially true in inner city suburbs such as Carlton, Richmond and South Yarra, where vacancy is just 1.5%.
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Residential Developer Buys Camberwell Site Until Recently Earmarked to Become Offices
A PROMINENT Camberwell development site opposite the suburb’s Town Hall and until recently earmarked to become a $50 million office building, has sold for $7.7 million to residential developer, Trenerry Property Group.
The site at 347 Camberwell Road, north-west of the busy Camberwell Junction, sold with a permit for a four-level, 8277 square metre office.
However given the recent success apartment projects in the area recently, including Aerial at the Camberwell Junction, the vendor, local developer CGA Bryson, was pursuing another permit for a residential based project with just 1000 square metres of office space, and 112 flats.
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Toga Group Buys Kings Cross Hotel for $16.75 Million
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.
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FKP Signs Iveco Australia to Rocklea Warehouse, Brisbane
SYDNEY-based developer FKP has signed trucking company Iveco Australia to a 10 year lease at an industrial facility in Rocklea Brisbane.
The 5.3 hectare property deal gives Iveco expansion space throughout the next decade, if required.
Read moreBills to Increase up to 25 Per Cent After Proposed Mining Tax
MORTGAGE holders face a 25 per cent increase in power bills as a result of the Rudd Government’s proposed 40 per cent tax on the mining industry.
La Trobe University tax lecturer Tony Anamourlis said the tax will “chew away substantial profits…thus affecting the prices of electricity and gas, which will skyrocket prior to its implementation (in July next year)”.
He estimates residential power bills will increase between 10 and 25 per cent.
Read moreHouse prices flat – rents up; REIWA releases data for the Dec quarter of 2007
Preliminary data by the Real Estate Institute of WA suggests Perth’s housing market was flat-lining in the December Quarter of 2007, with no movement either up or down for the last three months of last year.
However, REIWA President Rob Druitt said he expected the data to show a small overall increase once final settlements are processed.
Rental market stabilising
Adelaide’s rental vacancy rate has stabilised at 1.34% for the month of June, according to the Real Estate Institute of SA’s monthly survey.
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Major Tower Earmarked To Replace Coburg Church
PLANS are afoot to redevelop a prominent former Church abutting the Coburg train station.
At 146 Bell Street, Coburg, the triangle-shaped site is near the corner of Sydney Road, the Pentridge Village redevelopment, and several council-owned sites which form part of the $1 billion Coburg Initiative, one of the largest urban renewal projects outside of central Melbourne.
A council spokesman said the Coburg Initiative will still take place despite the ending of a joint venture agreement with local developer Equiset last year. The project may have included sinking the Coburg train station opposite 146 Bell Street to develop a new apartment-based village above.
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Control of Noosa Resort Seized by Receivers
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.
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Stockland Considering Selling Brisbane’s Waterfront Place Office as a Whole
SYDNEY based developer and fund manager Stockland is reportedly considering to sell all of its Waterfront Place office building in Brisbane, after failing to offload a half share since April.
The 36-level building with lower level retail has become tired, and institutional purchasers were said to be turned off by the idea of redeveloping the office and retail components, with a joint venture partner.
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DFO Buyer Close
THE hugely successful Direct Factory Outlets property portfolio looks likely to be heading overseas, with British Based Pradera Asset Management reportedly the frontrunner to buy the assets.
It’s believed the group will pay more than $1.2 billion for DFO’s eight centres.
DFO is owned by Austexx, a company directed by Melbourne businessman David Goldberger and David Weiland, which develops and owns commercial and to a lesser extent residential property assets.
Read moreAgents call for patience as rental crush resurfaces
Real estate agents and property mangers are urging prospective tenants to be patient as the annual rental crush resurfaces in Perth.
President of the Real Estate Institute of Western Australia, Rob Druitt, said seasonal factors and the low vacancy rate for accommodation was causing stress with many over worked agencies struggling to keep up with enquiries.
Read moreHigher interest rates to put pressure on homebuyers
Homeowners will be forced to tighten their belts in the wake of this month’s interest rate rise, the Real Estate Institute of South Australia (REISA) said today.
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Read moreBaby Boom Spurs Demand For Middle Ring Suburbs
It’s official – Australia is in the midst of a mini baby boom – and one that is causing a grand old game of musical chairs in Melbourne’s inner and middle ring suburbs.
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Scene of the Great Bookie Robbery For Sale
OPEN Universities Australia is selling its former head office, which was also the scene of the 1976 Great Bookie Robbery.
The online tertiary education facility can expect to make about $4.4 million for its strata office, which includes levels one and two of the historic 131 Queen Street building. Connected by an internal staircase, and with a restored grand boardroom, each level measures 675 square metres.
For years the building was owned and occupied by the Victoria Club. DTZ agent Craig Hembrow said the robbery was perpetrated in the former Club boardroom on the first level (pictured).
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Leighton, LaSalle Team to Build Major Erskineville Housing Estate
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.
Read moreBrisbane City Council Leases 8000 Square Metres at Brisbane Transit Centre
THE Brisbane City Council will lease 8,000 square metres of office space at the Transit Centre.
The council will fill Telstra space which has sat vacant for six months, and is contributing to the Brisbane CBD’s high office vacancy rate of 10.9 per cent.
Owners GPT Group and the Lend Lease managed Australian Prime Property Fund recently upgraded the 30,000 square metre office from B grade, to A grade quality.
Read moreDowner EDI Reaps $16.4 Million From Sale of Australian Portfolio
ENGINEERING firm Downer EDI has sold seven industrial sites across Australia, reaping a total of about $16.4 million.
In the biggest sale, a Somerton laboratory with a 15-year leaseback to Downer, sold for $7.6 million to a private investor. The sale price equates to a 9.3 per cent yield.
In Geelong an engineering plant sold for $2.23 million on a 7.4 per cent yield.
Read moreInterest rate rise unwelcome in WA
The Real Estate Institute of Western Australia said today’s lift in the official cash rate by the Reserve Bank was not surprising but was disappointing.
REIWA President Rob Druitt said the WA property market was ‘cool and stabilising’ after the boom and did not require any further brakes applied to it.
Read moreRelief in Adelaide’s rental market
REISA President Mark Sanderson said that winter had brought some much-needed relief to struggling tenants with the vacancy rate at 1.4% for the month of July.
Read moreMore Women Buying Property
Footloose and fancy free female seeks accountant, bank lender and real estate agent – for date with financial security.
That’s right, girl power is ripe in Melbourne’s real estate game, and it’s a trend that doesn’t look like slowing any time soon.
Agents say the days of women waiting for a man to get into the property market are gone. Waiting for blokes, especially those that have their act together, costs money – and smart girls aren’t waiting around to watch opportunity pass them by.
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Stonington being sold down again
Part of Malvern’s Stoningon estate in Malvern – once the Governor General’s residence and which many Melburnians believe should never
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Stratham Family Quietly Market $490 Million NSW Rural Holdings
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.
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US Businessman Pays $23 Million For Sunshine Coast’s Sirocco Plaza Complex
A UNITED States businessman has paid $23 million for Sunshine Coast’s Sirocco Plaza shopping centre. The Mooloolaba property was offloaded
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Rawlinsons Costs at Odds With That BER is Paying
RAWLINSONS – the construction industry’s cost handbook – is going a long way into highlighting waste in the ALP government’s $16.2 billion Building the Education Revolution program.
According to the latest edition of the Rawlinsons Constrution Handbook, single level primary school buildings should cost about $1350 per square metre to construct.
By comparison, the NSW government is spending $13,306 per square metre building 21 canteen buildings in public schools.
Read moreRay White Invest & Blair Group Buy Currambine Marketplace, Perth, For More Than $50 Million
Specialist direct property funds management group Ray White Invest and private retail developer Blair Group today announced the joint acquisition of the Currambine Marketplace in Perth from Woolworths Ltd for in excess of $50m with proposed expansion plans to significantly increase the value of the property.
Read moreUnchanged interest rates ‘relief’ for homebuyers
Today’s announcement by the Reserve Bank of Australia to leave interest rates unchanged is a relief after last month’s rise, the Real Estate Institute of South Australia (REISA) said.
Read moreHousing Affordability Weakens as Investors Swoop in
Housing Affordability Weakens as Investors Swoop in
Prospective home buyers dealt some cruel blows over the last couple of years.
For starters, the Reserve Bank lifted interest rates – three times – seriously affecting the amount first home buyers were able to borrow, and pushing some of them out of the market completely. Most bank interest rates today circle 7 to 8 per cent – an increase of about 1 per cent on last year.
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Shark Fin House Building, Chinatown, Melbourne, To Sell for Some $7 Million
THE Little Bourke Street building that houses popular Chinatown restaurant Shark Fin House is for sale and expected to sell for about $6.8 million.
At 131 – 135 Little Bourke Street, the four-level building includes approximately 930 square metres of net lettable area, and sits on a 288 square metre block between Russell and Exhibition streets.
Built in 1987, the building returns annual rent of almost $400,000, and is leased until 2018 with a ten year option.
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Mercure Potts Point Reopens After Renovation, But Doesn’t Sell
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.
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Stockland Pays $48.7 Million For South East Queensland Residential Development Sites
STOCKLAND has paid $48.7 million for residential development sites in south-east Queensland.
In an announcement to the Australian Stock Exchange, the Sydney-based developer and fund manager said the properties are about six kilometres south of the Ipswich CBD and 36 kilometres south-east of Queensland capital Brisbane.
Stockland said it looks forward to working with council to deliver value for money homes that cater for a variety of budgets.
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Unsustainable Housing Bubble in Australia, Expert Warns
EDWARD Chancellor, the man who predicted the global credit led economic downturn in 2007, has referred to Australia as being amidst an “unsustainable housing bubble” with values potentially more than 50 per cent above their fair market value.
Mr Chancellor, who is employed by US investment bank GMO, said Australia is in the middle of a once-in-a-40 year event, adding the bubble could burst at any time.
“If house prices were to revert to their historic long-term average (ratio of average price to average income) they would fall quite considerably,” Mr Chancellor said of values.
Read moreNo room at the inn: rental vacancy rates slump around Christmas
Residential rental vacancy rates have averaged an all-time low of 1.9 per cent across Australia for the past two and a half years, according to data published today in the Mortgage Choice/Real Estate Institute of Australia (Canberra), Market Facts report, September quarter edition.
Read moreRental market offers relief to tenants
Adelaide’s residential vacancy rate has stabilised at a healthy 1.5% for the month of August, according to the Real Estate Institute of South Australia.
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Victorian Planning Minister Approves $271 Million Expansion of SP Ausnet Facility, Brunswick East
ONE of Brunswick East’s biggest developments will take place behind wire gates, after planning minister Matthew Guy approved a $271 million expansion of SP Ausnet’s Brunswick Terminal Station, at the T-intersection of Glenlyon Road and King Street.
The application for the site, which abuts the Merri Creek and is near the suburb border of Fitzroy North and Northcote, was to have been decided by the Victorian Civil and Administrative Tribunal after the Moreland City Council rejected the proposal last November.
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Redcape Property Trust Sells Sydney Pub For $9 Million
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.
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Major $145 Million Village Planned for Site Near Sunshine Coast
THE Azure Blue Kawana Lifestyle Community will be developed on a 6.3 hectare site at Wurtulla near Queensland’s Sunshine Coast.
The site will include 130 retirement village units with 48 serviced apartments, 70 luxury villas and a 96 bed aged care service, Blue Care executive director Stephen Muggleton told the AFR.
Read moreLend Lease Appoints New American CEO
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.
Read more2007 a turbulent year for renters and buyers
The Real Estate Institute of Australia, based in Canberra, released its annual summary of the residential and commercial real estate market on 19 December 2007, providing a unique insight into what the market had done over the 2006-07 financial year.
Read moreReal estate sector welcomes steady interest rates
The Real Estate Institute of South Australia (REISA) has today welcomed the announcement to leave the official cash interest rate unchanged for the month of October.
Read moreThe pros and cons of rental guarantees
What’s in store for apartment investors when the rental guarantee runs out? Marc Pallisco finds out.
According to most real-estate agents, Melbourne’s apartment market has decelerated from the heady heights of the late 1990s. As such, developers have been forced to devise new methods to maximise existing demand, with the goal for many being to achieve enough pre-construction sales to make the development profitable.
One concept that has gained popularity in recent years is the rental guarantee.
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Development Site, Southbank, For Sale With Permit
PLANS are afoot to develop another major skyscraper on a Southbank site abutting the West Gate Freeway.
The affected site at 61-71 Haig Street, with rear access to Blakeney Place, is on the city side of the major freeway, near Crown Casino, the Melbourne Exhibition Centre and Clarendon Street shops.
Now being offered for sale, and with price expectations of about $14 million, the 1857 square metre site is not being offered with a permit. However the area is permitted for buildings of about 100 metres, meaning the commercial sites could make way for a residential tower of about 30 levels.
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Nespresso opens Biggest Store in Southern Hemisphere
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.
Redcape Hopes to Recover $24 Million From Pub Sales
ASX listed Redcape Property Group will sell two large pubs including the Kirra Beach Hotel in the Gold Coast, and the Lakeview Hotel in Illawarra, in New South Wales.
Redcape, the new name for the Hedley Leisure & Gaming Property Fund, is expected to make about $24 million from the sales.
Recently Redcaoe offloaded the Mountain Creek Tavern at Mountain Creek on the Sunshine Coast for $7.25 million, and the Wattle Grove Hotel in Sydney’s Wattle Grove (for $8.6 million).
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Sydney the Most Overpriced Property Market in Australia: Survey
A SURVEY by commercial real estate agency PRDnationwide (owned by Colliers International) has found Sydney is the “most overpriced property market” in the country, followed by Brisbane.
Melbourne and Perth ranked as the least overpriced, according to the agency-based research group.
A PRDnationwide release is below:
Mandurah still very affordable : REIWA debunks ‘clumsy’ survey
The Real Estate Institute of Western Australia has questioned the methodology and sales figure used in a recent international survey which claims Mandurah to be the most unaffordable city in Australia.
Read moreCountry house prices ease
House prices in regional South Australia have eased in the September quarter but are still showing strong long-term growth, the Real Estate Institute of South Australia (REISA) says.
Read moreShaping the future of Melbourne
Battle lines have been drawn in the sand as planners and protest groups debate our sprawling suburbs. Marc Pallisco reports.
The
contentious Melbourne 2030 planning controls continue to divide the
community. On the one hand, some industry experts warn Melbourne could
become another overextended Los Angeles if we don’t halt the urban
spread. Meanwhile, protest groups in suburb after suburb complain of
higher-density living being foisted upon them. They claim their
neighbourhoods are in danger of losing their character.
Somewhere in between these factions may be the future Melbourne.
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Vasey RSL To Sell Hawthorn Hostel For $7 Million
ANOTHER property in Lisson Grove, one of Hawthorn’s most revered tree-lined streets, may be replaced with a medium density, luxury apartment village.
At #20, Vasey RSL Care has listed for sale a 3560 square metre hostel that is being marketed as a development site, and is expected to sell for about $7 million.
The property includes a historic building up front, and a 1960s rear extension with a communal kitchen, dining and recreation rooms and 58 independent living units mostly configured as bedsits and one-bedroom flats.
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Two Sydney Pubs Sell For $32 Million
SYDNEY pub owner Patrick Gallagher has sold Parramatta’s PJ Gallagher’s for $19.35 million to the Iris Hotel Group. At the
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Canberra Raiders Reportedly Buying Brisbane CBD Office For $26 Million
RUGBY League club the Canberra Raiders is reportedly looking at buying a Brisbane office building for $26 million.
The club, which has been looking for a major commercial property asset to suit its long term strategy, recently paid $4.5 million for an office in the inner-northern suburb of Milton.
It’s latest reported acquisition, at 10 Felix Street, includes a 10-level office building. It is being sold by property investor Kevin Seymour, whose company the Seymour Group is also in the process of offloading the 3.5 hectare Milton Tennis Centre site to the Brisbane City Council.
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ALP’s Commission Flat Building Boom Underway Without Community Consultation
THE Federal Government’s contentious plan to build record amounts of commission flats and social housing around your streets, and without proper community consultation – seems to finally have caught the attention of the wider community.
Despite anger in some States that details about the mass roll-out of commission flats have been deliberately kept from the community – the State ALP governments are pushing ahead with major public housing projects.
State governments need to do so in an attempt to collect part of the massive taxpayer-funded $5.6 billion the Federal ALP government has allocated to the initiative, for projects completed before a 2012 deadline.
Read morePerth house prices rise in December quarter
Perth house prices increased by 1.1 per cent in the December quarter 2007.
This follows a 1.3 per cent rise in the September quarter. Together these quarterly increases have clawed back all of the fall in prices experienced in the June quarter.
Read moreSurging house prices in Adelaide
House prices in Adelaide have gone from strength to strength in 2007 with the median house price reaching $320,000 in the September quarter.
Read moreRenter generation could be here to stay
For many renters, high prices are turning the great Australian dream of home ownership into exactly that – a dream, writes Marc Pallisco.
Melbourne’s 284,000 rented households have a very big decision to make this year – plan ahead to buy, or risk being muscled out of the market.
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Pickles Auctions Signs Large Short Term Lease to Cope With Hail Damaged Vehicles
PICKLES Auctions has signed a short-term lease for 60,000 square metres of industrial space, until recently occupied by one of its rivals, Fowles.
In the western suburb of Braybrook, the property at 594 – 598 Geelong Road was required to cope with an influx of some 10,000 vehicles which recently found their way onto the company’s books following the hail storms of Christmas Day.
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Eureka to Sell Exchange House, 10 Bridge Street, Sydney Office
A PRICE of $60 million is expected for Sydney’s 10 Bridge Street office building. Eureka, a fund manager, has listed
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Stockland in $70m play for Centro Hervey Bay
Stockland is reportedly paying about $70 million for shopping centre Centro Hervey Bay. The asset is being offloaded by Centro
Read moreLend Lease Appoints New Director of Operations
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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