Liquidators Called For Miller Homes, But Wincrest Homes Back in Business
SYDNEY-based home builder Wincrest Homes has resumed construction of almost 200 homes, after going into voluntary administration on January 2 this year.
Read moreSYDNEY-based home builder Wincrest Homes has resumed construction of almost 200 homes, after going into voluntary administration on January 2 this year.
Read moreIt sat alongside Sydney’s Opera House for a month, and now it can be yours – as long as you pay to relocate it.
Read moreEAST Gippsland Newspapers is a step closer to relocating its editorial headquarters and printing facilities to out of town. Last
Read moreRecord Funds Management Limited, manager of the Record Realty Trust, has entered receivership. Its debts are speculated at $1.8 billion.
Read moreSydney recorded a slight improvement of 0.2 percent in June driven largely by a half a percent improvement in rental vacancies in the inner suburbs.
However in outer Sydney the outlook remains poor with only marginal increases in the number of vacancies in the middle and outer suburbs of the city.
Read moreIN AN environment where government bureaucrats and planners behave like Melbourne has less land for redevelopment than London, it’s no surprise VicRoads is trying to flog off a poorly located site beside the junction of three busy highways.
VicRoads has requested to rezone two parcels of land known as 25 and 55 Burwood Highway, in Wantirna, which it compulsorily acquired to build the Eastlink tollway, but no longer needs.
The affected land is well serviced by transport – abutting the busy intersection of Burwood and Mountain highways, and Eastlink, about 25 kilometres east of the CBD.
Read moreLend Lease Corporation Limited (“Lend Lease”) has today announced the execution of a new contract with BP International Ltd (“BP”). The new contract continues Bovis Lend Lease’s 12 year alliance with BP to provide project management services for the construction and maintenance of BP’s retail network across 10 European countries.
Read moreThe most innovative and professional real estate agents in NSW have been revealed with the announcement of the finalists of the REINSW Awards for Excellence.
The Awards recognise excellence in service, creativity and commitment in categories including residential sales, property management, auctioneering, marketing and community service.
Historic Yarraville home Huntly is for lease. In Willis Street, near the Sun Theatre and train station, the recently renovated
Read moreThe Urban Development Institute of Australia has called for all new home buyers to receive the $14,000 government grant. At
Read moreSydney renters face an even bleaker future with vacancy rates falling yet again according to the latest figures released by the Real Estate Institute of NSW
Read moreTHE RESERVE Bank of Australia said strict lending conditions by Australian Banks, will prevent Australia’s housing market following the same southward direction of major countries overseas.
Read moreAn undisclosed Sydney businessman is believed to have smashed the record price paid for an apartment in Australia.
Read moreSPOTLESS Group has leased an entire St Kilda Road office building, and will relocate its headquarters from the Melbourne CBD.
The cleaning services and management company, currently based at 350 Queen Street, has leased about 9200 square metres at the 549 St Kilda Road building previously known as AIG House.
The rent Spotless will pay has not been disclosed, but industry sources speculate it circles about $250 per square metre, per annum, before incentives (a lure usually offered in the way of a fit-out, or rental discount). This is low compared to the CBD, Southbank and Docklands.
Read morePERTH is the world’s strongest performing hotel market, according to a new global survey from adviser Deloitte.
Read moreColliers International has announced an expansion of the company’s operations in Penrith, Western Sydney with the addition of a specialised commercial agency team and the appointment of a new Director to bolster and expand the existing Consultancy and Valuation business.
Read moreA PRAHRAN eatery leased to restaurateurs Frank Van Haandel, Ingrid Langtry and Sean Kierce, is for sale and expected to fetch between $4.3 and $4.5 millon.
The single-storey Ladro restaurant at 162 – 162A Greville Street is on a 345 square metre block, and leased for five years with three five year options. The restaurateurs, who founded the first Ladro restaurant in Gertrude Street, Fitzroy, pay a current annual rent of $208,000 to occupy the Prahran site.
The restaurant was fully refurbished in 2010 and has a 24-hour liquor licence. Gross Waddell’s Jonathon McCormack and Michael Gross are the marketing agents.
Read moreFORMER ST George Bank executive Michael Cameron has emerged as the possible next chief executive of the beleagured General Property Trust group. The Australian Financial Review reports GPT wants to appoint someone to the position before the groups’ annual general meeting in May.
Read moreDEXUS Property Group today announced it had signed an innovative agreement with Boral to provide stormwater harvesting and ground water facilities to the Cumberland Country Golf Club from its new 47.4 hectare industrial development site in Greystanes NSW.
Read moreAWARD winning Alpine chalet Under The Moonlight has been listed for private sale.
The opulent Dinner Plain home, developed by R&R Van Heek Builders, won the 2009 Housing Industry Association’s Colorbond Most Innovative Use of Steel award. Judges said Under The Moonlight “commands attention and yet does not over-impose on the area’s natural landscape.”
Under the Moonlight is part of the highest approved freehold land in Australia, and ten minutes from Mount Hotham. Dinner Plain is about a five hour drive, or almost 400 kilometres from Melbourne.
Read morePassenger numbers at Australia’s major airports increased for the 2008 financial year, an Australian Competition and Consumer Commission report said.
Read moreThe HIA-CBA First Home Buyer Affordability Index improved by 4.1 per cent in Sydney during the March quarter.
Read moreLITTLE Milton, the luxurious home of late businessman and Corona Group executive John Batkin quietly hit the market this week.
The circa 1926, five-bedroom mansion (pictured, right) is at the north-east corner of Whernside Avenue, and Albany Road – which most advocates and agents agree is Toorak’s most expensive street.
Recently, a new tennis court was developed atop a 12-car underground garage, Little Milton’s overall block size is 2476 square metres.
Read moreDESPITE the gloomy economic backdrop, Australians spent more than $14 billion within the country’s top 20 centres last year, considered a strong result.
Read moreJoint venture partners Australian Unity and Australand have lodged a DA with the Wingecarribee Shire Council in the Southern Highlands for a new retirement living community on the 17 hectare site of the former Our Lady of the Sacred Heart centre on Centennial Road, in Bowral.
Read moreDIEHARD underbelly fans can live a piece of the underworld lifestyle, with Tony Mokbel’s former family home, in Brunswick, quietly hitting the rental market.
The five bedroom mansion at 9 – 11 Downs Street (pictured, right) was offered for sale early last year, but the listing, nor sale – which settled earlier this year – could be reported because of a recently lifted suppression order.
The new owners are asking $1300 per week for the double-storey home which police believe Mokbel funded through drug activities. The registered owner while he occupied the home was Mokbel’s sister-in-law, Renate.
Ownership of the Brunswick property was transferred to the Attorney General of Victoria in late 2009, under the Confiscation Act 1997.
City Pacific Limited (City Pacific or the Company) today announced a net loss of $74.3 million for the half year ended 31 December 2008.
Read moreData showing that population growth in the Richmond-Tweed region has been faster than any other part of NSW in the past two years is evidence that Australians are prepared to move in search of a better lifestyle according to the Real Estate Institute of New South Wales (REINSW). It also accords with the latest property prices released by the Institute, which show house prices in the area grew 11% in the last quarter – among the highest of any regional location.
Read moreThe Wimbledon Heights home where John Leslie Coombes killed Nicole Godfrey in 2009 is for sale. The asking price –
Read moreTHREE agricultural properties have sold recently, including New South Wale’s Gundy farm and homestead, which sold to local farmers for $5 million.
Read moreWoollam Constructions has been appointed to undertake the $11 million redevelopment of Southern Cross Care’s Aged Care Facility at Tweed Heads South in northern New South Wales.
Read moreBABY Buntings will pay a reported rent of $75 per square metre, per annum, to occupy a large 11,750 square
Read moreTHE RECEIVERS of failed child care operator ABC Learning Centres have been given another month to settle a $US100 million dispute with US developer RCS Capital Developments.
Read moreStockland has successfully finalised the $450 million swap of its mixed use Northpoint building in North Sydney, for a Castlereagh Street office building in the Sydney CBD.
Read moreAS PLANNERS continue to approve major new housing estates in Melbourne’s (until-recently-forgotten) western suburbs, a powerful state motoring body has called on the new state government to build a new major road thoroughfare, for what will be an imminent surge in car traffic.
The RACV forecasts 20,000 extra car trips will be travelled based on residential development at one new western suburb proposal alone, recently announced by Lend Lease (refer link below).
Read moreAUCTION clearance rates fell in both Sydney and Melbourne this weekend, according to new research from Australian Property Monitors.
Read moreThe City of Sydney is planning now to ensure we achieve the Sydney we want by 2030.
Read moreTHREE months after telling Domain he had no intention of doing so, Richard Sheldermine – a member of the Myer dynasty – is selling another subdivided piece of the historic Sorrento property known as The Sisters.
This time, it’s a 2946 square metre waterfront portion being offered, with price expectations of some $10 million.
Earlier this year, Richard reaped $6.5 million selling a 1915 square metre subdivided slice of the estate at 3080 Point Nepean Road.
Richard paid $18.4 million for the historic 1.2 hectare site in early 2008 (pictured, right), before successfully applying to the Victorian Civil and Administrative Tribunal to slice it five ways.
Read moreAUSTRALIA’s population is expected to hit at least 30 million by 2056, even using the most conservative estimates from the Australian Bureau of Statistics, latest Social Trends reporting has found.
Read moreSt Hilliers Property is readying a new industrial warehouse facility in Smeaton Grange, south western Sydney as a seed asset for St Hilliers Funds Management Limited’s fourth property fund.
Read moreSOME of Melbourne’s most popular hospitality venues – and a major western suburb development site – form part of an $80 million portfolio of properties set to hit the market next month.
A consortium of Melbourne-based private investors, including Sebastian Catalfamo and Gilbert Cabral, will share in the spoils of the eight properties which are being offered separately.
In Melbourne, hospitality venues include The Point on Albert Park Lake – a 940-seat venue which is expected to sell for about $3 million.
Read moreHARVEY NORMAN founder Gerry Harvey said he will not revalue the company’s $1.25 billion Australian property portfolio, despite evidence values in the commercial property sector have fallen.
Read moreRouse Hill Town Centre combines the traditional values and streetscape of a contemporary market town with the latest in shopping, dining and lifestyle choices.
Read moreCOMPOSER, pianist and one-time television personality Paul Grabowsky, is moving out of St Kilda East, in Melbourne.
Grabowsky, who is renowned for his passion of jazz music, can expect some $1.5 million from the sale of his renovated four bedroom Californian Bungalow which will be auctioned next month.
The Papua New Guinea born musician grew up in suburban Melbourne’s Glen Waverley and first studied music at age five. His passion for jazz started at 16, while at Wesley College which was one of the few Melbourne colleges at the time to boast a jazz ensemble.
After travelling and performing for several years, Grabowski returned to Melbourne in 1986, later landing a high profile job as band front-man for Network Seven’s popular Tonight Live With Steve Vizard show, which ran from 1990 to 1993.
Read moreMacquarie CountryWide Trust (ASX:MCW) today announced it has entered into unconditional contracts with various parties for the sale of five assets (four in Australia and one in the US) for A$92.6 million [1], reflecting an average initial yield of 7.7%. The sale proceeds will be used to reduce debt and position the Trust to meet its refinancing obligations in the second half of 2009.
Read moreFKP Property Group’s Funds Management division today announced it had purchased historic Chard House at 171 William Street East Sydney for $7.15 million.
Read moreBALMAIN Trilogy has reported a huge loss on the sale of a beachfront development site at Northcliffe Terrace, Surfers Paradise.
Balmain sold the site to a Sydney investor this month for about $6 million, far less than the $14.5 million it paid at a more buoyant time in Queensland’s real estate market.
The seven-storey 1980s complex, with 20 strata flats is on a 1151 square metre block, and sold with a permit for an 18-level tower with 14 dwellings.
Read moreCB Richard Ellis’s former Auckland Managing Director Warren Hutt has relocated to Sydney to head the company’s Asset Services division in the Pacific Region.
Read moreGPT today announced that the Group had successfully fully leased all the office space at the Group’s workplace6 development, NSW’s first 6 star Green Star building, well ahead of initial expectations. Internet company Google, and global management consulting company, Accenture have agreed to lease the office space at workplace6, an 18,000 sqm waterfront office complex developed by the GPT Group in conjunction with Citta Property Group.
Read moreTHE largest lodging real estate investment trust in the United States may be moving into the Melbourne hotel market.
According to the AFR, Host Hotels & Resorts is eyeing the $150 million Hilton Melbourne South Wharf complex, at the riverside junction that divides the CBD from Southbank and Docklands. The hotel was listed for sale by private developer Plenary which is expected to maintain some stake in the hotel.
A Host spokesperson confirmed it was “exploring acquisition and development opportunities” in the Asia Pacific.
TELSTRA has renewed its office leases at three major office buildings on Australia’s east coast.
Read moreThe GPT Group is pleased to announce workplace6, an 18,000 sqm waterfront office complex in Pyrmont, Sydney, currently being developed by the Group in conjunction with the Citta Property Group, has been awarded the first 6 Star Green Star – Office Design v2 Certified Rating by the Green Building Council of Australia.
Read moreMILLIONAIRE entrepreneur Llloyd Williams has quietly listed for sale a horse stable complex opposite the Melbourne Showgrounds, and near the western boundary of the Flemington Racecourse.
In a residential street, the Ascot Vale property is configured as a double-storey home at the front, with equine facilities, at the rear. The commercial component includes 17 stables and an office. The property has rear lane access.
Measuring 1049 square metres, the block is large by inner-city standards, and is being marketed as a residential development site. Apartments within any new project would capture unobstructed city views over the racecourse. Nelson Alexander Ascot Vale’s Andrew Johnston will auction 14 Leonard Crescent at midday, May 14, when it’s expected to sell for between $1.2 and $1.3 million.
Read moreSTOCKLAND DECEMBER 2008 HALF YEAR RESULTS
Read moreInvestors looking for a sound alternative to the stockmarket would be wise to consider residential property according to the Real Estate Institute of New South Wales (REINSW).
Read moreSUBURBS in Victoria accommodate Australia’s wealthiest and poorest average workers.
According new Australian Taxation Office research, Portsea (pictured, right), about 90 minutes south of Melbourne, is home to the country’s highest earners in 2008-2009, up from third position a year earlier (those 2007-08 figures were released last year).
The average income for Portsea residents was $198,987 per annum.
Read moreA GROWING number of distressed property assets are the focus of Colliers International in 2009 who have stepped in to manage portfolio’s savaged by the global financial crisis.
Read moreSydney’s ranking as the 11th least affordable city in a survey of international housing is due its popularity and the resulting high demand for property, but buyers should not be put off as housing realises excellent capital growth according to the Real Estate Institute of New South Wales (REINSW).
Read moreCOMMONWEALTH Bank of Australia has leased 8500 square metres of refurbished office space within the Collins Street building that once acted as Melbourne’s stock exchange.
The lease, for levels 6 to 10, are for an initial 10-year period. CBA is paying rent of $385 per square metre, per annum, presumably prior to incentives (discounts offered off this “face” rent, common in most CBD leases nowadays).
Australand purchased the vacant building from Asian investors last year, which failed to relaunch the building as an apartment project. Sources say that residential conversion would never have worked given the building only has a handful of car spaces.
Read moreThe Reserve Bank of Australia has reduced the country’s cash rate by 100 basis points to 3.25 per cent at its February meeting. This sees the cash rate hit a 45 year low. The next RBA meeting is scheduled for March 3.
Read moreThe Real Estate Institute of New South Wales has called on the State Government to further reduce land taxes on residential properties as a means of bringing sorely needed property investors back into the market.
Read moreLEND Lease has launched a new $1 billion mixed use village at Werribee, in Melbourne’s middle-western suburbs.
The 438 hectare site will make way for 4000 homes, four schools and a new neighbourhood shopping centre. The first blocks will hit the market in mid 2012, and the project is expected to take ten years to complete.
The price Lend Lease paid for the land has not yet been reported. Below is an announcement by the Sydney-based developer and fund manager.
Read moreStockland today announced the sale of three commercial office buildings for a total of $95.1 million. The sale includes: •
Read moreNew housing data released by the Australian Bureau of Statistics shows that the Sydney market is gathering pace, fuelled by a demand for apartments significantly outstripping that for single dwellings. In November, approvals were granted for the building of 1805 apartments in Sydney, more than tripling the October figure.
Read moreBAYSIDE developer Gillon Group has quietly acquired a supersite at one of the south-eastern suburb’s busiest corners.
Gillon has negotiated with residential home owners, commercial property owners, VicRoads and the council to amalgamate some seven Brighton East lots into a 7500 square metre development site. At the north-west corner of Nepean Highway and South Road, the site incorporates Barr Street, and former public land.
It plans to rebuild the site – opposite the Kingston City Hall and Moorabbin train station – into a $100 million-plus mixed-use village with around 200 apartments in what could be a seven level tower.
Gillon has not disclosed the price it paid to buy and amalgamate the sites. Local agent sources however value the land at about $2000 per square metre, meaning Gillon’s block could fetch about $15 million if onsold.
Read moreIn the latest release from the ABS for the September quarter 2008, the overall trend is a widespread fall in occupancy in Australia’s hotel markets.
Read moreBecton Property Group (“Becton”) today announced that its Becton Industrial Fund (or “Fund”) has acquired two industrial properties in Sydney for a total of $38.45 million.
Read moreACTORS Reg Gorman and Judith Roberts are selling a renovated apartment in St Kilda East’s historic Ardoch development.
Built in 1922, Ardoch is reportedly one place Dame Nellie Melba stayed when in town, and where Russian spy Mrs Petrov was hidden.
At 8 Ardoch Avenue (pictured,right), the two bedroom apartment will be auctioned at 11:30am this Saturday and is expected to sell for about $700,000. Marshall White Armadale’s John Manton is the marketing agent.
Read moreMortgage Choice hopes to restore some consumer confidence in the New Year with top tips to help Australians take charge of, and better manage, their mortgage in 2009.
Read moreThe Real Estate Institute of New South Wales (REINSW) is supporting agents who manage holiday and short term residential properties in the State by setting up a Holiday Rental Chapter which will develop best practice guidelines for holiday rental operators.
Read moreMUSICAL director, pianist, composer – and inadvertent television personality – John Foreman is selling a waterfront St Kilda West penthouse.
The three-bedroom apartment, with basement underground parking for two cars, will be auctioned at 12:30pm next Saturday where it’s expected to fetch between $930,000 and $1.02 million.
With a study nook and three balconies, the penthouse at 358 Beaconsfield Parade captures water views from the open plan living/dining room, and one of the bedrooms.
Read moreStockland today announced the conditional sale of four retail development sites to a private development group for a total consideration of $44 million.
Read moreThe Property Council of Australia has criticised advertisements by the Local Government Association of NSW and Shires Association of NSW calling on the NSW Government to delay reforms which would stop councils hoarding taxpayers’ money as a misguided attempt to preserve an unsustainable and unfair funding system.
Read moreSPOTTING Footscray from the CBD, Geelong, Melbourne Airport, or any building in metropolitan Melbourne with a westerly outlook may be a lot easier from next year.
New planning minister Matthew Guy is reviewing an application for a 24-level, 222-unit complex which, if approved, would be the most ambitious skyscraper ever built in Melbourne’s western suburbs.
The $90 million proposal, which will also include ground floor shops and a five-level underground car park will replace a double-storey factory bound by Moreland and Warde streets, and Neilson Place. The site is west of the Le Mans Toyota dealership which recently sold for $21 million to the state government’s development arm, VicUrban.
Read moreThe Board of Macquarie DDR Management Limited, Manager of the Macquarie DDR Trust (ASX:MDT) today announced it will initiate a strategic review of MDT with the specific objective of seeking to maximise unitholder value, which may include realising assets and returning capital to unitholders.
Read moreSydney’s top end was on fire this weekend, with around $27 million of real estate on the prestigious north shore
Read moreHISTORIC Balwyn estate Canonbury has hit the market again.
Built in the 1860s for leading land and commission broker Edward Lamont, Canonbury at 9 Barnsbury Road has since been owned by businessman John Elliott and former AFL commissioner, the late Ron Evans.
The five bedroom, five bathroom renovated Victorian mansion sits amid a Baron von Mueller designed garden, with a 141-year old Spanish cork oak tree.
The Reserve Bank of Australia (RBA) today announced the Official Cash Rate will drop 100 basis points.
Read moreTelevision services provider Global Television has agreed to lease about 10,00 square metres of space at the $123 million Television Production Complex, being developed on the Australian Technology Park in Sydney’s southern suburb of Redfern.
Read moreYET another house of worship is deferring to the medium density redevelopment trend.
This time, in West Footscray, a former Uniting Church on the corner of Ormond and Glamis roads will be pulled down and replaced with 12 double-storey townhouses, in a development called Trugo.
Two bedroom townhouses start from $499,000. Prices rise for three bedroom units, available from $570,000, and the biggest four bedroom homes, which start at $670,000.
JG King Projects is redeveloping the church. Building manager Ryan L’Huillier says Trugo will set a new benchmark for townhouse living in Melbourne’s west.
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