Atari Relocates to St Kilda Road
KROME STUDIOS – the new name for the electronic games giant once known as Atari – has swapped its long
Read moreStockland Sells South Australian Shopping Centre For $87.5 Million
Stockland today announced the $87.5 million sale of its Stockland Parabanks shopping centre, as it looks at re-investment opportunities in key strategic growth areas.
Read moreAltona Suburb Profile
Altona is a bayside suburb about the same distance to the Melbourne CBD as Brighton – as the crow flies.
Read moreFormer Cremorne Gardens Amusement Park in Richmond set to Become Apartments
Visitors to the launch of the Era apartment project in Richmond’s southern tip of Cremorne this week, were treated to a history lesson by well known historian Dr Mimi Colligan.
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Greencor spends $26m in Wollert
Local developer Greencor is paying $26 million for a 57 hectare farm on Bodycoats Road in Wollert. Marketed as ”the
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Canterbury Marrickville Olympic Soccer Club Sells North Parramatta Office
AN OWNER occupier has paid the Canterbury Marrickville Olympic Soccer Club an as yet undisclosed amount for a North Parramatta
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Government Closes EOI For Prominent Gold Coast Site, Again
AFTER shelving plans to redevelop the prominent site three years ago, the Queensland government is offering a Gold Coast property to the public again.
The property is known as the Gold Coast Marine Development site, and is between tourist meccas Seaworld, and the Palazzo Versace Hotel.
It has been earmarked to become a tourist attraction, however attempts to tender the site was met with lukewarm reaction in 2007, and formally shelved in June 2010.
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Google Shelves Controversial Real Estate Listing Initiative
GOOGLE has shelved plans to feature real estate listings within its Google Maps.
The company cited low usage for the feature, which is available in the US, Australia, New Zealand, the UK and Japan.
The feature was launched in 2009, but despite offering free listings, failed to knock off the dominant Australian real estate search engines, realestate.com.au and domain.com.au.
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Northbridge Link to Connect Perth and Northbridge For the First Time in 100 Years
THE final plan for Perth’s Northbridge Link has been announced for a 13.5 hectare site, around Horseshoe Bend.
The $500 million plan will see Perth’s central train and bus station sunk, and a new town square developed on land above. The development will include public gardens, retail, business and residential areas, and will connect Perth and Northbridge for the first time in 100 years.
WA Premier Colin Barnett said work will begin next year, and take four years to complete.
About $250 million of funding will come from the City of Perth council, Federal and State governments.
Read moreWindsor Train Station Refurbishment May Add More Shops to Chapel Street
PLANS to build a large concrete ceiling above the Windsor train station underpass, which would act as a floor to
Read moreDevine Buys 30 Hectares of Land in Meadows, South Australia
Diversified property group Devine Limited (ASX: DVN) has today announced the strategic acquisition of a prime 30 hectare land parcel in Meadows, 40 minutes
drive south of the Adelaide CBD.
Ardeer Suburb Profile
Ardeer is one of Melbourne’s smallest suburbs by geographical area, occupying only a few square kilometres about 20 kilometres west of the CBD.
Read moreNew Record for South Yarra Home?
An as yet undisclosed purchaser is believed to have broken the record for a house price in South Yarra.
Read moreMelbourne Water to Sell Dandenong South Land
MELBOURNE Water can expect about $6.5 million from the sale of a development site on the corner of Colemans and
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Labor Government Being Investigated by Corruption Commission Over $12.2 Million Pittwater Sale, Sydney
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.
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$950 Million Hummock Hill Island Project One Step Closer
SYDNEY based private developers the Hatsatouris family has been granted approval to build a $950 million tourism and residential hub off Queensland’s central coast.
The Hummock Hill island project will be developed by Eaton Place Pty Ltd, and will include a resort, hotels, units, camping grounds, an 18-hole golf course, private air strip and residential housing.
Council was warned the proposal, which is set for an environmentally sensitive area, could damage local marine life, according to the AFR which reported the development approval.
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Canada Now Largest Private Owner of Forestry Land in Australia
THE largest private owner of forestry land in Australia is now a Canadian pension fund.
Alberta Investment Management Corp (AIMCo) has paid $415 million for 252,000 hectares of timber land. The land was offloaded by collapsed managed investment scheme operator, Great Southern.
The price paid is 60 per cent of the land’s value three years ago, and before legislative changes triggered the collapse of two large industry players, including Timbercorp as well as Great Southern.
AIMCo chief executive Leo de Bever told the AFR the group had been working to buy the site for more than a year.
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Peet, Myer, MTAA Super Kick Off Biggest Perth Coastal Development in 50 Years
PERTH’s largest coastal development for more than 50 years has been launched in the Alkimos Eglinton area.
Peet Ltd has unveiled its $1.3 billion Alkimos development, about 40 kilometres north of the CBD. The land mooted for the development abuts another major block which the West Australian government is seeking to develop with a partner.
Combined, about 953 hectares of Perth’s famous coastline will be affected. LandCorp, Delfin Lend Lease, Mirvac and a consortium including Perth based developer Satterley Property Group, are reportedly shortlisted on the government tender to build more housing.
Read moreChallenger to sell Jam Factory
Eleven months since announcing a $700 million revamp of South Yarra’s iconic Jam Factory, the James Packer backed Challenger group
Read moreAdelaide’s rental market tightens
The rental market has tightened in Adelaide with the residential vacancy rate dropping below 1% in the month of December, according to the Real Estate Institute of SA (REISA).
Read moreArmadale Suburb Profile
Armadale is one of Melbourne’s most understated and elegant suburbs.
Read moreJohn Brumby Cashes in on Stamp Duty From Sale of Former Home
Victorian State Treasurer John Brumby can expect to collect more than $52,000 in stamp duty from the sale of a Footscray home he used to live in.
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United Petroleum Buys Victorian Freeholds and Leaseholds
A PORTFOLIO of four Freedom petrol stations in Gippsland has sold for $7.6 million to United Petroleum, which will be an owner-occupier.
The most expensive asset, a 1812-square-metre station overlooking Western Port in San Remo, South Gippsland, sold for $3.59 million (image of pelicans at San Remo, right).
The other stations are in Churchill, Traralgon and Newborough.
In conjunction with these property sales, a 14-site retail network of Freedom Fuel stores also sold to United Petroleum for an undisclosed price.
Despite Bleak Backdrop, Corporates Pay Top Dollar For Sydney Offices in 2011
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.
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Valad to Sell Sheraton Noosa Resort and Spa Complex
VALAD Property Group is expected to take a hit from the sale of its Sheraton Noosa Resort and Spa facility (right) at Noosa Heads.
Valad paid $93.6 million for the asset in 2007, but its value has fallen to about $85 million.
The unrenovated complex opened in 1989 and is on a 9946 square metre site with a private mooring facility on the Noosa River.
It includes 176 rooms, suites and villas, seven shops and five food and beverage outlets.
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Surge For Australian Hotel Investments in 2010
INVESTOR demand for Australian hotels surged last year.
Hotel transactions surged 62.3 per cent last year, totalling $1.3 billion, according to JLL Hotels.
Demand for hotel investments was boosted by a strong business travel market which have pushed up room rates and occupancy levels in major capital city markets.
The Ayers Rock Resort was last year’s biggest hotel transaction, selling for $300 million.
Read moreFootball Federation Victoria Leaves Thornbury for St Kilda Road
VICTORIA’s state governing body for soccer will relocate from a modest office in the middle of a northern suburb sports complex, to a relatively flash new headquarters in tree-lined St Kilda Road.
Football Federation Victoria has leased 845 square metres at Flight Centre’s 436 St Kilda Road office building, about five months ahead of the opening of the distinctive Rectangular Stadium, under construction on Olympic Boulevard, the new name for the part of Swan Street, west of Punt.
St Kilda Triangle Development Cleared for Redevelopment
ST KILDA’s controversial $300 million “Triangle” site redevelopment has been given the go ahead, after the Victorian Civil and Administrative
Read moreAdelaide house prices soar to new heights
The median price of an Adelaide house surged 7.7 per cent in a quarter to reach $350,000 in December. Real
Read moreAscot Vale Suburb Profile
Ascot Vale is in inner-city suburb about 6 kilometres north-west of the Melbourne CBD.
Read moreMelbourne’s southern suburbs star
THE performance of Melbourne’s southern suburb’s reflects the truism that the rich are getting richer.
Nine of the ten best performing suburbs had annual median house growth of more than 10 per cent, with the best performer, Toorak, increasing by an astounding 33.6 per cent. If you’re aspiring to get into the suburb, you’d better have found an extra $560,000 since last year – with the median house price now $2,230,500, almost double that of Melbourne’s second most expensive suburb, Brighton.
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Riverside Chunk of Industrial Land Rezoned For Redevelopment, Kensington, Melbourne
ANOTHER chunk of former industrial land in Kensington is on track to being replaced with apartments.
At 1-89 Hobsons Road, abutting the Maribyrnong River, and between the train line and Lynch’s Bridge, five hectares of land belonging to six separate owners has been rezoned to allow for mixed-use redevelopment.
The land is diagonally opposite a 15-hectare Footscray parcel across the Maribyrnong River known as the Joseph Road precinct, which has recently been earmarked for intense apartment development.
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Stockland Acquires Control of 339 Hectare East Leppington Site, Sydney
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:
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Cairns Central SC Expected to Fetch $450 Million
TWO of Australia’s biggest property players, Westfield Group and Lend Lease (which controls the Australian Prime Property Fund), are planning to sell the Cairns Central shopping centre they own together.
The complex was at the centre of a legal dispute that Westfield and Lend Lease eventually took to court.
It includes about 180 stores including major tenants Myer, Target, Coles, Bi-Lo (which like Coles is part of the Wesfarmers Group) and a Birch, Carroll and Coyle cinema.
Sydney and Perth Residential Sectors Set to Lead the Nation: Report
THE Sydney and Perth residential sectors may have been the basket case of the country in recent years, but all that is expected to change, according to new research by MacroPlan.
The consultancy expects Sydney and Perth will lead the nation in regard to demand this year, led by increasing incomes, improving business prosperity and a shortage of new residential supply.
MacroPlan also anticipates some regional centres will perform well on the back of the resources boom, population growth and value.
Read morePerth David Jones, Hay Street Mall, Sells For $115 Million
PERTH’s David Jones store in the CBD has sold to the Singapore listed Starhill Global REIT for almost $115 million.
The asset was put to the market by MCS28, a syndicate managed by Centro Properties Group.
The 4-level property on Hay Street Mall was valued at $114.5 million in June (down 13 per cent since last year). It sold on a yield of 7.75 per cent.
Read moreRubber Stamp Approval For Black Saturday Bushfire Victims
SURVIVORS of Victoria’s Black Saturday bushfires will be able to rebuild their homes, without a permit, under a “radical planning
Read morePrices in Rural SA record strong growth
Regional South Australia is proving a lucrative investment with house prices soaring in many areas over the December quarter, according to the Real Estate Institute of SA (REISA).
REISA President Robin Turner said the median house price for SA had broken through the $300,000 mark for the first time in December and prices in regional areas had played a big part.
Ashburton Suburb Profile
Ashburton is a leafy suburb about 14.5 kilometres south east of Melbourne.
Read moreRobin Boyd Home Environmentally Sustainable, Before the Term was Even Coined
A home described by Melbourne University’s Professor of Architecture Philip Goad as one of the most important post war residential buildings in the country, can now be yours, for a short stay anyway.
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Prominent Melbourne CBD Corner Sells For $10.75 Million
A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.
The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.
On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.
Lend Lease Wins $122.5 Million UNSW Contract
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.
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Valad May Make Loss From Sale of Sheraton Noosa Resort and Spa
VALAD Property Group is expected to take a hit from the sale of its Sheraton Noosa Resort and Spa facility at Noosa Heads.
Valad paid $93.6 million for the asset in 2007, but its value has fallen to about $85 million.
The unrenovated complex opened in 1989 and is on a 9946 square metre site with a private mooring facility on the Noosa River.
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Office Sector Set to Strengthen in 2011: Report
LAST year, by and large, residential landlords were the investors best able to reap the rewards of a short supply, by boosting their rents.
This year however, may be year of the office landlord.
According to a new report by commercial real estate agency Colliers International, office rental costs are expected to increase in most capital cities, because of a shortage of new supply and an improving economy.
It expects office vacancies to fall in all major CBD office markets expect Brisbane (which already has a high 9.6 per cent vacancy).
Read moreLocal Private Developers Pay $44 Million For Perth’s Holiday Inn City Centre
LOCAL private investors and developers George Atzemis and Constantine Berbatis have been revealed as the buyers to pay Eureka Funds Management $44 million for the Perth’s Holiday Inn City Centre.
The 181-room, 4.5 star hotel is expected to be refurbished.
“We believe the performance f the Holiday Inn in 2008 and 2009 makes it the cream of accommodation hotels in Australia,” Mr Aztzemis told the AFR.
Read moreNew Tram Route For Melbourne’s Docklands
A NEW tram line connecting the CBD to Docklands will be open within three months. The tram, an extension of
Read moreCalm before storm as rental vacancies ease
As the rental market prepares for its busiest period of the year, Adelaide’s vacancy rate eased slightly to 1.63% for the month of November, according to the Real Estate Institute of SA (REISA).
Read moreAshwood suburb profile
Seventeen kilometres south east of Melbourene, Ashwood is bound by Ashburton, Burwood, Mount Waverley and East Malvern. Its nearest train
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Out With The Old at Phillip Island
THE owners of a 26-hectare Phillip Island farm, until three years ago owned by AMP Capital Investors and earmarked to become a retirement village, have applied to Bass Coast Shire Council to remove the entire aged-care component of the proposal.
The owner of the site paid AMP a reported $8 million for the Ventnor Road block and a permit for a 184-lot residential subdivision.
A major aged-care complex and community facilities were required to be developed as part of that permit. However, the council will now decide on whether to issue a new permit resulting in the entire farm, about three kilometres south-west of the centre of Cowes, being subdivided into 304 standard residential lots.
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Glenn McGrath to Sell $6 Million Waterfront Cronulla Estate
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.
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Tim Johnston’s Gold Coast Mansion Sells For $3 Million
BOSS of failed group Firepower, Tim Johnston, has sold his Gold Coast home for $3 million.
The riverside home with a private jetty and swimming pool was in the name of his wife, Sandra, according to reports – and may therefore be a bit trickier for stricken shareholders to claim a share to.
Firepower lost investors more than $100 million, according to Perth Now. The settlement occurred last December, when the businessman was to have appeared in court.
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Centro Properties Expected to List $4 Billion Portfolio
CENTRO Properties Group is expected to list for sale a $4 billion portfolio of prime retail assets, as its bankers call for the company to settle its debts.
It’s expected Perth’s Galleria complex, and The Glen, in the south-east Melbourne suburb of Glen Waverley will be two of the 40-plus assets offered for sale.
Lend Lease, Colonial First State Global Management and AMP Capital Investors are expected to be in the mix of prospective purchasers, though the sale might also be on an individual shopping centre basis.
Read moreChallenger Wine Trust to Sell $20 Million in Wineries
THE CHALLENGER Wine Trust is understood to be selling about $20 million of dozens of vineyards around the country.
The trust’s manager Nick Gill told The Australian “We are in the process of reducing our gearing, as all property trusts are.”
“They are of varying sizes, all dotted across different parts of Australia, some in premium areas and some in less premium areas”.
Read moreRate Rises Expected Across Victoria
VICTORIANS should brace for an average increase of about $50 in this year’s upcoming council rates. Several councils including Stonnington,
Read moreAspendale Suburb Profile
Aspendale is a bayside suburb located about 30 kilometres south of the Melbourne CBD.
Read moreHomeowners get Christmas reprieve
Jingle bells are ringing for South Australian homeowners after the Reserve Bank of Australia decided not to raise interest rates at its December meeting, the Real Estate Institute of SA (REISA) said.
Read morePerformance of Melbourne’s Western Suburbs This Spring
THE market leading pace with which some western suburbs started the year, seems to have hit a snag, with the top ten suburbs recording relatively lower levels of growth than the other regions. Only nine of 22 eligible western suburbs recorded median house price increases over the metropolitan average of 4.2 per cent.
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Auction Ending For Ansett Office Dispute
THE falling-out of two of Melbourne’s biggest private developers will be played out publicly at the end of the month when agents auction a landmark city office building – on court orders.
The imminent sale of the former Ansett headquarters at 501 Swanston Street (pictured, right), for a price expected to surpass $50 million, is also fascinating those within the real estate industry for being likely to smash the record price paid for a CBD office at auction.
Interestingly, each of the co-owning vendors of the building, Vince Giuliano, head of PDG Corporation, and Mario Salvo, director of Salvo Property Group, is expected to bid for full control of the asset.
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Michael Clarke Leaves Bondi
AUSTRALIAN Cricket Captain Michael Clarke will this weekend vacate the $6 million Bondi apartment he once shared with former girlfriend
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Queensland Tourism Sector at Rock Bottom
QUEENSLAND’s tourism industry is “right at the bottom of the pits”, with expectations it will take some regions up to three months to fully rebuild.
That said, the government is trying to encourage visitors to the state, which has many businesses that thrive on the tourism dollar.
The sector is reportedly worth some $9.2 billion.
Billionaire businessman Bob Oatley told the AFR he expects it to take three months for some parts of Queensland to rebuild following fatal floods, and then cyclone Yasi.
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DWPF Pays CDPI $231 Million For Industrial Portfolio
DEXUS Wholesale Property Fund has paid Colonial Direct Property Investment Fund $231 million for a portfolio of 13 industrial portfolios on Australia’s east coast.
The purchase includes eight properties in Sydney, three in Melbourne and two in Brisbane. Some are income producing investments, while others are development sites.
After the acquisition, DWPF’s portfolio allocation will be 57 per cent retail, 32 per cent office and 11 per cent industrial – though the plan is to boost the industrial allocation.
Cottesloe Beach Hotel, Western Australia, For Sale
BROOKFIELD Multiplex will sell Perth’s iconic Cottesloe Beach Hotel.
The developer failed to obtain a development permit after several years, and will sell the asset as an investment.
Its plans for a $100 million high rise building on the site seemed doomed in May when the Cottesloe Town Council decided to retain a three-storey height limit in the area.
Brookfield Multiplex paid $17 million for the Marine Parade property in 2003. The asking price this time around his not been disclosed.
Read moreR.Corporation to Develop South Yarra Stables
AFTER a false start, boutique builder R.Corporation has gone back to the drawing board, proposing to redevelop an historic horse
Read moreBacchus Marsh suburb profile
Bacchus Marsh – incorporating Maddingley, Darley, Hopetoun Park, Parwan, Coimadai, Merrimu and Long Forest – is located about 60 kilometres
Read moreDBRREEF Buys Bunnings Warehouse in South Australia
DB RREEF, on behalf of its direct property mandate with AXA Wholesale Australia Property Fund (WAPF), today announced it had entered into the South Australian retail market with the acquisition of a property in Modbury for $18.5 million.
Read moreNew Residential Development Set For Pemulwuy, Sydney
PEMULWUY, in Sydney’s outer west, is set to see a new residential development, soon, after a builder paid $5.86 million
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Gold Coast Residential Values Continues to go Backwards
GOLD Coast nightclub owner Jamie Pickering is reported to have paid $2.5 million for a penthouse in the Circle on Cavill building.
The price is a sharp drop from the $5.95 million another investor paid developer Sunland for the flat, off the plan.
The result vindicates researchers who report some Gold Coast values have collapsed by more than 50 per cent since the economic downturn took hold in 2008. Some agencies report clearance rates as low as 10 per cent.
That said, a four bedroom waterfront home at Paradise Waters sold for $4.8 million. However that price was far less than the $5.8 million another investor paid for it, in 2005.
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Lend Lease, Sekisui, forge agreement
SYDNEY based developer and fund manager Lend Lease has announced an agreement to develop a swag of national, master planned residential and community projects with Japan based Sekisui House.
The arrangement, which is subject to conditions, will see Sekisui acquire a 50 per cent interest in Lend Lease’s controversial 15-level Serrata apartment tower proposal, in Docklands.
Sekisui House will also buy land at Lend Lease’s Hyatt Coolum on the Sunshine Coast, Queensland, and a piece of a project at Wentworth Point, near Homebush, in western Sydney.
A copy of Lend Lease’s ASX announcement is below:
Brunswick’s Unique Perforated House Sells For $730,000
THE Brunswick terrace that was a finalist for the 2009 Australian Institute of Architects Victorian Awards sold last week for $730,000.
Perforated House, in Wilson Street, was developed by Kavellaris Urban Design last year on a vacant block at the end of a row of 15 adjoining terraces, in the inner-northern suburb.
Geddes Antiques Shops, Armadale, Being Redeveloped Into Offices
ARMADALE’s ritzy High Street – once considered the best place in Melbourne to shop for Persian rugs and antiques –
Read moreBalwyn & Balwyn North Suburb Profile
The leafy suburb of Balwyn, and the neighbouring suburb of Balwyn North, are located about 16 kilometres east of the Melbourne CBD.
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Rental market starts to heat up
The rental market in Adelaide has tightened again with the vacancy rate dropping to 1.06% for the month of October, according to the Real Estate Institute of SA (REISA).
This is down from 1.49% during the month of September and reflects what agents have been seeing in the marketplace.
Read moreTop Performing Suburbs Since the 2001 Real Estate Peak
For years there’s been a growing divide between suburbs that have increased in value, and others which fell back. Five years after the real estate market’s ‘peak’, we ask which suburbs really were ‘safe as houses’ for investors.
Read moreGSK sells portion of Boronia HQ
GlaxoSmithKline has sold a 7.32 hectare tract behind its long-time Boronia headquarters, in Melbourne’s east. For the deal to conclude,
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Woolworths, ALH, Move to Gain Control of Even more Poker Machines with Laundy Group JV
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.
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Rents to Rise, Values to Fall as a Consequence of Queensland Floods
RENTS in some parts of Brisbane are expected to soar as residents scramble for limited accommodation in the wake of the recent devastating floods.
Power outages, flood damage and blocked access is driving large-scale relocation, particularly around Brisbane’s west.
Student accommodation provider Urbanest relocated 1210 tenants from a 713-room complex in South Bank, to the Gold Coast, because power was cut from its facility. Urbanest CEO told the AFR he anticipates an influx of international students in about six weeks, and a shortage of housing supply.
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Is Government Scouring Australia For Public Housing Sites?
A MAJOR but confidential Expression of Interest campaign seeking residential rental properties – believed to be for the government’s affiliated affordable and social housing agencies – has closed after almost six months.
The advertisement sought 400 unoccupied dwellings nationally, configured as motel rooms, blocks of flats, disused retirement villages, and clusters of units and houses.
The mystery tenant is offering 12 month leases with renewal options of up to five years on a case by case basis.
Read moreUrbex Buys Out Babcock & Brown For $250 Million Ascot Vale Housing Project
BRISBANE-based developer Urbex has taken full control of a $250 million townhouse development in Ascot Vale, until recently a joint venture with Babcock & Brown Residential Land Partners.
The 17-hectare Ascot Chase project will be developed on a former Orica research centre bound by Doncaster, Stanford, Newsom and Walter streets, about seven kilometres north-west of the city.
Administrators For Allco’s Record Realty Should Reap $95M From Melbourne Offices
ADMINISTRATORS for failed property group Record Realty should make about $95 million from the sale of two Melbourne office buildings,
Read moreBayswater and Bayswater North Suburb Profile
The suburb of Bayswater and neighbouring suburb of Bayswater North are located about 35 kilometres east of the Melbourne CBD.
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