Commercial and residential property news
THE ritzy south-eastern suburb of Armadale is about to lose one of its biggest office tenants, if speculation engineering, science and project delivery giant Sinclair Knight Merz has found a new city headquarters are true.
Well placed industry sources say the Orrong Road based consultancy is formalising plans to lease about 12,000 square metres of CBD office space, with Stockland’s 452 Flinders Street building understood to be the frontrunner.
COLONIAL First State will reap $59 million from the sale of its 215 Spring Street office building, once the headquarters of professional services giant PricewaterhouseCoopers.
Private investor and developer the Knowles Group has purchased the 22-year old, 9-level building which has three street frontages and is opposite a Parliament train station entrance, and the Parliament Gardens.
CFS, via a previous Commonwealth Bank association, paid $42 million for the 15,549 square metre office in March 2000.
MONTHS after listing its 350 Collins Street office for sale in Melbourne, Orchard Funds Management has put a Sydney CBD building on the market, in a deal which could be worth $130 million.
Orchard is selling its 31-level 233 Castlereagh Street building in Sydney, three years after buying it for $120 million with joint venture partners Leighton Properties and Lend Lease Real Estate. The office building is now 95 per cent occupied, returning about $9 million per annum. This compares to 40 per cent when the consortium bought the building in 2006.
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GERMAN fund manager Deka Immobilien Investment has paid $167 million for Melbourne’s 15 William Street office building, some $33 million less than the speculated sale price last month.
Deka is buying the 20-level, A-grade office building on a yield of 8.75 per cent.
Read moreAn environmentally sustainable village, with manmade lakes, a new school and parks, has been revived for a 186 hectare piece of Ocean Grove, about a 100 kilometres drive southwest of Melbourne.
Mariner Financial Limited will ask investors at an Extraordinary General Meeting on November 7 to vote ‘yes’ and install Real Estate Capital Partners (ReCap) as the responsible entity for three of its funds.
Read moreThe bluestone Ormond Hall in St Kilda Road, home to Victoria’s first Belgian Beer Cafe, will become a boutique hotel, under plans by Stockland, the site’s new owner.
Read moreFour years after it began negotiating to buy the site, developer Stockland is about to start construction of its $560 million Tooronga Village redevelopment at the corner of Toorak and Tooronga roads, Glen Iris.
Read moreIt’s been a good week for AMP Capital Investors, which is set to pocket almost $45 million from the disposal of two Melbourne office buildings for it clients.
Read moreRecently privatised developer Central Equity has made more than $24 million from the disposal of a “non-core” residential development site, in the outer south eastern township of Pakenham.
Read moreDEXUS Property Group today announced it has expanded its Executive Committee and reorganised its management structure with three new appointments representing its three property sectors:
Read moreQueensland-based fund manager Sunsuper will make a nifty profit from the sale of a St Kilda Road office building it bought at a trough in the market ten years ago.
Read moreThe latest interest rate rise, the fourth in the last six months and eleventh straight since 2002, will add about $100 a month to my mortgage repayments.
Read moreFormer Mirvac managing director Robert Hamilton should be patting himself on the back.
In January 2004, the businessman who co-founded the Mirvac development empire 35 years ago, dared criticise what was becoming a growing trend by listed property trusts in Australia – to target property assets internationally, particularly in the United States where high property yields made them attractive, relative to local property asset offerings.
Read moreA consortium led by Macquarie Bank has paid a record $3300 per square metre of land, to snap up a development site opposite Albert Park Lake and the Melbourne Grand Prix circuit.
Read moreAny chance of the North Melbourne football club’s Arden Street training ground being turned into townhouses and apartments has faded – for the moment anyhow.
Read moreLadies and gentlemen.
Welcome to the fourth Annual General Meeting of the Green Building Council of Australia.
My name is Tony Arnel, and I am Chair of the Green Building Council of Australia and Chair of this meeting.
Read moreFifty years ago, developers wanted to replace the grand old Astor Theatre with its traditional stalls and dress circle, with a bowling alley or library. Now developers are eyeing the cinema block as a site for high-rise apartments.
Read moreFord Motor Company Australia’s engine plant could fetch around $20 million as a retail development site.
Read moreProving that private investors haven’t been muscled out of the commercial property market by listed property developers, just yet, Toll Holdings managing director Paul Little is believed to have paid $33 million for a B-grade office building in a bustling pocket of South Yarra.
Read moreVISION Australia has announced the sale of its Prahan offices, three months after putting its heritage-listed Royal Victorian Institute for the Blind property on the market.
Read moreThe western suburb of Maidstone may soon have enough professional footballers to make a team, with Private Property learning four Western Bulldog players have bought into Essence, a new estate being developed by the Stockland group.
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