Commercial and residential property news
‘Renters and buyers are feeling the fallout from consecutive interest rate rises,’ says Noel Dyett, President of the Real Estate Institute of Australia (REIA). ‘The Deposit Power/REIA March quarter 2008 Housing Affordability Report shows a deterioration in both rental and home loan affordability across Australia.’
Read moreStockland today announced changes to its executive management team and organisational structure, as it focuses on delivering growth in its portfolio and further strengthening its capital partnering initiatives.
Read moreSteve Mann, head of Stockland’s Office and Industrial business today announced that he would be leaving Stockland.
Read moreThe Melbourne office of architect firm Woods Bagot have received a double dose of good news, after a $150 million office building it designed for a prominent Abu Dhabi site, will now be built as a twin tower project.
Read moreExecutives at Macquarie Countrywide Trust are licking their wounds after only two of ten supermarkets they put to auction yesterday, sold.
Read moreMacquarie Office Trust (ASX: MOF) today announced an unconditional contract had been entered into for the sale of 505 Little Collins Street, Melbourne for A$83 million at a significant premium to book value. The transaction represents a significant return for the Trust and reinforces Management’s commitment to realising assets and repaying debt with the view to enhancing unitholder value.
Read moreBuilding approvals went nowhere in February as the run of weak updates for the new home building sector continued.
Read moreThe Trust’s proactive asset management approach has delivered strong leasing performance across its global portfolio over the three months to 31 March 2008.
These results have been achieved during challenging capital market conditions and highlight the sound underlying fundamentals of the Trust’s assets.
At its meeting today, the Board decided to leave the cash rate unchanged at 7.25 per cent.
Read moreArchitects at Porter Davis Homes are celebrating after another win in court, this time against smaller rival Carlisle Homes.
Read moreCrown Casino executives say they don’t yet know which river promenade restaurant will have to “f*ck off” to make way for swearing celebrity chef Gordon Ramsay, who plans to open a restaurant in Melbourne later this year.
Read moreCB Richard Ellis has thrown its weight behind this year’s expanded Earth Hour campaign.
More than 150 CBRE-managed buildings Australia and New Zealand will participate in this weekend’s World Wildlife Fund initiative to help combat climate change.
Read moreCentro MCS today expressed disappointment and surprise that Pelorus have purported to cancel a series of meetings of Centro MCS investors with little warning and immediately prior to the first meeting scheduled for Monday. Centro MCS Manager is considering whether this purported cancellation is effective and urges investors to check for any updates in relation to the meeting on its website at centro.com.au.
Read moreName change
�� MFS to transfer and assign to Massachusetts Financial Services of Boston,USA its Australian registered trademark “MFS”
– Resolves ongoing litigation between the parties
– MFS to receive a payment from Massachusetts of a confidential amount
�� World branding agency was used to develop the new name “Octaviar”
– New brand and corporate imagery to be launched following today’s shareholder approval
– ASX Code to change to “OCV”
Dear Investor,
Rescheduling of Meetings for Centro MCS 16, 19NZ/I and 11
Attached are notices with respect to meetings (Meeting) of unit holders of Centro MCS 16, Centro MCS 19 NZ/I and Centro MCS 11 (Syndicates). The notices advise unit holders that the meetings in relation to the Syndicates have been rescheduled to 20 May 2008.
Read moreArchitects at Porter Davis are celebrating another win in court, this time against smaller rival Carlisle Homes.
Read moreBovis Lend Lease LMB, Inc. (“Bovis Lend Lease”), a US subsidiary of Lend Lease Corporation Limited, is a defendant to proceedings brought against the City of New York and a number of other parties who, like Bovis Lend Lease, responded to the World Trade Center emergency and assisted with the rescue, recovery, and
debris removal following the terrorist attacks of 11 September 2001.
DEXUS 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 moreThe number of homes put to the market for sale has surged 79 per cent on the same time last year, according to new research by RP Data.
Read moreDear Investor
I write to you on behalf of MFS Investment Management Limited (‘MFSIM’), as Responsible Entity of the MFS Premium Income Fund (‘the Fund’) to provide an update on the recent events and the MFSIM Board’s strategy and proposals for the management of the Fund subsequent to our last letter.MFSIM understands the significance of these decisions and the impact on investors. Given current market conditions and the position of the Fund, MFSIM, in the interests of all unit holders, has sought to preserve the capital value of the Fund.The MFSIM Board and its advisors are now focused on exploring initiatives to improve liquidity and allow the payment of income to unit holders and expect significant progress to be made before the end of the financial year 2008. Below we set out the key issues facing the Fund at this time. We will continue to update unit holders on developments with the Fund on a regular basis.
Read moreThe National Australia Bank will increase its main home loan interest rate today by 0.09 per cent, to 9.36 per cent – higher than the Commonwealth Bank and Westpac, but slightly lower than the ANZ and Bendigo Banks.
Read moreAquisitive fund manager Charter Hall is reported to have changed its mind regarding the purchase of Channel Nine’s outgoing studios in Willoughby, Sydney and Richmond, Melbourne.
Read moreANZ executives were laughing all the way to the bank this week, after a portfolio of 47 national ANZ Bank outlets sold for a combined total of $81.53 million.
Read moreThe record price paid for a home in Australia has been smashed, after an undisclosed Asian family is believed to have splashed out $32.4 million to buy a Sydney home once owned by disgraced stockbroker Rene Rivkin.
Read moreDear Investor,
CITY PACIFIC FIRST MORTGAGE FUND (FIRST MORTGAGE FUND/FUND)
Amidst recession fears in the USA and difficult local market conditions which have caused havoc in the banking and financial services sectors there has been a substantial increase in the level of redemptions by our investors in the First Mortgage Fund.
Read moreNew York, NY – March 5, 2008 – For the seventh year in a row, CB Richard Ellis has been named the leading global brand in commercial real estate, according to a survey of real estate professionals from around the world. CB Richard Ellis has been named the top brand every year since the survey’s inception in 2002.
Read moreSt Hilliers Funds Management Limited has confirmed the successful winding-up of the St Hilliers Enhanced Property Fund No.1 (the Fund), the first in its series of closed-end unlisted property funds.
Read moreDevine Limited advises that two senior managers of its Construction Division, Devine Constructions, had their employment with the company terminated on Friday 29th February 2008. This action resulted from clear evidence of breaches of the company’s policies in relation to “Ethical Code of Conduct” and “Conflicts of Interest” and evidence that both have undertaken fraudulent activities in respect of the Devine Group.
Read moreNEW IDENTITY UNDERLINES POSITION AS ONE OF AUSTRALASIA’S LEADING DIVERSIFIED PROPERTY ORGANISATIONS
Read moreThe Reserve Bank of Australia (RBA) has announced today that the Official Cash Rate will increase 25 basis points. The
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