Shortage of listings affects Sydney market
Home-owners are sitting tight, resulting in a sharp decline in property turnover, according to second quarter 2007 data just released by Real Estate Institute of New South Wales.
Read moreReal Estate News
Year-long rental drought for Sydney
For the 12th month in a row, the residential property vacancy rate in Sydney has remained at below 2% – the benchmark figure that indicates whether or not there is a rental crisis.
Read moreStockland Streamlines Business Structure to Leverage Market Synergies
Stockland 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 moreMiserable outlook for Sydney tenants
Christmas is coming, but it is not going to be very festive for people seeking rental accommodation in Sydney according to Cristine Castle, President of the Real Estate Institute of New South Wales (REINSW).
Read moreHome Buyers, Housing Market Hurting Enough
‘The decision today to leave interest rates unchanged provides some relief to home buyers, struggling to cope with a blowing out of their mortgage repayments as a result of successive official interest rate rises, as well as the additional interest rate increases imposed by many lenders in recent months,’ says Noel Dyett, REIA President.
Read moreTop real estate performers honoured
Real estate agents from all corners of NSW gathered at Sydney’s Convention and Exhibition Centre on Saturday night to recognise the achievements of their peers.
Welcoming guests to the Real Estate Institute of New South Wales’ 10th Annual Awards for Excellence, REINSW President Cristine Castle said the event is a celebration of professionalism which recognises the star performers, both teams and individuals, that are key players in the State’s multi-billion dollar residential and commercial property market.
Read moreSteve Mann Quits Stockland
Steve Mann, head of Stockland’s Office and Industrial business today announced that he would be leaving Stockland.
Read moreTop honour goes to leading local agent
Wagga Wagga real estate agent Chris Fitzpatrick took out the prestigious Woodrow Weight Award for outstanding contribution to real estate agency practice in the 2007 Real Estate Institute of New South Wales’ (REINSW) annual awards, presented at a gala function in Sydney on Saturday, 20 October.
Read moreWoods Bagot to Build Twin Tower Office Project in Abu Dhabi, United Arab Emirates
The 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 moreMacquarie Countrywide Sells Two of Ten Supermarkets at Auction
Executives at Macquarie Countrywide Trust are licking their wounds after only two of ten supermarkets they put to auction yesterday, sold.
Read moreMacquarie Sells 505 Little Collins Street Melbourne For $83 Million
Macquarie 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 moreResidential Building Approvals Stall in Australia
Building approvals went nowhere in February as the run of weak updates for the new home building sector continued.
Read moreSolid Leasing Results for Macquarie Office Highlight Quality Portfolio
The 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.
RBA Keeps Interest Rates Steady at April Meet
At its meeting today, the Board decided to leave the cash rate unchanged at 7.25 per cent.
Read morePorter Davis in Legal Win Over Carlisle Homes
Architects at Porter Davis Homes are celebrating after another win in court, this time against smaller rival Carlisle Homes.
Read moreCelebrity Chef Gordon Ramsay to Open Restaurant in Australia, and Film Experience
Crown 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 moreCBRE commits to Earth Hour
CB 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 Says Pelorus Cancellation of Meetings Disenfranchises Investors
Centro 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 moreMFS Rebrands to OCTAVIAR, and Delivers Market Update (March 28, 2008)
Name 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”
Pelorus Reschedules Centro Meetings, Nominates Trust Co as Responsible Entity
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 morePorter Davis Celebrates Win in the Courts Against Carlisle Homes
Architects at Porter Davis are celebrating another win in court, this time against smaller rival Carlisle Homes.
Read moreUpdate on World Trade Centre Litigation, from Bovis Lend Lease
Bovis 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 announces restructure of Executive Committee
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 more80 Per Cent Surge in Properties For Sale, According to New Research
The 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 moreMFS Group Announces Breach of Loan Facility to Customers
Dear 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 moreNAB to Increase Interest Rates for the Third Time in Seven Weeks
The 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 moreCharter Hall Tunes Out of Channel Nine Sites
Aquisitive 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 Makes $81.5 Million From Sale of 47 National Branches
ANZ 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 moreRivkin’s Old Craig-y-Mor Mansion in Point Piper Sets New Australian Price Record of $32.4 Million
The 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 moreCity Pacific Limited Letter to Investors
Dear 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.
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