NEW MELBOURNE CBD HOT SPOT AS PROPERTY SALES REACH $17 MILLION

NEW MELBOURNE CBD HOT SPOT AS PROPERTY SALES REACH $17 MILLION

LITTLE Lonsdale Street in the heart of Melbourne's CBD has become a favourite for investors in 2017, following the sale of two key commercial properties on the strip.

Number 563-567 Little Lonsdale Street attracted $6.63 million under the hammer, while down the road 361-365 Little Lonsdale Street changed hands off-market for $11.1 million...

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1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property management sector with more than 700 residential units in Brisbane.

The company has announced its newly secured management rights to six apartment blocks on Duncan Street near the Brisbane River in the inner-city suburb of West End.

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EAST COAST PROPERTY BOOM BUILDS PROFITS FOR BRICKWORKS

EAST COAST PROPERTY BOOM BUILDS PROFITS FOR BRICKWORKS

AUSTRALIA'S residential property boom has helped drive a sharp rise in first half earnings for Brickworks (ASX: BKW), which booked a record net profit after tax of $104.1 million up 35 per cent on the prior corresponding period.

The country's largest maker of bricks and tiles posted its best ever first half revenue of $428.9 million (...

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VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

Residential property developer Villa World (ASX: VWL) is ramping up its growth strategy on Australia's east coast "hot spots" with an $80 million capital raising venture.

The Gold Coast-based company, which develops and sells residential land and buildings mostly in Queensland, NSW and Victoria, is looking to grow its inven...

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BRISBANE APARTMENT VACANCIES REMAIN LOW DESPITE INCREASED SUPPLY

BRISBANE APARTMENT VACANCIES REMAIN LOW DESPITE INCREASED SUPPLY

VACANCY rates for new Inner Brisbane apartments remained tight at 2.3 per cent over the December quarter 2016, says new research released today by property consultants, Urbis.

The Urbis Inner Brisbane Apartment Rental Review also found that new developments are out-performing older, established projects with lower levels of amenity.

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CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost half of the total capital transacted during 2016. Last year around US$28.2 billion flowed in from Chinese investors who were seeking a slice of Aussie property, often in the form of Melbourne and Sydney's CBD office assets....

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MIRVAC SELLS $165 MILLION WORTH OF UNISON APARTMENTS IN TWO MONTHS

MIRVAC SELLS $165 MILLION WORTH OF UNISON APARTMENTS IN TWO MONTHS

MIRVAC (ASX:MGR) has made $165 million in settlements since launching the second stage of its Unison development at Newstead at the start of this year.

The $200 million development, which completed construction at the end of February, is now 90 per cent sold.

Mirvac Queensland residential general manager Warwick Bible (pictured right) says...

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VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

VILLA WORLD ADDS CLYDE LAND TO VICTORIA DEVELOPMENT PIPELINE

HOUSING developer Villa World (ASX:VLW) has bought a 42 hectare site at Clyde, south east of Melbourne, for $33 million, adding to its growing portfolio in Victoria.

Villa World CEO and managing director, Craig Treasure, says he considers the Melbourne market to be strong right now, buoyed by population growth.

The state's new first ho...

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AGENT EXITS, LOW LISTINGS HURT MCGRATH

AGENT EXITS, LOW LISTINGS HURT MCGRATH

PROFITS have dived 72 per cent at real estate group McGrath (ASX:MEA) to $2.4 milllion on the back of low property listings.

Listings with company-owned offices were down 20 per cent in the half year, and there's been an exodus of agents, which has dampened sales results.

McGrath speculates Australians have been put off selling ...

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INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

AN influx of international retail brands into Australia over the next five years are expected to push up demand for floor space, says CBRE head of research for Australia, Stephen McNabb.

The retail commercial property sector is attracting keen interest, despite a modest rental growth of 1-2 per cent forecast in the year ahead, according to CB...

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RECEIVERS SELL SPRINGFIELD TOWER FOR $17 MILLION

RECEIVERS SELL SPRINGFIELD TOWER FOR $17 MILLION

SPRINGFIELD Tower has been sold in a $17 million deal around five months after it was placed into the hands of receivers.

JLL sought expressions of interest over a five-week period until late September 2016, on behalf of receivers PPB Advisory.

Located in Springfield Central, the ten-storey office building provides 9,459sqm net lett...

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SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

SURREY HILLS HOTEL SELLS FOR $26.1 MILLION

LANTERN Hotels (ASX:LTN) has divested the last of its hotels with the sale of Surrey Hills Landmark Crown Hotel for $26.1 million to Peak Investments.

The transaction represented the final pub sale in the group's repositioning and divestment strategy. It was sold at a 51 per cent premium to the June 2016 book value of the hotel.

The sa...

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BEAUDESERT SITE SELLS FOR $5.5 MILLION

BEAUDESERT SITE SELLS FOR $5.5 MILLION

A SITE with preliminary approval for residential development in Beaudesert, south-west of Brisbane, has been sold for $5.5 million. The 81.25ha site at Kerry Road, Beaudesert, was sold to developer Beaudesert Oasis by Mark Creevey and Tony Williams of Ray White Special Project Queensland. There were 58 enquiries and four offers received. ...

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WAREHOUSE SALE SETS MASCOT RECORD

WAREHOUSE SALE SETS MASCOT RECORD

A MASCOT warehouse has sold for $2.9 million, a new record for the Sydney suburb.

Located at 295 King St, in a B5 business development zone, the property comprises a 562sqm free standing building on a 740sqm site. It was sold to a private Investor following more than fifty enquiries during the auction process and competitive bidding on t...

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LENDLEASE AND IIG PARTNER TO BUILD BRISBANE'S NEW TIMBER TOWER

LENDLEASE AND IIG PARTNER TO BUILD BRISBANE'S NEW TIMBER TOWER

IMPACT Investment Group (IIG) has entered a $140 million partnership with Lendlease Group (ASX:LLC) to develop, lease and manage the 5 King office building, at Brisbane's Showgrounds.

IIG will fund the property through development, and own the property at practical completion, which is due in late 2018. The purchase price reflects a net p...

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RIPLEY TOWN CENTRE CONSTRUCTION UNDER WAY

RIPLEY TOWN CENTRE CONSTRUCTION UNDER WAY

THE $1.5 billion Ripley Town Centre that will service the rapidly growing Ripley Valley region in the Western Corridor of Ipswich is set to become a reality with construction under way on the highly anticipated project.

The milestone development will create an exciting new regional hub that will service up to 120,000 people expected to call t...

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ABACUS DOUBLES ITS MONEY ON WORLD TRADE CENTRE SALE

ABACUS DOUBLES ITS MONEY ON WORLD TRADE CENTRE SALE

MELBOURNE's World Trade Centre has sold for $267.5 million, having more than doubled in value since 2014.

Abacus Property Group (ASX:ABP), with joint venture partners KKR and Riverlee Group, has exchanged contracts for the sale of World Trade Centre in Melbourne CBD for $267.5 million.

Abacus and KKR purchased 70% of the property from ...

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NORFOLK VILLAGE SELLS FOR $9.7 MILLION

NORFOLK VILLAGE SELLS FOR $9.7 MILLION

A MELBOURNE-based syndicate has bought Norfolk Village in Ormeau for $9.7 million, reflecting a yield of around 7.2 per cent. Located at 174 Pascoe Road on a 6,161sqm site, the single level neighbourhood centre has net lettable area of 1,481sqm and comprises 16 shops varying in size from 49sqm to 199sqm. The centre is fully leased with annu...

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BRISBANE AND GOLD COAST COMMERCIAL PROPERTY MARKETS TIGHTEN

BRISBANE AND GOLD COAST COMMERCIAL PROPERTY MARKETS TIGHTEN

BRISBANE'S commercial property market performed at five times its historical average in the six months to 31 December as the city's vacancy rate dropped from 16.9 per cent to 15.3 per cent, according to the latest Property Council's Australian Office Market Report.

This result has come despite, or perhaps because of, the Quee...

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TRIGUBOFF TAKES APARTMENT PORTFOLIO ABOVE 3000 UNITS

TRIGUBOFF TAKES APARTMENT PORTFOLIO ABOVE 3000 UNITS

HARRY Triguboff has reached a new milestone with his property investment portfolio by breaching 3,000 apartments. The 3,066 apartments, all in Sydney, have been accumulated over 15 years by the Meriton group founder and owner and are worth more than $3 billion. They are in addition to nearly 4,500 serviced apartments owned by Meriton and a ...

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