BLUE SKY FINALISES SECOND NEW YORK ACQUISITION

BLUE SKY FINALISES SECOND NEW YORK ACQUISITION

BLUE Sky Alternative Investments (ASX:BLA) has finalised its acquisition of a second office tower in New York through Cove Property Group. Located in Manhattan, 441 Ninth Avenue represents a transaction value of more than $400 million and follows the purchase of 2 Rector Street in March. The majority of the equity for the deal was pro...

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EVERTON PARK SET FOR REDEVELOPMENT AFTER SALE

EVERTON PARK SET FOR REDEVELOPMENT AFTER SALE

A SHOPPING centre in Brisbane's inner northern suburbs has been earmarked for a major redevelopment after selling to private investors for $27.7 million, at a yield of 7.1 per cent.

Everton Plaza's new owners, together with retail property development firm Reds Group, plan to invest significant capital to renovate the 1969-built centr...

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HARVEY NORMAN BUYS MACGREGOR SITE

HARVEY NORMAN BUYS MACGREGOR SITE

HARVEY Norman has purchased a 23,786sqm site in MacGregor, south of Brisbane, for $16 million, where the company will build a new superstore.

The Kessels Road site, which is located in a large format retail precinct, has more than 10,000sqm NLA occupied by Asahi Beverages.

"Asahi will be relocating the production process housed...

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AUSTRALIA TRADE COAST PROPERTY SELLS FOR $10.3M

AUSTRALIA TRADE COAST PROPERTY SELLS FOR $10.3M

CLARENCE Property has purchased its first industrial investment for $10.3 million, on a yield of 7.5 per cent, within the Australia Trade Coast precinct.

The property will diversify the Westlawn Property Trust, which currently consists of commercial and retail assets as well as land developments.

The facility was built in 2007 and comprise...

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UNITA GROUP SEES SYDNEY AS ITS NEW 'ENGINE ROOM'

UNITA GROUP SEES SYDNEY AS ITS NEW 'ENGINE ROOM'

DIVERSIFIED construction and technology company Unita Group has unveiled plans for a dedicated Sydney office, laying the foundations for a new phase of national expansion. The Brisbane-based group already turns over $15 million in NSW, with a further $50 million in projects under way across Australia on behalf of clients based in Sydney. ...

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UK'S SCAPE LIVING SWOOPS ON $13.5M BRISBANE SITE

UK'S SCAPE LIVING SWOOPS ON $13.5M BRISBANE SITE

SCAPE Living has secured a Brisbane site for $13.5 million for its second student accommodation project in the city. The UK-based business has been making strides in Australia, after snapping up locations in Melbourne and Sydney for its student halls. The latest site in Toowong has development approval for a 15 storey residential apar...

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NEW OFFICE SPACE LEASES RISE 21 PER CENT

NEW OFFICE SPACE LEASES RISE 21 PER CENT

STRONG small business activity has driven a 21 per cent increase in the amount of office space leased across major Australian markets, according to Colliers International's latest Office Demand Index. The reports shows that a total of 448,163sqm of office space was leased nationally as of September YTD 2016, with 85 per cent of t...

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BRISBANE 'GATSBY' HOTEL UNVEILS REVAMP

BRISBANE 'GATSBY' HOTEL UNVEILS REVAMP

ONE of Brisbane's longest-standing hotels has been returned to its former glory. Royal on the Park, formerly known as the Park Royal Motor Inn, was officially opened by the Lord Mayor of Brisbane Clem Jones in 1969. Since then, it has been home to some big names including Elton John, Led Zeppelin, Mick Jagger, ACDC, John Farnham a...

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CHINESE SNAP UP AUSTRALIAN HOTELS

CHINESE SNAP UP AUSTRALIAN HOTELS

CHINESE investors accounted for 42% of the $1.7 billion in hotel sales in Australia year-to-date according to new research from CBRE.

CBRE Hotels Executive Director Robert McIntosh says the Australian hotel market is being increasingly targeted by Asian capital with Chinese investors leading the charge.

"Recent volatility in global eq...

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DEMAND SURGES AFTER FIRST HOME BUYERS' GRANT BOOST

DEMAND SURGES AFTER FIRST HOME BUYERS' GRANT BOOST

FIRST home buyers have moved quickly to take advantage of the Queensland Government's $5,000 increase to the First Home Owners' Grant to $20,000, says Colliers International.

Since the boost was implemented on 1 July, Colliers has experienced an increase of 74 per cent in enquiry and a 23 per cent increase in sales from first home buy...

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TOWER SELLS OUT AMID FEARS OF BRISBANE APARTMENT GLUT

TOWER SELLS OUT AMID FEARS OF BRISBANE APARTMENT GLUT

ALL 147 apartments at the $86 million Trafalgar Lane at Woolloongabba have settled following the tower's completion in July, and all the apartments have been leased within 60 days of settlement.

Amid fears of an apartment glut in Brisbane, the project, developed by Melbourne-based Pellicano, has demonstrated demand remains in the cit...

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LUXURY APARTMENT BUYERS POCKET $200,000 GAIN IN A YEAR

LUXURY APARTMENT BUYERS POCKET $200,000 GAIN IN A YEAR

THE trade in luxury apartments has strengthened in Brisbane over the past year with average capital gains of about 14 per cent for properties worth $1 million or more, according to Colliers International.

This is despite the latest data showing a broader slowdown in the inner-city apartment market which has led to some projects being mothball...

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SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER

SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER

PROLIFIC Brisbane-based developer Mosaic Property Group has moved into the Sunshine Coast market as a result of booming investment in the region.

Its first purchase is a $1.375 million Kings Beach site on Canberra Terrace. Mosaic has lodged a development application for a 31-apartment complex on the site, which is perched high on a north...

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VILLA WORLD BUYS GREENBANK LAND IN JOINT VENTURE

VILLA WORLD BUYS GREENBANK LAND IN JOINT VENTURE

VILLA World Group (ASX: VLW), has purchased a 153-hectare site at Greenbank, 34 kilometres south of Brisbane, for $50 million in a joint venture with Greenfields Development Company.

The site has been approved for 1,000 residential lots for part of the site and the partners will seek approval for a further 500 lots for the remainder.

...

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DEVELOPERS MISS THE POINT AS APARTMENT BUST 'INEVITABLE'

DEVELOPERS MISS THE POINT AS APARTMENT BUST 'INEVITABLE'

A BUST in the inner-city apartment market is a foregone conclusion, according to BIS Shrapnel economist Frank Gelber, and he puts some of the blame on a blinkered approach by developers. Gelber, addressing a BIS Shrapnel economic briefing in Brisbane, also says while the economy may have held up relatively well following the mining downtu...

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INVESTORS LOOK BEYOND CBDS FOR PRIME COMMERCIAL REAL ESTATE

INVESTORS LOOK BEYOND CBDS FOR PRIME COMMERCIAL REAL ESTATE

COMPETITION for high-quality metropolitan office investments in Sydney, Melbourne and Brisbane is rising among large offshore investors, says new Colliers International research, leading to the gap between CBD and metro investor volumes tightening as the search for prime assets widens beyond the traditional business areas.

This can be se...

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BRISBANE TECH PARK PROPERTIES SELL FOR $24.5 MILLION

BRISBANE TECH PARK PROPERTIES SELL FOR $24.5 MILLION

THREE properties in the Brisbane Technology Park at Eight Mile Plains have sold in one line for $24.5 million.

The assets were owned by Sydney-based fund manager Denison, forming part of its unlisted Denison Diversified Property Fund. The entire property fund is on the market, but the three Brisbane properties were sold as a carve-out fr...

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INVESTORS LOOK TO RETAIL PROPERTY FOR CASH RETURNS

INVESTORS LOOK TO RETAIL PROPERTY FOR CASH RETURNS

DEMAND for retail commercial property is surging Australia wide as investors seek secure returns on investments in a time of record low interest rates.

Ray White Commercial Gold Coast director Greg Bell says commercial property is becoming an attractive option for investors wanting capital growth potential and strong rental yields.

...

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BOTANICA RISES ABOVE THE BRISBANE BOOM

BOTANICA RISES ABOVE THE BRISBANE BOOM

'EVERYBODY seems to know the Botanica building.' These are General Manager Otis Towill's proud words as he reflects on the completion of PBS Building's latest multi-award winning project, the Botanica Residences at Edmondstone Street. PBS won the competitive design and construct tender for Botanica, commissioned by the...

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BILLION DOLLAR DEAL OFFICIALLY RUNNING HOT

BILLION DOLLAR DEAL OFFICIALLY RUNNING HOT

REACTION to the planned $1 billion sale of a 'mini-city' site between the Gold Coast and Brisbane has been swift, with at least one major Australian company in the frame as a potential buyer.

Roland Evans, principal of commercial realtor Canford Property Group, says he is vetting the veracity of interest shown in the 6100ha site ...

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IF THERE'S A GLUT, PELLICANO IS NOT FEELING IT

IF THERE'S A GLUT, PELLICANO IS NOT FEELING IT

MELBOURNE'S Pellicano Group may be taking a massive bite at Brisbane's inner-city apartment market, but it remains unfazed by growing talk of a property glut. The company, which next year celebrates 50 years in business, expanded into Queensland in 2004 and is currently developing the $600 million South City Square in Woolloongabb...

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COAST'S BILLION-DOLLAR FIELD OF DREAMS

COAST'S BILLION-DOLLAR FIELD OF DREAMS

IT'S a massive parcel of underutilised caneland, it's as large as Manhattan Island in New York and it could be the Gold Coast's answer to Orlando, the undisputed theme park capital of the world. In an extraordinary case of neighbours uniting for a cause, more than 6100ha of caneland nestled in the burgeoning urban corridor bet...

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THE PRECIPICE THAT INSPIRED PERFECTION

THE PRECIPICE THAT INSPIRED PERFECTION

When Bio Scapes first got to work on its latest project at Teneriffe, tackling the terrain appeared to be a tall order. Director Noel Brown and his team were up against a steep cliff face, quite literally, during the 4-month construct of the Teneriffe home, resulting in limited access and budget strains. Even though the elements may n...

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BRISBANE'S ALTO & TENOR PROVES IN TUNE WITH BUYERS

BRISBANE'S ALTO & TENOR PROVES IN TUNE WITH BUYERS

MORE than 60 per cent of apartments in the Alto & Tenor development fronting Red Hill's Upper Clifton Terrace and Lower Clifton Terrace have sold.

The two art-deco-inspired buildings with dual street frontage will see with the majority of apartments enjoying uninterrupted views of Brisbane's CBD.

With demolition of existing inf...

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ONTHEHOUSE DIPS, BUT OPPORTUNITY STILL KNOCKS

ONTHEHOUSE DIPS, BUT OPPORTUNITY STILL KNOCKS

PROPERTY data company Onthehouse (ASX: OTH) has seen a steep decline in its full year profit after exiting its namesake website, but says its laying the bricks for something different.

Onthehouse has also shed revenue and EBITDA.

The Brisbane company took in $21.42 million in sales revenue for the full year, down 0.4 per cent, while...

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SYDNEY OFFICE SPACE IN DEMAND AS TECH COMPANIES EXPAND

SYDNEY OFFICE SPACE IN DEMAND AS TECH COMPANIES EXPAND

TECH companies have taken up the space in Sydney office towers vacated by law firms that have downsized, or moved location, says GPT Group (ASX: GPT) in its interim report. GPT has secured tenants such as Uber and Amazon in the past year, and Information media and telecommunications tenants now make up 36 per cent of the company's ten...

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IT SECTOR DEMANDS OFFICE SPACE IN BRISBANE

IT SECTOR DEMANDS OFFICE SPACE IN BRISBANE

BRISBANE-based IT services provider Deployus has secured a 384sqm suite on the ground floor of 725 Ann Street in Fortitude Valley to accommodate its rapidly growing operations. CBRE's Michael Skarparis and Mel Pikos, in conjunction with Chase Commercials' James Haining, negotiated the three-year lease deal for an annual rental of ...

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APARTMENT BUILDING BOOM HAS PEAKED, SAYS BIS SHRAPNEL

APARTMENT BUILDING BOOM HAS PEAKED, SAYS BIS SHRAPNEL

NEW apartment commencements will decline by 50 per cent in the next four years from today's "unsustainable" level of 107,000, says today's BIS Shrapnel Building in Australia 2016-2031 report.

Total dwelling starts reached 220,100 in 2015/16, an all-time high, but the decline is expected to start this year and this will mostly...

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HAMILTON REACH SCORES NEW TOWER

HAMILTON REACH SCORES NEW TOWER

FRASERS Property Australia is adding to its Hamilton Reach community with a new apartment block.

The $900 million Hamilton Reach pocket in Brisbane's inner north will be the beneficiary of Riverlight, a selection of one, two and three-bedroom apartments. Apartments start at $420,000.

The developer has been credited with transforming th...

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BRISBANE DEVELOPMENT ALIGNS WITH WORLD-RENOWNED ARTIST

BRISBANE DEVELOPMENT ALIGNS WITH WORLD-RENOWNED ARTIST

A BRISBANE developer has appointed an internationally-renowned artist to drive the creative direction of its new project. Sam Chirnside (pictured) has created a series of artworks for Brookfield Residential Properties' $144 million Gallery House at Hamilton. His artworks have been exhibited in St Martins Lane in London, Hamburg in...

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