SCA PROPERTY GROUP BUYS THIRD GOLD COAST SHOPPING CENTRE FOR $46 MILLION

SCA PROPERTY GROUP BUYS THIRD GOLD COAST SHOPPING CENTRE FOR $46 MILLION

SCA Property Group has acquired the Worongary Town Centre for $46.3 million, bringing the total number of Gold Coast centres owned by the group to three. The sale, brokered by Peter Tyson and Jon Tyson of Savills, reflected a yield of six per cent and generated over 200 buyer enquiries. Featuring 42 retail, medical and office tenancie...

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VILLA WORLD SNAPS UP GOLD COAST LAND FOR $300M RESIDENTIAL DEVELOPMENT

VILLA WORLD SNAPS UP GOLD COAST LAND FOR $300M RESIDENTIAL DEVELOPMENT

RESIDENTIAL developer Villa World (ASX: VLW) has secured one of the last remaining parcels of Central Gold Coast land for $300 million with plans to build a 400-house development.

The Arundel Springs community is the largest residential development the group has undertaken on the Gold Coast and taps into a growing demand for more homes in the...

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ICONIC GOLD COAST NEIGHBOURHOOD SHOPPING CENTRE CHANGES HANDS

ICONIC GOLD COAST NEIGHBOURHOOD SHOPPING CENTRE CHANGES HANDS

MUDGEERABA Market, one of the Gold Coast's favourite suburban shopping centres, has changed hands for $35.8 million following a heated sales campaign which attracted attention from offshore buyers.

Although contested by numerous private investors from Asia, Sydney-based SCA Property Group ended up winning the sale at an estimated ble...

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ASF UNVEILS THE CHERRY ON TOP OF ITS INTEGRATED RESORT DEVELOPMENT

ASF UNVEILS THE CHERRY ON TOP OF ITS INTEGRATED RESORT DEVELOPMENT

ASF Consortium has revealed the newest addition to its $3 billion Gold Coast integrated resort (GCIR) project, a 6,000sqm beach club in the heart of The Spit.

The open-plan venue, inspired by beach clubs in holiday destinations including Florida, Thailand, Dubai and Indonesia, will be able to cater for more than 3,000 guests across a var...

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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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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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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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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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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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ROBINA PROFESSIONAL CENTRE GETS $2 MILLLION UPGRADE

ROBINA PROFESSIONAL CENTRE GETS $2 MILLLION UPGRADE

ROBINA Group has commenced a $2 million refurbishment of the Robina Professional Centre, after purchasing the vacant three-level commercial building late last year.

Woollam Constructions has been appointed to undertake the revamp and extension of the centre, at 36 Laver Drive in CBDRobina.

Demolition of the former interior fit-out has alre...

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GOLD COAST SHAPES UP BEST IN A POTENTIAL APARTMENT CRASH

GOLD COAST SHAPES UP BEST IN A POTENTIAL APARTMENT CRASH

THE Gold Coast is emerging as Australia's most resilient property market with capacity to ride out a potential collapse in the capital cities' apartment boom, even though sales have hit their highest levels in eight years, says a property researcher. The latest Urbis Gold Coast Apartment Essentials report for the September quarter...

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PALM BEACH SALE MARKS 'GOLDEN' RETAIL INVESTMENT

PALM BEACH SALE MARKS 'GOLDEN' RETAIL INVESTMENT

A PRIVATE investor has scooped the Palm Beach McDonald's and 7-Eleven service station for $8.525 million in the retail block's first time on the market. Both McDonald's and 7-Eleven have occupied the site since it was developed in 2001 and are secured on long-term net leases with fixed annual rental increases. Located on t...

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AUSTRALIA FAIR BREAKS GROUND ON $25M MAKEOVER

AUSTRALIA FAIR BREAKS GROUND ON $25M MAKEOVER

CONSTRUCTION on the first phase of Australia Fair Shopping Centre's $25 million transformation kicks off this week, signalling another step towards Southport's revival. The 13-month project includes new fitouts and relocations of existing national retail brands, as well as new tenants. Coles will be expanded into the adjoining...

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PWR HEADQUARTERS SOLD FOR $11.5 MILLION

PWR HEADQUARTERS SOLD FOR $11.5 MILLION

THE home of PWR Performance Products has been bought by a private investor for $11.1 million on a yield of 7.3 per cent.

PWR recently signed a 10-year lease extension for the 6,855sqm facility, located within the Motorway Business Park in Ormeau, with two five-year options. The 9,349sqm site is located at 99-103 Lahrs Road.

Adam Wills, dir...

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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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GOLD COAST AIRPORT UPGRADE PUSHED BACK UNTIL AFTER GAMES

GOLD COAST AIRPORT UPGRADE PUSHED BACK UNTIL AFTER GAMES

THE first stage of the $300 million Gold Coast Airport upgrade has been put on hold until after the Commonwealth Games over fears that time to complete the development is running out. While construction had been expected to start as early as May this year and finish ahead of the April 2018 deadline, airport owner Queensland Airports Ltd t...

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JUPITERS SIX-STAR TOWER TAKES SHAPE

JUPITERS SIX-STAR TOWER TAKES SHAPE

JUPITERS Hotel & Casino's $345 million transformation has hit the halfway mark with the concrete slab being poured for level nine. The six-star 17-storey development is on track to be fully operational ahead of the Gold Coast 2018 Commonwealth Games. The Star Entertainment Group (ASX:SGR) managing director Geoff Hogg says the ...

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GRAND CHANCELLOR MAKES WAY FOR COAST'S FIRST NOVOTEL

GRAND CHANCELLOR MAKES WAY FOR COAST'S FIRST NOVOTEL

THE new owner of Hotel Grand Chancellor in Surfers Paradise has struck a deal to rebrand the property under the Novotel moniker after appointing Accor Hotels as manager.

It will be the first time Novotel has established a presence on the Gold Coast and follows the $80 million acquisition of the prime asset by Challenger Investment Partne...

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QINGJIAN GROUP TAKES OVER SURFERS PARADISE DEVELOPMENT

QINGJIAN GROUP TAKES OVER SURFERS PARADISE DEVELOPMENT

GLOBAL development and construction giant Qingjian Group has taken control of the $107 million Northcliffe Residences beachfront project in Surfers Paradise, laying the foundation for its push into the Australian market.

The 64-year-old Chinese conglomerate, known as CNQC and ranked in China's Top 500 enterprises for 12 consecutive years,...

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ROBINA GROUP 'THE LOGICAL BUYER' IN $5 MILLION DEAL

ROBINA GROUP 'THE LOGICAL BUYER' IN $5 MILLION DEAL

THE Robina Group has re-invested in its own stomping ground, after acquiring the Robina Professional Centre for circa $5 million. In the heart of the commercial precinct, the centre has now become a significant site for the Robina Group as it seeks to cater to an increased demand for office space from tenants relocating to the area. G...

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$300M LIGHT RAIL WINDFALL FOR LANDOWNERS

$300M LIGHT RAIL WINDFALL FOR LANDOWNERS

THE Gold Coast light rail network has boosted the value of properties within a short walking distance of a tram stop by $300 million, or almost quarter of the total $1.3 billion cost of the first stage of the project, says a university researcher. While private landowners are the primary beneficiaries of this increase, the researcher esti...

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SAVILLS OPENS GOLD COAST RESIDENTIAL OFFICE

SAVILLS OPENS GOLD COAST RESIDENTIAL OFFICE

THE Gold Coast's thriving property market has attracted global brand Savills to set up a residential office in the city for the first time.

Ged Rockliff (pictured), head of residential at Savills Australia, says the expansion has been a key objective for Savills and comes as part of a strategy to enter markets seen as having growth p...

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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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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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MANTRA EXPANDS GOLD COAST PORTFOLIO

MANTRA EXPANDS GOLD COAST PORTFOLIO

MANTRA Group (ASX: MTR) has acquired the management rights for Southport Central, a large permanent rental business on Queensland's Gold Coast, at an undisclosed price, it announced today. Southport Central will add 788 permanent letting apartments to Mantra Group's portfolio, which spans Australia, New Zealand, Indonesia and Hawaii ...

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LOW YIELD IN GOLD COAST SUPERMARKET SALE

LOW YIELD IN GOLD COAST SUPERMARKET SALE

WOOLWORTHS-anchored Reedy Creek Village Shopping Centre has sold for $20.5 million to a local investor on an yield of 5.9 per cent. The sale was conducted by Stewart Gilchrist of Colliers International, together with Nigel Smith of Burgess Rawson and Leonie Smith of Smith Commercial. The buyer was a family, with members based both on the...

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