ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like within the century. Research conducted by IKEA Australia in its People & Planet Positive Report shows that the headcount is likely to reach 70 million in the next hundred years, but only a fraction of the current population ...

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RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

THE Australian building market is set to decline by 17 per cent over the next three years led by a collapse in residential starts, according to BIS Oxford Economics.

National building commencements peaked in 2015/16 at $107.3 billion, up by 22 per cent in real terms from the end of the resources investment boom in 2012-13, but is expected...

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SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

THE long-neglected and much maligned Festival Plaza in Adelaide has received a hero in the form of long-time neighbour: SkyCity. SkyCity Entertainment today announced it will commit to a $330 million expansion of the Adelaide Casino, revamping the Festival Plaza precinct. The expansion will include a boutique hotel, signature restaura...

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QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two years after it was last acquired.

A private local investor purchased the standalone office building from United Investment Management (UIM) which was acquired by UIM in 2015.

The office, located at 17-21 Hardner Road, is securel...

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CHINESE INVESTORS SNAP UP BRIGHTON HOTEL FOR $15.8 MILLION

CHINESE INVESTORS SNAP UP BRIGHTON HOTEL FOR $15.8 MILLION

BRIGHTON'S Marine Hotel has sold for $15.8 million, following a heated sales campaign proving that Chinese appetite within Melbourne's real estate hotspots is still strong.

The Marine Hotel, located in the bayside suburb of Brighton, sold to a mainland Chinese investor and boasts 20 years of additional options remaining on the current...

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VILLA WORLD'S VICTORIAN EXPANSION CONTINUES WITH $44 MILLION MELBOURNE LAND ACQUISITIONS

VILLA WORLD'S VICTORIAN EXPANSION CONTINUES WITH $44 MILLION MELBOURNE LAND ACQUISITIONS

PROPERTY developers Villa World (ASX: VLW) has expanded its footprint in Victoria with $44 million in land acquisitions in Melbourne's north-west growth corridor.

The acquisitions are part of Villa World's "Precinct Structure Plans" for the Plumpton region which will create more than 500 lots targeted at first home buyers an...

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CHINESE DEVELOPER SCORES EXPANSIVE MELBOURNE LANDHOLDING FOR $36 MILLION

CHINESE DEVELOPER SCORES EXPANSIVE MELBOURNE LANDHOLDING FOR $36 MILLION

ONE of Mornington Peninsula's largest individual landholdings has been acquired by a Chinese developer for $36.2 million.

The Morning Star Estate in Victoria is an expansive 63-hectare holding which includes accommodation, a cellar door and a restaurant, and it has uninterrupted views from the Bellarine Peninsula to Melbourne.

The esta...

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MAKE WAY FOR THE 'PANTSCRAPER', A TWIN TOWER SET TO CHANGE MELBOURNE'S CITYSCAPE

MAKE WAY FOR THE 'PANTSCRAPER', A TWIN TOWER SET TO CHANGE MELBOURNE'S CITYSCAPE

MELBOURNE'S skyline is about to transform following the construction of a $1 billion luxury high-rise in the city centre.

Called the "Pantscraper", named after its twin towers joined by a sky bridge, Cbus Property's 42-storey mixed-use development comprises 49,000 square metres of premium-grade office space, a five-star W Ho...

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MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

IT'S BEEN 10 years in the planning and had at least 10 different architects and has involved the acquisition of multiple properties, and now the redevelopment of Melbourne's iconic Rialto tower precinct is almost complete.

The $200 million redevelopment has breathed new life into the CBD and the Rialto precinct covers more than 8...

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NEW MAJOR PRE-LEASE BOLSTERS EMERGING MELBOURNE INDUSTRIAL PRECINCT

NEW MAJOR PRE-LEASE BOLSTERS EMERGING MELBOURNE INDUSTRIAL PRECINCT

TRANSPORTATION equipment group CIMC Vehicle Australia and road tanker manufacturer Marshall Lethlean are set to take up tenancy in the emerging Cranbourne West industrial precinct, after finalising one of the area's first major pre-lease agreements. The two companies, which are both subsidiaries of the global CIMIC Group, will combine...

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AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

AGENTS REPORTING STRONG DEMAND FOR MELBOURNE CBD OFFICE SPACE PURCHASES

SEVEN Melbourne CBD offices have recently sold for more than $11 million in total, demonstrating huge demand for central office space in the city.

Colliers International brokered deals for record sums on office spaces in the centre of Melbourne as demand for space increases.

Just last week, office spaces on Lonsdale Street and Colli...

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MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

MELBOURNE SHOPPING CENTRE SELLS FOR $48m AS CHINESE DEMAND RAMPS UP

A MELBOURNE shopping centre has been sold for $48 million, bringing the total spent by Chinese investors on Victorian retail to $380 million over the past 15 months.

The Arena Shopping Centre, in the south-east suburb of Officer, is positioned on a 2.97 hectare site and features 25 speciality retailers, including McDonald's and Woolw...

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CARPARK IN BOOMING WEST MELBOURNE SOLD FOR $25M

CARPARK IN BOOMING WEST MELBOURNE SOLD FOR $25M

A CHINESE developer has purchased a prominent West Melbourne carpark for $25million with plans to redevelop it into residential or commercial office space.

Chinese developer Holder East secured the 1,877sqm corner site on La Trobe Street which has been owned by an Indonesian syndicate for the past 15 years.

The property was the first carpa...

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EXCLUSIVE MELBOURNE BEACHFRONT VENUE SNAPPED UP BY CHINESE INVESTORS

EXCLUSIVE MELBOURNE BEACHFRONT VENUE SNAPPED UP BY CHINESE INVESTORS

A HUGELY sought after landholding in Melbourne's Albert Park has been bought for $18 million by mainland Chinese investors.

Albert Park's Beach Hotel, one of Melbourne's most popular drinking spots, and the neighbouring Foodworks Supermarket is situated directly across Port Phillip Bay.

The hotel, which is four kilometres from ...

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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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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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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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OREANA WINS GOLDEN PUNT WITH ASCOT DEVELOPMENT

OREANA WINS GOLDEN PUNT WITH ASCOT DEVELOPMENT

THE OREANA Property Group has bought the last slice of ISPT's Pakenham Racecourse development in Melbourne for $7 million, following a heated expressions of interest campaign. Oreana secured the 25.48 hectare Ascot Central site in the sale, a development consisting of 475 residential lots. Ascot Central forms a primary hub for the...

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MELBOURNE GROUND FLOOR SHOP SELLS FOR $4.71 MILLION

MELBOURNE GROUND FLOOR SHOP SELLS FOR $4.71 MILLION

CHINESE property developer Hengyi has sold the home of a popular Melbourne café for $4.71 million marking the largest ground floor shop sale in the CBD for 2016.

The 518 Little Bourke Street property, which is leased to Little Billy Café on a 10-year term, forms part of Hengyi's William Court portfolio - listed for sale...

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NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

AFTER two decades in the hands of a private syndicate, The Novotel Melbourne Glen Waverley has been sold to the Sydney-based iProsperity Group for $73.6 million. Colliers International's Gus Moors, Neil Scanlan and Guy Wells finalised the deal with the Asian offshore investment advisory firm, following an expression-of-interest campai...

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MELBOURNE CBD OFFICE SELLS FOR $80 MILLION

MELBOURNE CBD OFFICE SELLS FOR $80 MILLION

A MAJOR office space in Melbourne's CBD has been snapped up by a private Chinese investor for an estimated $80 million.

The sale, by an unlisted property trust associated with Melbourne businessmen Ron Lazarovits and Max Fremder, was negotiated on the vendor's behalf by Colliers International and Teska Carson.

The 10-level office b...

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FOREIGN INVESTORS MAKE 'SEISMIC SHIFT' TO RETAIL

FOREIGN INVESTORS MAKE 'SEISMIC SHIFT' TO RETAIL

AN offshore buyer has snatched up 19th Hole Shopping Centre in Woodend, acquiring the 18,201sqm site for almost $18million.

The neighbourhood shopping centre was listed for sale for the first time in 50 years by Colliers International selling agents Tom Noonan and Tim McIntosh.  The pair fielded more than 150 enquiries from local, syndic...

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DEVELOPER BUYS BUCKLEY'S CORNER

DEVELOPER BUYS BUCKLEY'S CORNER

BUCKLEY'S Corner in Footscray has sold to a Melbourne developer for $5.5 million.

The property located at 26-30 Buckley Street - benefits from a premium location within the Footscray culinary and business activity precinct, offering diverse retail, food and lifestyle attractions including the renowned Footscray Market.

CBRE's David...

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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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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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FRIDCORP UNVEILS LATEST SYDNEY PROJECT

FRIDCORP UNVEILS LATEST SYDNEY PROJECT

FRIDCORP has launched its $700 million BEYOND precinct in a bid to transform Sydney's Hurstville. The 13,927sqm masterplanned community will comprise a mix of 556 one, two and three-bedroom apartments across four buildings up to 20 levels high. BEYOND will also feature a 5000sqm retail plaza anchored by Woolworths that will link t...

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DEVELOPER SCORES SOUTHBANK SITE FOR $80M TOWER

DEVELOPER SCORES SOUTHBANK SITE FOR $80M TOWER

A HONG KONG developer has scooped one of the last major permit-approved sites within Melbourne's Crown Casino precinct for $8.8 million. The Southbank location has been earmarked for an $80 million 38-level residential tower designed by local architecture firm Fender Katsalidis. Located at 18 Moray Street, the sale set a new bench...

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BIG PLAYERS JOIN UP FOR SMALL TOURISM DEAL

BIG PLAYERS JOIN UP FOR SMALL TOURISM DEAL

THE founders of Carsales.com and Jayco Caravans have made a minor play in the Melbourne tourism market with the $4.65 million acquisition of Gumbaya Park, an  amusement park near Pakenham in the city's south-east. Jayco's Gerry Ryan, who is worth an estimated $370 million, and Carsales' Wal Pisciotta have joined forces in...

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