RETIREMENT VILLAGE PLANNED FOR $6 MILLION MAROOCHYDORE SITE

RETIREMENT VILLAGE PLANNED FOR $6 MILLION MAROOCHYDORE SITE

AURA Australia Management has purchased a 9,154sqm site in Maroochydore for $6 million to build an apartment-style retirement village as it continues its plan to build an 800-dwelling portfolio on the eastern seaboard of Australia.

The vacant corner site at Anzac Avenue and Baden Powell Street Site has council approval for 123 apartments with...

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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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BUYER SPENDS $14 MILLION IN SINGLE TRANSACTION AT LUXURY NEWSTEAD APARTMENTS

BUYER SPENDS $14 MILLION IN SINGLE TRANSACTION AT LUXURY NEWSTEAD APARTMENTS

A BUYER has purchased $14 million worth of property in a single transaction at Kokoda Property's $119 million Ella development in Newstead, Brisbane.

This purchase follows the project launch in late November, when $22 million in sales was transacted at the development.

The $14 million buyer purchased a complete floor, plus three additi...

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US PROPERTY GIANT SNAPS UP BRISBANE'S IBM BUILDING

US PROPERTY GIANT SNAPS UP BRISBANE'S IBM BUILDING

US PROPERTY group, Hine has purchased the prominent IBM tower overlooking 348 Edward St, King Edward Park for $49 million.

The deal was struck at an equivalent yield of 8.53 per cent and was negotiated by CBRE's Bruce Baker, Flint Davidson and Tom Phipps on behalf of private Brisbane-based company, Harburg Investments.

CBRE's David...

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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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THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the pond from Darling Harbour, has revealed the stunning winning design for a proposed $500 million hotel apartment tower at its flagship Sydney property. The 60-storey project, which will see a return of The Ritz Carlton brand to...

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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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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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NEW REAL ESTATE PLATFORM LETS YOU BYPASS THE AGENT

NEW REAL ESTATE PLATFORM LETS YOU BYPASS THE AGENT

THERE'S a new player in the digital economy that allows you to buy a house online without the need for human contact. Sydney-based property portal iBuyNew (ASX:IBN) has launched an online reservation system for new home buyers to reserve their preferred properties 24/7 rather than waiting for a real estate agent. Buyers can view fu...

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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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NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

NEW LOOK ADELAIDE MALL ATTRACTS NATIONAL PLAYERS

A NEW look Citi Centre Arcade in Adelaide has snared a number of high profile lease deals, including McDonald's and Westpac. The facelift features a glass entrance to the arcade's Rundle Mall entry, a canopy upgrade and new public facilities. Two tenancies have been combined to create a new 177sqm site which has been leased to...

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HOTEL DEVELOPER PICKS UP NEWCASTLE SITE FOR $39M

HOTEL DEVELOPER PICKS UP NEWCASTLE SITE FOR $39M

SYDNEY-based hotel developer Iris Group has secured a Newcastle site for $39 million, which offers mixed residential, retail and commercial potential. GPT and NSW Government's transformation agency UrbanGrowth sold the 1.66-hectare property, with the majority bordered by Hunter, Newcomen, King and Perkins streets. The Joint Region...

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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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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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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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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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THE MILL SELLS FOR $110 MILLION

THE MILL SELLS FOR $110 MILLION

DEXUS Property Group (ASX: DXS) has acquired Sydney's The Mill for $110.2 million.

The property comprises of 10 refurbished historic buildings, providing 17,579sqm of warehouse-style office and retail spaces, and car parking, on a 1.9 hectare site, located in Alexandria, close to the CBD, airport and Green Square railway station.

Tenan...

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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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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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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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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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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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RINEHART OFFERS $365 MILLION FOR KIDMAN AND CO

RINEHART OFFERS $365 MILLION FOR KIDMAN AND CO

GINA Rinehart has entered into a joint venture with Shanghai CRED Real Estate to buy the giant Kidman and Co cattle property in the Kimberley, Western Australia, for $365 million.

The property has been on the market for some time and a previous bid, from a Chinese-led consortium, was knocked back by Treasurer Scott Morrison due to being &quot...

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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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