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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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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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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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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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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LOW INTEREST RATES PUSH SYDNEY OFFICE YIELDS TO PRE-GFC LOWS

LOW INTEREST RATES PUSH SYDNEY OFFICE YIELDS TO PRE-GFC LOWS

OFFICE yields have dropped to a pre-GFC low in the Syndey CBD and could fall further new CBRE research shows. CBRE's latest Market Flash shows that Sydney CBD core prime office yields reached a nine-year low of 5.2% in Q3, while secondary yields are 20 basis points off their pre-GFC low of 5.9%. CBRE's senior director, Sydney CBD...

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DOUGHNUT TIME ROLLS INTO MANLY

DOUGHNUT TIME ROLLS INTO MANLY

DOUGHNUT Time continues its Australian domination, after rolling out another store in Sydney. The gourmet doughnut chain has inked a five-year lease on its signature hole-in-the-wall style store at The Corso in Manly. The property, comprising 40sqm retail space and 24sqm basement area, was negotiated at a rental of $125,000 net per an...

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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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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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MCGRATH UPBEAT AS PROFIT HITS TARGET

MCGRATH UPBEAT AS PROFIT HITS TARGET

REAL estate group McGrath Ltd (ASX:MEA) capped off a tough full year as a listed company by delivering on its revised profit forecasts issued earlier this year.

The Sydney-based company posted a net profit of $8.4 million in FY16, up 20 per cent from a year earlier, but short of the $10 million profit it had planned in its prospectus at the e...

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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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RECORD SQUARE METRE PRICE AT MANLY APARTMENTS

RECORD SQUARE METRE PRICE AT MANLY APARTMENTS

A $9.5 MILLION sale at CostaFox Developments' Luxury Bower project in Manly is the highest price per square metre paid for a Bower Street address. The record selling apartment, purchased by a local buyer, features three bedrooms and three bathrooms over 281sqm, plus a 31sqm balcony. At $33,807/sqm, the price beats the previous reco...

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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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DOUBLE BAY DEVELOPER APPOINTED

DOUBLE BAY DEVELOPER APPOINTED

ADELAIDE'S Axiom Properties (ASX: AXI) has been appointed to deliver a major mixed-use project in the eastern Sydney suburb of Double Bay.

The Council-owned Cross Street carpark will be transformed through a joint venture between Axiom and construction and development company Built.

The $200 million mixed-use property will include a 10...

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HOUSE PRICES WILL SOON 'BOTTOM OUT'

HOUSE PRICES WILL SOON 'BOTTOM OUT'

WE'RE at the end of the property boom, according to BIS Shrapnel's latest report.

Rising supply and weakening investor demand will play an increasing role in the price outlook of Australia's capital cities over the next three years.

Falling interest rates won't be enough to drive growth, says BIS Shrapnel, with median house...

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LENDLEASE AWARDED $300M SYDNEY OFFICE PROJECT

LENDLEASE AWARDED $300M SYDNEY OFFICE PROJECT

LENDLEASE Building has been appointed as head contractor to deliver a landmark development in Sydney. Investa Property Group and Gwynvill Group are behind the $300 million project located on the corners of Macquarie Street, Martin Place and Phillip Street. 60 Martin Place will comprise more than 40,000sqm of lettable space across 33 l...

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CAIRNS COURTHOUSE HITS MARKET IN LANTERN'S SALE BLITZ

CAIRNS COURTHOUSE HITS MARKET IN LANTERN'S SALE BLITZ

THE Cairns Courthouse Hotel is the latest in a string of divestments for Lantern Hotel Group (ASX:LTN) as part of the Sydney-based operator's transformation plan. Lantern sold GPO Hotel in Brisbane for $5.25 million and Bowral Hotel in NSW for $6.35 million last month to focus on metropolitan Sydney assets. Five non-core propertie...

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LIVERPOOL POISED TO BECOME SYDNEY'S NEXT CBD

LIVERPOOL POISED TO BECOME SYDNEY'S NEXT CBD

WITH Parramatta almost bursting at the seams, Liverpool has been hailed as the next commercial centre of south-west Sydney, according to CBRE. The real estate company says the region is in a state of transformation, with booming population growth and strong development pipeline pushing Parramatta close to capacity. CBRE Western Sydney...

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GELATISSIMO HEADS WEST

GELATISSIMO HEADS WEST

SYDNEY-based artisan gelato specialist Gelatissimo has made its first foray to the west coast of Australia, after launching an outlet in Perth. CBRE agent Craig Olde and Fremantle Property Services agent Anthony Van Der Weilen negotiated the 30sqm store on the corner of Market Street and South Terrace. Gelatissimo subleased the site f...

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MCGRATH TO TACKLE MILLERS POINT IN $200M TENDER

MCGRATH TO TACKLE MILLERS POINT IN $200M TENDER

MCGRATH Estate Agents, a division of McGrath Limited (ASX: MEA), has won the rights to oversee a new round of sales at Millers Point with the estimated total value expected to crack $200 million. The real estate group secured the tender released by Property NSW to market the sale of 175 residences in the Millers Point area, including loft...

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HOSPITALITY FAMILY PICKS UP TRINITY BAR FOR $8.5M

HOSPITALITY FAMILY PICKS UP TRINITY BAR FOR $8.5M

SURRY Hills institution Trinity Bar has changed hands in an $8.5 million deal. The hotel dates back to 1882 with its traditional pub meals and range of craft beer becoming a favourite among locals under Ray Reilly's stewardship for the past 18 years. The long-term owner of the Rag & Famish in North Sydney Pete Calligeros is ex...

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FIRST-HOME BUYERS NOW BEING HIT BY CREDIT SQUEEZE

FIRST-HOME BUYERS NOW BEING HIT BY CREDIT SQUEEZE

TOUGHER bank lending rules for investors could be closing more first home buyers out of the property market, according to Mortgage Choice. The lending broker has revealed that investors, in particular, are struggling with the new rules introduced by the banking industry at the end of 2014 to de-risk its exposure to a possible property bub...

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UNIT SETTLEMENTS A TICKING TIMEBOMB, SAYS REPORT

UNIT SETTLEMENTS A TICKING TIMEBOMB, SAYS REPORT

APARTMENT settlements, and the ongoing strength of the national construction boom, are about to be tested over the next 24 months, and according to one forecaster the picture isn't pretty. The CoreLogic RP Data Property Pulse reveals that sales records will have to be smashed in some markets to avoid a massive glut of supply. The ...

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LOCAL BUYERS SNAP UP LATEST STAGE OF THE ROCHEDALE ESTATES

LOCAL BUYERS SNAP UP LATEST STAGE OF THE ROCHEDALE ESTATES

BUYERS have snapped up more than half of the fifth stage at Aveo's (ASX:AOG) $380 million masterplanned community in Brisbane's south. The Sydney-based property group has sold 68 lots out of 120 in The Grange at The Rochedale Estates, bringing total sales to more than 600 since the development launched in 2011. The Rochedale E...

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SYDNEY STACKS UP IN GLOBAL PROPERTY VALUES

SYDNEY STACKS UP IN GLOBAL PROPERTY VALUES

SYDNEY has recorded the fourth largest increase in residential property value over the last decade in a list of world cities. The NSW capital recorded an increase of 137 per cent in capital value growth during the past 10 years, according to Savills 12 Cities Report. Mumbai came in first at 184 per cent, followed by Shanghai at 173 pe...

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JETS SWIMWEAR DIVES INTO BRISBANE

JETS SWIMWEAR DIVES INTO BRISBANE

LUXURY brand JETS Swimwear has dived deeper into Queensland with a second concept store opening in Brisbane. The new location at Westfield Chermside follows a retail opening in Noosa earlier this year, allowing customers to browse the brand's full range of swimwear, resortwear and activewear. It forms part of the Sydney-based comp...

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WATPAC LOCKS DOWN RYDE GARDEN CONTRACT

WATPAC LOCKS DOWN RYDE GARDEN CONTRACT

WATPAC (ASX:WTP) has finalised its $264 million contract with Country Garden to deliver the Ryde Garden residential development in Sydney. Ryde Garden in North Ryde will feature 830 residential apartments with basement parking for 730 cars, retail space, public park, rooftop gardens and communal pool. The Brisbane-based contracting gr...

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BLUE SKY'S $1 BILLION JOINT VENTURE WITH GOLDMAN SACHS

BLUE SKY'S $1 BILLION JOINT VENTURE WITH GOLDMAN SACHS

BLUE Sky Private Real Estate and global investment firm Goldman Sachs have teamed up to form a $1 billion student accommodation joint venture. The two companies aim to build a portfolio of 5,000 to 10,000 purpose built student accommodation beds across Australia and New Zealand, in what they describe as a heavily undersupplied market rela...

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