Convenience culture to shift shopping centre mix

Convenience culture to shift shopping centre mix

"Whilst the retail landscape is changing, neighbourhood shopping centres are relatively insulated from the overarching threat of e-commerce," says Nick Willis of CBRE.  The shopping centres of the future will increasingly be blended with other types of property, according to a recent report from real estate agency CBRE...

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LandMark White in trading halt following fallout from data breach

LandMark White in trading halt following fallout from data breach

Property valuer LandMark White (ASX: LMW) has gone into a trading halt pending a statement regarding the fallout from a data breach that occurred on 4 February 2019. The company said at the time that a data set containing property valuation and some personal contact information was disclosed because of a vulnerability in one of LMW's ...

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Home-building robot company enters deal with Brickworks

Home-building robot company enters deal with Brickworks

The company known for building a home structure with a robot has today reached a breakthrough agreement with a subsidiary of Brickworks (ASX: BKW), with expectations for a pilot program to kick off in Western Australia. Within months of its partnership with Caterpillar (NYSE: CAT) falling through, Perth-based Fastbrick Robotics (ASX: FBR)...

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Shopping centres lift SCA Property income

Shopping centres lift SCA Property income

Commercial landlord Shopping Centres Australasia Property Group ('SCA', ASX: SCP) has notched a 17.5 per cent year-on-year rise in funds from operations (FFO) in the first half, while like-for-like sales performance remained steady. Statutory net profit after tax (NPAT) was down 43.5 per cent at $39.9 million, but this was mainly ...

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New home building in Australia facing "toughest year in almost a decade"

New home building in Australia facing "toughest year in almost a decade"

Master Builders Australia has forecast a challenging year ahead for the housing market as slowing mortgage credit and political uncertainty take their toll on activity. The group's chief economist Shane Garrett (pictured below) expects this to be the "toughest year in almost a decade" with declining house prices and fal...

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Office market vacancies to tighten in 2019

Office market vacancies to tighten in 2019

Colliers International expects vacancy rates to squeeze even lower in major office markets in the years ahead, driven by commercial tenants competing for limited space and a rise in demand for large or contiguous office space. Colliers' managing director for office leasing, Simon Hunt, says office vacancy forecasts for key market...

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The year ahead in property is filled with challenges and changes

The year ahead in property is filled with challenges and changes

The tremors of political instability, a tough economy, and the rise of e-commerce are the guiding forces behind what looks like a challenging 2019 for the Australian property market. These conditions, which bubbled under the surface in 2018, are set to make and break investments this year, but could provide some clarity for trends we'...

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The Agency yet to turn a profit after doubling revenue

The Agency yet to turn a profit after doubling revenue

A solid pace of real estate agent recruitments and acquisitions has led to a near doubling of sales revenue for The Agency (ASX:AU1), but one-off set up costs continue to impact the tearaway group which posted a marginally higher bottom-line loss for FY18. The Agency, formed two years ago by a handful of McGrath's (ASX:MEA) top agents...

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SCA Property Group falls victim to tough retail conditions

SCA Property Group falls victim to tough retail conditions

In what marks yet another sign that the Australian retail environment continues to struggle, commercial landlord Shopping Centres Australasia Property Group (ASX: SCP) has reported a 45.2 percent profit fall, down to $175.2 million. The retail trust has blamed its lacklustre result on stunted property value growth compared to its prior ye...

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Gen Y the new boomers for housing market, says BIS

Gen Y the new boomers for housing market, says BIS

Generation Y may have been Generation Boom for the apartment market over the past 15 years, but according to new research they're more likely to be leading a house-and-land surge over the next decade.

BIS Oxford Economics has forecast big changes in the residential demands of ageing Gen Y buyers will lead to slower growth for the apa...

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Construction heading for 'worst crash since GFC'

Construction heading for 'worst crash since GFC'

After years stimulating the economy, the construction industry could become a major drag on activity as it faces the worst downturn since the GFC, says BIS Oxford Economics. The economic analyst and forecaster predicts the latest downturn is likely to be driven by a 50 per cent slump in the apartment market over the next two years. Ac...

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Co-working spaces and retail here to stay, say property analysts

Co-working spaces and retail here to stay, say property analysts

The future of Australia's property market looks bright with co-working spaces here to stay and retail set to change dramatically according to analysts. CBRE's annual Australian Market Outlook conference held last week revealed optimism about the future of Australia's property market. One of the key outtakes at the event sh...

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Changes to Australian property market means investors need to 'get smart' to make gains

Changes to Australian property market means investors need to 'get smart' to make gains

Far-reaching changes in Australia's property markets are set to bring an imminent end to a long run of extraordinary returns, requiring investors to become savvier and more sophisticated in choosing where to place their money to capture the best returns, new analysis from BIS Oxford Economics shows. After five years where investors ha...

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ADELAIDE HOLDEN FACTORY SITE BOUGHT BY MELBOURNE DEVELOPER

ADELAIDE HOLDEN FACTORY SITE BOUGHT BY MELBOURNE DEVELOPER

THE now former General Motors Holden factory site in Adelaide's north has been acquired by Melbourne based property developer Pelligra. The acquisition by Pelligra will see the recently vacated manufacturing plant transformed into a business hub in the Adelaide suburb of Elizabeth. The announcement of Pelligra as the buyer follows...

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STAKE IN ADELAIDE SHOPPING CENTRE SOLD FOR $42 MILLION

STAKE IN ADELAIDE SHOPPING CENTRE SOLD FOR $42 MILLION

A 50 PER cent stake in Adelaide's Churchill North Shopping Centre has been sold for $42 million by Axiom Properties Limited (ASX: AXI). The stake was sold by the ASX listed property manager to Adelaide-based Inheritance Capital Asset Management. The sale price of $42.5 million will result in Axiom receiving approximately $17.5 mil...

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ADELAIDE'S ICONIC MEMORIAL DRIVE TO RECEIVE A $10 MILLION MAKEOVER

ADELAIDE'S ICONIC MEMORIAL DRIVE TO RECEIVE A $10 MILLION MAKEOVER

ADELAIDE'S premier tennis precinct is set to receive a $9.8 million redevelopment with plans backed by the Adelaide City Council. The project, set to commence in early 2018, will bring further life to the rejuvenated Riverbank Precinct. The $9.8 million Stage 1 of the project includes a new outdoor show court and two new match cou...

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OLD ROYAL ADELAIDE HOSPITAL BILLION DOLLAR REDEVELOPMENT FALLS THROUGH

OLD ROYAL ADELAIDE HOSPITAL BILLION DOLLAR REDEVELOPMENT FALLS THROUGH

THE site housing the old Royal Adelaide Hospital will be managed by the South Australian Government after a billion-dollar redevelopment plan fell through. The government will take control of the redevelopment of the seven-hectare site, meaning all elements of the project will be in the hands of the public. In 2016, the Government ann...

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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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ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which is a record off-the-plan purchase in the South Australian capital.

The apartment, designed by Brown Falconer, is the amalgamation of two apartments on sub-penthouse level 34 in 'The Adelaidean' building on Frome Street...

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PEREGRINE CORP'S ADELAIDE DEVELOPMENT GIVEN THE GREEN LIGHT

PEREGRINE CORP'S ADELAIDE DEVELOPMENT GIVEN THE GREEN LIGHT

PEREGRINE Corporation's $50 million proposal to redevelop its Norwood Parade headquarters in Adelaide has received development approval with work to begin almost immediately.

Approval for the seven-level development on the corner of Portrush Road and Norwood Parade was granted by South Australia Trade Minister Martin Hamilton-Smith.

Pl...

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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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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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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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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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PROSPECT ROAD LIVES UP TO ITS NAME IN ADELAIDE MARKET

PROSPECT ROAD LIVES UP TO ITS NAME IN ADELAIDE MARKET

PROSPECT Road is becoming a boon for Adelaide's commercial market, with buyers flocking to the area. Strong buyer demand has fuelled a number of transactions in the area, including the sale of an 836sqm commercial property at 113 Prospect Road for $1.7 million. A private developer scooped the single-level building at auction, whic...

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SEVEN FIELDS SELLS THREE VINEYARDS IN SOUTH AUSTRALIA

SEVEN FIELDS SELLS THREE VINEYARDS IN SOUTH AUSTRALIA

KINGSTON Estate Wines has acquired the 252ha New Residence vineyard in South Australia's Riverland region for an undisclosed amount in a deal negotiated by Colliers International's Tim Altschwager and Nick Dean on behalf of Seven Fields. New Residence Vineyard is just outside Loxton (pictured), with about 36.4% of the vineyard plante...

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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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ADELAIDE LANDMARK'S REVIVAL AS $275M TOWERS

ADELAIDE LANDMARK'S REVIVAL AS $275M TOWERS

THE former Trims Family Clothing store will be converted into $275 million mixed-use twin towers, kicking off a wave of luxury redevelopment for Adelaide. Developer Karidis Corporation will relaunch the landmark building located at 322 King William Street as Three-Two-Two. The project will comprise two 30-level glass towers with a mix...

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