City of Adelaide announces $400 million Central Market Arcade facelift

City of Adelaide announces $400 million Central Market Arcade facelift

The iconic Central Market Arcade is set to receive a $400 million redevelopment to improve one of Adelaide's most beloved retail precincts. The Central Markets are a veritable hub in the South Australian capital, attracting local foodies, tourists, and everyone in between to the centre of the city every week. The redevelopment of ...

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Scentre Group shells out $570m to bolster Westfield presence in Perth

Scentre Group shells out $570m to bolster Westfield presence in Perth

A significant change in Scentre Group's Perth portfolio means it will defer the expansion of Westfield Stirling. Garden City Booragoon in Perth will soon be rebranded as a Westfield shopping centre after Scentre Group (ASX: SCG) purchased a 50 per cent interest in the property for $570 million from the AMP Capital Diversified Pro...

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The Iconic unveils Sydney fulfilment centre upgrade

The Iconic unveils Sydney fulfilment centre upgrade

One of Australia's leading fashion e-retailers The Iconic has completed an 8,000sqm fulfilment centre expansion that will lift its inventory capacity by 1.55 million units. The retailer's Yennora 2 upgrade in South West Sydney now gives it an overall capacity of more than 3.75 million units, with an additional 20km of shelvin...

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Castle Towers reveals $180 million transformation

Castle Towers reveals $180 million transformation

A $180 million retail and lifestyle destination in Sydney's Hills District has been unveiled, promising to transform the local area. The development is part of a $1 billion masterplan in the heart of The Hills. The project aims to bring together Sydney's best providores, mini majors and globally relevant brands across fashion ...

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"Very little left for creditors": administrator hands down scathing Ralan Group report

"Very little left for creditors": administrator hands down scathing Ralan Group report

Grant Thornton has completed its review into the now in-administration Ralan Group, and thing's aren't looking very promising for the property group's creditors. Among other startling revelations, Grant Thornton has found the Sydney-based property group had been insolvent since at least June 2014. But what creditors are li...

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Frasers Property to transform Brisbane quarry into masterplanned community

Frasers Property to transform Brisbane quarry into masterplanned community

A new masterplanned residential community in Brisbane is one step closer to fruition following the acquisition of a quarry by Frasers Property. The site, nine kilometres north west of the Brisbane CBD in Keperra, was bought by Frasers for $31 million, and has an estimated gross domestic value of $234 million. Following a community eng...

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Sunland to sell northern Gold Coast development land to GemLife

Sunland to sell northern Gold Coast development land to GemLife

Property developer Sunland Group (ASX: SDG) has entered a conditional contract to sell the balance of development land at a northern Gold Coast project to GemLife for $29.7 million. The remaining land forms part of Sunland's The Heights master planned development that spans 105 hectares in Pimpama, close to the Pacific Motorway and 20...

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Promising signs McGrath might be out of the doldrums

Promising signs McGrath might be out of the doldrums

Real estate group McGrath (ASX: MEA) expects to be back in the black in FY20 with sales up year-on-year so far despite challenging market conditions. The company recorded a negative EBITDA of $10.1 million in FY20 including the exacerbation wrought by $3.7 million in onerous contracts, but AGM presentations yesterday painted a bright...

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First site announced for Gold Coast's The Spit master plan

First site announced for Gold Coast's The Spit master plan

The Queensland state government has today announced the first commercial development site to be released under The Spit Master Plan on the Gold Coast. Minister for State Development Cameron Dick said a 9,858sqm site with a marina allotment adjacent to Sunland's Mariner's Cove would be the first of several state-owned sites to...

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Dual acquisitions grow Primewest portfolio by $45 million

Dual acquisitions grow Primewest portfolio by $45 million

A Coffs Harbour shopping centre and a South Australian industrial property will grow recently-listed national property fund manager Primewest's portfolio by $45 million. As announced this morning Primewest has acquired the Moonee Market Shopping Centre in Coffs Harbour for just over $30 million. The centre, anchored by Coles, was ...

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Caltex to launch convenience retail property IPO

Caltex to launch convenience retail property IPO

Caltex Australia (ASX: CTX) has today proposed an initial public offering (IPO) for a property trust with an interest of up to 49 per cent in 250 convenience retail freehold sites. With all the appropriate approvals, the transaction is due for completion in the first half of the 2020 calendar year, with expectations the trust will receive...

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Abacus acquires North Sydney tower for $311 million

Abacus acquires North Sydney tower for $311 million

Abacus Property Group (ASX: ABP) is making a $311 million bet on the revival of North Sydney with its latest acquisition. The group has acquired 99 Walker Street, North Sydney for $311.3 million, reflecting around $16,100 per square metre of net lettable area (NLA). The property is located on the corner of Walker Street and Mount Stre...

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Industrial site sale makes Sunshine Coast history

Industrial site sale makes Sunshine Coast history

Skybound Fidelis Investment Group has made one of the largest ever industrial investments on the Sunshine Coast in Queensland with the purchase of a 7,933sqm freestanding facility for $13.1 million. The site is located within the booming Sunshine Coast Industrial Park at 87-101 Fred Chaplin Circuit in Bells Creek, which is 3km f...

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Work begins on $85 million Adelaide CBD apartment development

Work begins on $85 million Adelaide CBD apartment development

The ground has officially been broken on the Penny Place apartment development in the Adelaide CBD. The $85 million building, expected to generate 150 local construction jobs, is being developed by Flagship Property Holdings. The apartment building will be built on Angas Street near Victoria Square and will comprise 152 apartments, 50...

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Historic Sydney warehouse fetches $38 million

Historic Sydney warehouse fetches $38 million

Knight Frank agent Anthony Pirrottina says a lack of confidence in the market for off-the-plan apartments is prompting developers to look to alternative residential developments. A warehouse in Sydney's inner west that was once part of the Cyclops toy factory has sold for $38 million following a sales campaign that fetc...

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Byron's iconic Beach Hotel to change hands for $100 million

Byron's iconic Beach Hotel to change hands for $100 million

Anyone who has ever set foot in Byron Bay will know the Beach Hotel. The iconic venue is known far and wide as 'that pub at the top of the hill' and has been the crown jewel of Bay Street for more than a quarter century. Moelis Australia (ASX: MOE) has announced its intention to snap up the popular watering hole for a little o...

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Dr Jerry Schwartz buys Ralan Group resort for cheap

Dr Jerry Schwartz buys Ralan Group resort for cheap

Hotel mogul Dr Jerry Schwartz has acquired the Paradise Resort on the Gold Coast at a bargain bin price. The former owner of the hotel, Ralan Group, has been offloading its properties and sites on the cheap after it fell into administration in late July this year. Dr Schwartz, one of Australia's largest private hotel owners, will ...

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GDI Property Group to acquire $98m Perth portfolio

GDI Property Group to acquire $98m Perth portfolio

GDI Property Group (ASX: GDI) may be listed in Sydney, but Perth is the future as far as its latest investments are concerned. The company has entered into a call option to acquire a $98 million portfolio of 17 properties in the Western Australian capital, to be funded through the establishment of a new unlisted trust. The properties ...

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ASIC launches Federal Court inquiry into Worrells partner

ASIC launches Federal Court inquiry into Worrells partner

The man behind the liquidation of the Members Alliance Group of companies is in the crosshairs of the Australian Securities and Investment Commission (ASIC). As part of the Commonwealth's Serious Financial Crime Taskforce efforts, ASIC filed an application with the Federal Court seeking an inquiry into the conduct of Jason Bettles. ...

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Sunland Group's Mermaid Waters apartments receive green light

Sunland Group's Mermaid Waters apartments receive green light

A $240 million luxury lakefront apartment development in Mermaid Waters has received planning approval, allowing developers Sunland Group to commence the build. Early woks have already commenced, with two tower cranes already on site to construct the four apartment buildings. The Lanes Residences is Sunland's first apartment devel...

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