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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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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BRISBANE TECH PARK PROPERTIES SELL FOR $24.5 MILLION

BRISBANE TECH PARK PROPERTIES SELL FOR $24.5 MILLION

THREE properties in the Brisbane Technology Park at Eight Mile Plains have sold in one line for $24.5 million.

The assets were owned by Sydney-based fund manager Denison, forming part of its unlisted Denison Diversified Property Fund. The entire property fund is on the market, but the three Brisbane properties were sold as a carve-out fr...

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INVESTORS LOOK TO RETAIL PROPERTY FOR CASH RETURNS

INVESTORS LOOK TO RETAIL PROPERTY FOR CASH RETURNS

DEMAND for retail commercial property is surging Australia wide as investors seek secure returns on investments in a time of record low interest rates.

Ray White Commercial Gold Coast director Greg Bell says commercial property is becoming an attractive option for investors wanting capital growth potential and strong rental yields.

...

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SAVILLS OPENS GOLD COAST RESIDENTIAL OFFICE

SAVILLS OPENS GOLD COAST RESIDENTIAL OFFICE

THE Gold Coast's thriving property market has attracted global brand Savills to set up a residential office in the city for the first time.

Ged Rockliff (pictured), head of residential at Savills Australia, says the expansion has been a key objective for Savills and comes as part of a strategy to enter markets seen as having growth p...

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BOTANICA RISES ABOVE THE BRISBANE BOOM

BOTANICA RISES ABOVE THE BRISBANE BOOM

'EVERYBODY seems to know the Botanica building.' These are General Manager Otis Towill's proud words as he reflects on the completion of PBS Building's latest multi-award winning project, the Botanica Residences at Edmondstone Street. PBS won the competitive design and construct tender for Botanica, commissioned by the...

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BILLION DOLLAR DEAL OFFICIALLY RUNNING HOT

BILLION DOLLAR DEAL OFFICIALLY RUNNING HOT

REACTION to the planned $1 billion sale of a 'mini-city' site between the Gold Coast and Brisbane has been swift, with at least one major Australian company in the frame as a potential buyer.

Roland Evans, principal of commercial realtor Canford Property Group, says he is vetting the veracity of interest shown in the 6100ha site ...

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CHINA BUYS YARRAWONGA BUNNINGS IN RECORD DEAL

CHINA BUYS YARRAWONGA BUNNINGS IN RECORD DEAL

BUNNINGS Warehouse at Yarrawonga has been sold to Chinese investors for $11.5 million at a company record breaking yield of 5 per cent. The transaction also marks the first ever sale of a Bunnings Warehouse to mainland China, which is expected to pave the way for further Chinese investments in the Victorian retail market. CBRE's V...

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IF THERE'S A GLUT, PELLICANO IS NOT FEELING IT

IF THERE'S A GLUT, PELLICANO IS NOT FEELING IT

MELBOURNE'S Pellicano Group may be taking a massive bite at Brisbane's inner-city apartment market, but it remains unfazed by growing talk of a property glut. The company, which next year celebrates 50 years in business, expanded into Queensland in 2004 and is currently developing the $600 million South City Square in Woolloongabb...

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COAST'S BILLION-DOLLAR FIELD OF DREAMS

COAST'S BILLION-DOLLAR FIELD OF DREAMS

IT'S a massive parcel of underutilised caneland, it's as large as Manhattan Island in New York and it could be the Gold Coast's answer to Orlando, the undisputed theme park capital of the world. In an extraordinary case of neighbours uniting for a cause, more than 6100ha of caneland nestled in the burgeoning urban corridor bet...

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THE PRECIPICE THAT INSPIRED PERFECTION

THE PRECIPICE THAT INSPIRED PERFECTION

When Bio Scapes first got to work on its latest project at Teneriffe, tackling the terrain appeared to be a tall order. Director Noel Brown and his team were up against a steep cliff face, quite literally, during the 4-month construct of the Teneriffe home, resulting in limited access and budget strains. Even though the elements may n...

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BRISBANE'S ALTO & TENOR PROVES IN TUNE WITH BUYERS

BRISBANE'S ALTO & TENOR PROVES IN TUNE WITH BUYERS

MORE than 60 per cent of apartments in the Alto & Tenor development fronting Red Hill's Upper Clifton Terrace and Lower Clifton Terrace have sold.

The two art-deco-inspired buildings with dual street frontage will see with the majority of apartments enjoying uninterrupted views of Brisbane's CBD.

With demolition of existing inf...

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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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ONTHEHOUSE DIPS, BUT OPPORTUNITY STILL KNOCKS

ONTHEHOUSE DIPS, BUT OPPORTUNITY STILL KNOCKS

PROPERTY data company Onthehouse (ASX: OTH) has seen a steep decline in its full year profit after exiting its namesake website, but says its laying the bricks for something different.

Onthehouse has also shed revenue and EBITDA.

The Brisbane company took in $21.42 million in sales revenue for the full year, down 0.4 per cent, while...

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MANTRA EXPANDS GOLD COAST PORTFOLIO

MANTRA EXPANDS GOLD COAST PORTFOLIO

MANTRA Group (ASX: MTR) has acquired the management rights for Southport Central, a large permanent rental business on Queensland's Gold Coast, at an undisclosed price, it announced today. Southport Central will add 788 permanent letting apartments to Mantra Group's portfolio, which spans Australia, New Zealand, Indonesia and Hawaii ...

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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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IT SECTOR DEMANDS OFFICE SPACE IN BRISBANE

IT SECTOR DEMANDS OFFICE SPACE IN BRISBANE

BRISBANE-based IT services provider Deployus has secured a 384sqm suite on the ground floor of 725 Ann Street in Fortitude Valley to accommodate its rapidly growing operations. CBRE's Michael Skarparis and Mel Pikos, in conjunction with Chase Commercials' James Haining, negotiated the three-year lease deal for an annual rental of ...

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LOW YIELD IN GOLD COAST SUPERMARKET SALE

LOW YIELD IN GOLD COAST SUPERMARKET SALE

WOOLWORTHS-anchored Reedy Creek Village Shopping Centre has sold for $20.5 million to a local investor on an yield of 5.9 per cent. The sale was conducted by Stewart Gilchrist of Colliers International, together with Nigel Smith of Burgess Rawson and Leonie Smith of Smith Commercial. The buyer was a family, with members based both on the...

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AUSTRALIA FAIR JOINS SHOPPING CENTRE ARMS RACE

AUSTRALIA FAIR JOINS SHOPPING CENTRE ARMS RACE

AUSTRALIA Fair will undergo a multi-million renovation, hot on the heels of Robina Town Centre announcing a $160 million redevelopment and Pacific Fair relaunching earlier this year.

The three major shopping centres appear in an arms race to take the cake as the choice centre for the Gold Coast.

Works are already underway at Australia Fair...

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DWELLING FINANCE STILL ON THE UP

DWELLING FINANCE STILL ON THE UP

FINANCE for new dwellings and first home buyers remain positive in June, according to the latest Australian Bureau of Statistics Housing Finance figures, released today.

The total value of dweling commitments was $32.6 billion, up 2.3 per cent on the previous month, seasonally adjusted, while the trend estimate is up 0.4 per cent on the ...

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