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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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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DEMAND SURGES AFTER FIRST HOME BUYERS' GRANT BOOST

DEMAND SURGES AFTER FIRST HOME BUYERS' GRANT BOOST

FIRST home buyers have moved quickly to take advantage of the Queensland Government's $5,000 increase to the First Home Owners' Grant to $20,000, says Colliers International.

Since the boost was implemented on 1 July, Colliers has experienced an increase of 74 per cent in enquiry and a 23 per cent increase in sales from first home buy...

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GRAND CHANCELLOR MAKES WAY FOR COAST'S FIRST NOVOTEL

GRAND CHANCELLOR MAKES WAY FOR COAST'S FIRST NOVOTEL

THE new owner of Hotel Grand Chancellor in Surfers Paradise has struck a deal to rebrand the property under the Novotel moniker after appointing Accor Hotels as manager.

It will be the first time Novotel has established a presence on the Gold Coast and follows the $80 million acquisition of the prime asset by Challenger Investment Partne...

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TOWER SELLS OUT AMID FEARS OF BRISBANE APARTMENT GLUT

TOWER SELLS OUT AMID FEARS OF BRISBANE APARTMENT GLUT

ALL 147 apartments at the $86 million Trafalgar Lane at Woolloongabba have settled following the tower's completion in July, and all the apartments have been leased within 60 days of settlement.

Amid fears of an apartment glut in Brisbane, the project, developed by Melbourne-based Pellicano, has demonstrated demand remains in the cit...

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QINGJIAN GROUP TAKES OVER SURFERS PARADISE DEVELOPMENT

QINGJIAN GROUP TAKES OVER SURFERS PARADISE DEVELOPMENT

GLOBAL development and construction giant Qingjian Group has taken control of the $107 million Northcliffe Residences beachfront project in Surfers Paradise, laying the foundation for its push into the Australian market.

The 64-year-old Chinese conglomerate, known as CNQC and ranked in China's Top 500 enterprises for 12 consecutive years,...

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ROBINA GROUP 'THE LOGICAL BUYER' IN $5 MILLION DEAL

ROBINA GROUP 'THE LOGICAL BUYER' IN $5 MILLION DEAL

THE Robina Group has re-invested in its own stomping ground, after acquiring the Robina Professional Centre for circa $5 million. In the heart of the commercial precinct, the centre has now become a significant site for the Robina Group as it seeks to cater to an increased demand for office space from tenants relocating to the area. G...

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LUXURY APARTMENT BUYERS POCKET $200,000 GAIN IN A YEAR

LUXURY APARTMENT BUYERS POCKET $200,000 GAIN IN A YEAR

THE trade in luxury apartments has strengthened in Brisbane over the past year with average capital gains of about 14 per cent for properties worth $1 million or more, according to Colliers International.

This is despite the latest data showing a broader slowdown in the inner-city apartment market which has led to some projects being mothball...

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SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER

SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER

PROLIFIC Brisbane-based developer Mosaic Property Group has moved into the Sunshine Coast market as a result of booming investment in the region.

Its first purchase is a $1.375 million Kings Beach site on Canberra Terrace. Mosaic has lodged a development application for a 31-apartment complex on the site, which is perched high on a north...

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$300M LIGHT RAIL WINDFALL FOR LANDOWNERS

$300M LIGHT RAIL WINDFALL FOR LANDOWNERS

THE Gold Coast light rail network has boosted the value of properties within a short walking distance of a tram stop by $300 million, or almost quarter of the total $1.3 billion cost of the first stage of the project, says a university researcher. While private landowners are the primary beneficiaries of this increase, the researcher esti...

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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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DEVELOPER SCORES SOUTHBANK SITE FOR $80M TOWER

DEVELOPER SCORES SOUTHBANK SITE FOR $80M TOWER

A HONG KONG developer has scooped one of the last major permit-approved sites within Melbourne's Crown Casino precinct for $8.8 million. The Southbank location has been earmarked for an $80 million 38-level residential tower designed by local architecture firm Fender Katsalidis. Located at 18 Moray Street, the sale set a new bench...

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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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CHINCHILLA SHOPPING CENTRE SELLS FOR $20 MILLION

CHINCHILLA SHOPPING CENTRE SELLS FOR $20 MILLION

A MELBOURNE-based private investor has bought the Woolworths Chinchilla shopping centre in Queensland's Western Downs region in a deal valued at $20,055,000.

Michael Hedger and Joe Tynan of CBRE's Queensland Retail Investments team negotiated the sale on behalf of a Brisbane-based private owner.

The fully leased centre has a...

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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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DEVELOPERS MISS THE POINT AS APARTMENT BUST 'INEVITABLE'

DEVELOPERS MISS THE POINT AS APARTMENT BUST 'INEVITABLE'

A BUST in the inner-city apartment market is a foregone conclusion, according to BIS Shrapnel economist Frank Gelber, and he puts some of the blame on a blinkered approach by developers. Gelber, addressing a BIS Shrapnel economic briefing in Brisbane, also says while the economy may have held up relatively well following the mining downtu...

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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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