Art Series to open its ninth hotel in Perth

Art Series to open its ninth hotel in Perth

The new hotel will be the first time the brand has had a presence in WA. Art Series' foray into WA comes in the form of a $90 million hotel developed by George Atzemis at 900 Hay Street, Perth. The 27 storey hotel is dedicated to Australia's contemporary artists, with the fundamental design concept of the 250-room hotel drawin...

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Hyatt returns to Queensland with new Brisbane hotel

Hyatt returns to Queensland with new Brisbane hotel

For the first time in the company's history Hyatt will break ground in Queensland's capital. The international hotel chain has announced plans for a hotel in South City Square, which is set to open in 2023. Hyatt Place Brisbane Square is expected to feature 170 rooms, a rooftop pool and bar, a 24-hour grab-and-go food market, ...

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The Star's fourth Gold Coast hotel to be fast-tracked

The Star's fourth Gold Coast hotel to be fast-tracked

As far as ambitious companies go not many can keep up with The Star Entertainment Group. The company has just announced that it will fast-track the development of a fourth hotel in the multi-billion-dollar transformation of The Star Gold Coast in Broadbeach. The fourth hotel will be 215 metres tall, boast a five-star rating, and is ex...

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McGrath veteran makes his return to the real estate giant

McGrath veteran makes his return to the real estate giant

McGrath (ASX: MEA) has acquired the business of an ex-veteran of McGrath for $2 million, representing the return of John McManus (pictured) back into his old company. McGrath has acquired McManus' real estate business, currently trading as LJ Hooker Willoughby/Artarmon, as part of the giant's expansion in the lower north shore of S...

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Millinium to give the Waltons Building a new lease of life

Millinium to give the Waltons Building a new lease of life

The Waltons Building in Fortitude Valley may be sold to Millinium Capital Managers for between $25 million and $50 million. The property, located at 240 Brunswick Street and 11 Overells Lane, will be used for a mixed used property development. Known as the Waltons Building, the property comprises several interconnected buildings above...

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South Melbourne childcare centre sells for $10 million

South Melbourne childcare centre sells for $10 million

A childcare centre in South Melbourne leased to Guardian Early Leaning has sold for $10.25 million. According to CBRE the sale of the centre marks the first of its kind to be sold within 1.5km of the Melbourne CBD in the last five years. Featuring 360-degree views of the city skyline the centre on Tope Street provides a passing income...

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99 Bikes rides into Bowen Hills mega-premises

99 Bikes rides into Bowen Hills mega-premises

Bike retailer 99 Bikes has purchased two properties in one line in Bowen Hills, Brisbane, for $5,550,000. The retailer purchased the two properties located at 62-66 Abbotsford Road with plans to combine the two sites into one brand new store. The new location will replace the company's stores in Fortitude Valley and Windsor in add...

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Family owned Green Valley shopping centre sold for $17 million

Family owned Green Valley shopping centre sold for $17 million

The Green Valley Shopping Centre has sold for $17.3 million after being owned by the same family for half a century. Located on Green Valley Road, the 2,820sqm retail centre featuring 20 shops was sold to Sydney eastern suburbs family for a sharp yield of close to 6 per cent. Peter Vines from CBRE who managed the competitive expressio...

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Saudi company buys 200,000ha of Australian farmland

Saudi company buys 200,000ha of Australian farmland

The Nicoletti family in Western Australia has sold 200,000ha of farmland to the Saudi Agricultural and Livestock Investment Company (SALIC) in a deal the ABC reports to be worth around $60 million. The buyer, which is a joint stock company owned by Saudi Arabia's Public Investment Fund, received approval for the transaction last ...

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CSR divests Viridian Glass facility for $66 million

CSR divests Viridian Glass facility for $66 million

A Viridian Glass logistics facility in Ingleburn has been sold by parent CSR Limited for $66.3 million. Previously owned by CSR and leased to Viridian Glass until 2028 the facility spans more than 34,000sqm and is just 14km from the Moorebank Intermodal Terminal. CBRE's Jason Edge, who negotiated the sale process on behalf of CSR ...

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Dexus completes total acquisition of Sydney's MLC Centre

Dexus completes total acquisition of Sydney's MLC Centre

One of Sydney's most iconic business towers has come under the complete ownership of Dexus (ASX: DXS) today. The listed real estate group today announced the settlement of the acquisition of the remaining 50 per cent of the MLC Centre it did not already own for $800 million. Dexus and Dexus Wholesale Property Fund now own 25 per c...

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Charter Hall buys Rockdale Plaza for $142M

Charter Hall buys Rockdale Plaza for $142M

Capping off its hunt for a high-performing convenience asset, Charter Hall Retail REIT (ASX: CQR) has entered an agreement to buy south Sydney's Rockdale Plaza for $142 million. Charter Hall Retail will undertake a fully underwritten $150 million institutional placement to fund the acquisition and will also complete a non-underwritten...

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AMP sells outer Sydney retail centre for $140M

AMP sells outer Sydney retail centre for $140M

A retail centre 35km west of the Sydney CBD that houses anchor tenants including Bunnings and The Good Guys has been sold for $140 million to property investment firm Ashe Morgan. AMP Capital Diversified Property Fund sold the Crossroads Homemaker Centre in a deal that was co-marketed by Stonebridge Property Group and CBRE. CBRE ...

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Abacus sells Liverpool Plaza for $46 million

Abacus sells Liverpool Plaza for $46 million

Abacus Property Group (ASX: ABP) has sold long-term asset Liverpool Plaza to an undisclosed local group for $46 million. The buyer ran an unsolicited campaign to acquire the property which was first purchased by Abacus in August 2004. Abacus says that although the company was not initially trying to actively sell Liverpool Plaza, it f...

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Cann Group secures $11M Mildura site for new cannabis greenhouse

Cann Group secures $11M Mildura site for new cannabis greenhouse

Leading cannabis producer and researcher Cann Group (ASX: CAN) has acquired a $10.75 million property in Mildura, Victoria to construct a greenhouse for the cultivation of cannabis. The company will grow, cultivate, and produce medicinal cannabis at the Mildura site to service both the Australian and international medicinal cannabis marke...

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Stockland sells off another $143 million of retail assets

Stockland sells off another $143 million of retail assets

Stockland's strategy to divest $400 million of assets in 24 months has hit another milestone today with the announcement that the property manager has sold another $143 million in retail assets. The company has sold its interest in the Stockland Cleaveland shopping centre in Brisbane and the Toowong retail and commercial centre in Bri...

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Onterran calls in voluntary administrators after Couran Cove debacle

Onterran calls in voluntary administrators after Couran Cove debacle

It was supposed to be a cash cow that would bring Onterran (ASX: OTR) a $95 million boost through development, but Couran Cove Island Resort on Stradbroke Island quickly turned into a white elephant for the Brisbane-based property company whose shares have been suspended from trading since February, 2017.  Citing a lack of capital to...

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Could Gold Coast ocean park be the next "jewel" of Queensland tourism?

Could Gold Coast ocean park be the next "jewel" of Queensland tourism?

The Queensland state government has unveiled the blueprint for a park at The Spit on the Gold Coast which would rival London's Hyde Park in size, in what has been described as a once-in-a-lifetime opportunity.  The project aims to enhance the green space north of Sea World, and is expected to be linked by a light rail station in ...

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Kaufland announces its first Australian distribution centre in Melbourne

Kaufland announces its first Australian distribution centre in Melbourne

German supermarket giant Kaufland will open its first dedicated Australian distribution centre at the Merrifield Business Park in Melbourne's north. Kaufland will construct a 110,000 sqm purpose-built distribution centre to service their Australian stores on a 28-hectare site in Merrifield. The facility will include an extensive t...

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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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