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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Two properties sold at record square metre rate for Melbourne precinct

Two properties sold at record square metre rate for Melbourne precinct

Despite reports of falling property prices in Melbourne, a competitive sales campaign recently completed for two neighbouring CBD buildings reflects strong fundamentals according to an agent at CBRE.  The two properties at the junction of of the legal precinct and the city's retail core were owned for 40 years by the Lewenbe...

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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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Charter Hall to buy Campbellfield Plaza for $74m

Charter Hall to buy Campbellfield Plaza for $74m

A Sydney-based real estate investment trust (REIT) is using the proceeds from two recent regional property sales to buy a strategic shopping centre in Melbourne's north. Charter Hall Retail REIT (ASX: CQR) has executed an unconditional contract to buy Campbellfield Plaza in northern Melbourne for $74 million, with the transaction expe...

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'It takes time to turn this business around', McGrath CEO says

'It takes time to turn this business around', McGrath CEO says

Collapsing sales volumes and the departure of key sales agents and franchisees have hit real estate group McGrath Limited (ASX: MEA) which has booked a full year loss of $63 million on the back of a revenue drop of 23 percent over the previous year. At the company AGM on Friday, McGrath CEO Geoff Lucas revealed the serious issues facing t...

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Optimus breaks ground on luxury apartment tower in Broadbeach

Optimus breaks ground on luxury apartment tower in Broadbeach

There's certainly no shortage of luxury accommodation in Broadbeach, and with Optimus Developments' new tower the Gold Coast hub will grow even further. Melbourne-based property developers Optimus Developments broke ground yesterday on its latest $65 million luxury apartment building, 31BB, in the heart of Broadbeach. Directly...

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Ingenia to acquire $23.25 million Maroochydore holiday park

Ingenia to acquire $23.25 million Maroochydore holiday park

Ingenia (ASX: INA) is set to build its Queensland holiday park portfolio with its latest acquisition of the Rivershore Resort in Maroochydore. Worth $23.25 million, Ingenia expects the sale to be settled this month which will further expand its presence in the Sunshine Coast region. Located on 4 hectares, the Rivershore Resort is a ca...

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Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

It started with free seminars and "boot camps" teaching people how to get rich quick. Buy a house with no need for a deposit, quit your job and you'll be set for life, participants were told.  But what We Buy Houses Pty Ltd and its sole director Rick Otton (pictured) were claiming really was too good to be tru...

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Blackstone buys up industrial Sydney properties in Smeaton Grange

Blackstone buys up industrial Sydney properties in Smeaton Grange

One of the world's leading real estate investors has acquired four properties on the outskirts of Sydney for $50 million, representing one of just a few industrial transactions in the city's outer south west in recent months. Blackstone secured the properties spanning a total warehouse area of approximately 29,500sqm in an of...

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Boardriders to sell former Billabong HQ in Burleigh Heads

Boardriders to sell former Billabong HQ in Burleigh Heads

After acquiring Billabong earlier in the year, Boardriders is set to sell the surf brand's iconic head-quarters and lease it back to maintain occupation. The California-based Boardriders acquired Billabong for around $208 million in April, and now owns a number of Australian surf-brands. The sale of the Burleigh Heads based Billab...

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The Star announces $2 billion masterplan to become Australia's largest resort

The Star announces $2 billion masterplan to become Australia's largest resort

Just a few months ago The Star Entertainment Group (ASX: SGR) broke ground on its new $400 million Gold Coast tower. Now, the company has announced an even loftier goal that has the potential to make The Star Gold Coast Australia's largest resort. Their announcement today is a planned investment of more than $2 billion to improve ...

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McGrath says sluggish property market to blame for earnings woes

McGrath says sluggish property market to blame for earnings woes

A slowing property market and dwindling auction numbers have put pressure on McGrath (ASX: MEA) during the first quarter. The real estate giant says auction clearance rates and the number of properties taken to auction are at levels "well below the previous year". Meanwhile, there has been an increase in stock on the market ...

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Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel Property Group has purchased a homemaker centre just north of Newcastle for a cool $23.3 million. Anchored by Bunnings, the centre is in a high exposure location with Pacific Highway frontage at Heatherbrae. This facility will be the third addition to the Sentinel Homemaker Trust, which also includes City West Plaza at Sunshi...

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Commercial Property Investment - An Investor's Guide

Commercial Property Investment - An Investor's Guide

Improving your cash flow is the key to financial freedom when investing. Mark Ribarsky of Wise Real Estate Advice looks at commercial property, and the pros and cons you need to know. Financial freedom is the long-term vision for every property investor, but this goal is rarely achieved when investing in residential property. Why? Cas...

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Catch Group acquires new warehouse in Melbourne

Catch Group acquires new warehouse in Melbourne

Major e-commerce player Catch Group has announced a new warehouse and chairman as it positions for growth. Leading online retailer Catch Group is on track to doubling its capacity after securing a new 22,000 sqm warehouse close to its current facilities in Truganina, Melbourne. In a release, the company says that with additional mezza...

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Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Update: Since this story was published, APDC has advised that Bankwest confirmed its consent to pay the special distribution and the September quarterly distribution.  After already dropping its price to get the Asia Pacific Data Centre Group (APDC) saga over and done with, former majority shareholder 360 Capital may end up...

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Ponzi property sold at Sanctuary Cove but delays cut price by $1m

Ponzi property sold at Sanctuary Cove but delays cut price by $1m

The fire sale of a Gold Coast property linked to an international Ponzi scandal was completed on Friday with the final bid of $3.9 million made by an existing Sanctuary Cove resident.  The auction for the property on 1019-1020 Edgecliff Drive, Sanctuary Cove was the final sale in Queensland aimed at liquidating funds from Pearl Group...

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Sanctuary Cove property from Indian Ponzi scheme to go under the hammer tomorrow

Sanctuary Cove property from Indian Ponzi scheme to go under the hammer tomorrow

Of the 58.5 million Indians who were swindled in a Ponzi scheme of gargantuan proportions led by Nirmal Bhangoo Singh and the Pearl Group, more than 46 million are still owed money and some of those funds remain tied up in Australian property.  According to documents given to the Securities and Exchange Board of India (SEBI) in 2014,...

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Centuria snaps up $521m in office properties

Centuria snaps up $521m in office properties

Real estate trust Centuria Metropolitan REIT (ASX: CMA) has entered unconditional agreements to acquire $520.9 million worth of office properties in Melbourne, Brisbane and Sydney from Texan outfit Hines Global. CMA will spend $500.9 million on the four properties with a $20 million contribution from affiliated entity Centuria Capital Gro...

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LandMark White offers $10.3m for Taylor Byrne

LandMark White offers $10.3m for Taylor Byrne

LandMark White (ASX: LMW) continues its consolidation push in property valuation with a $10.3 million cash and scrip takeover bid for Taylor Byrne, a Brisbane-based company with 25 offices nationwide. The move comes just over a year after the Sydney-headquartered group acquired another rival MVS for $35 million. LMW has offered Taylor...

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