Landmark lease ushers in new era for Gold Coast startups

Landmark lease ushers in new era for Gold Coast startups

The Gold Coast Innovation Hub (GCIH) has moved into Robina's newly refurbished The PC, marking the city's largest lease deal in the past 12 months. The PC is owned by master developer Robina Group and fully tenanted following its latest deal with the startup incubator. GCIH has secured the remaining 1,822sqm of The PC office s...

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Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland Group (ASX: SDG) has added a 3.26-hectare site in Kenmore to its portfolio, a $13.1 million acquisition that the company says will boost its presence within a high-growth area. The development site encompasses several addresses on Moggill Road and Wyndarra Street and has been approved for 96 terrace homes with an estimated end val...

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Aqualand Group takes major stake in McGrath

Aqualand Group takes major stake in McGrath

McGrath Limited (ASX: MEA) has sold a 15 per cent stake in the company to property giants Aqualand Group that gives the company a $10.7 million injection of fresh cash. Aqualand has already acquired an 8.7 per cent stake in McGrath and will take a further 6.3 per cent stake if the deal is approved by McGrath shareholders. The ASX list...

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SCA Property Group sells four shopping centres into new $58m unlisted fund

SCA Property Group sells four shopping centres into new $58m unlisted fund

On the back of SCA Property Group's (ASX: SCP) successful unlisted retail fund strategy called SURF the company has launched the third iteration of SURF valued at $58 million. SURF 3 is currently raising funds to help acquire a portfolio of shopping centres on the east coast to form the new unlisted retail fund. SCA is looking for...

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Investa enters into $3.14b takeover agreement with Blackstone

Investa enters into $3.14b takeover agreement with Blackstone

Investa Office Fund (ASX: IOF) has confirmed it has entered into a takeover agreement worth $3.14 billion with US private equity group Blackstone.  After receiving the takeover proposal in early May 2018, the group, which operates some of the most high profile office buildings in Australia, has agreed to Blackstone's terms. U...

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Brisbane's QueensPlaza to undergo $36m revamp

Brisbane's QueensPlaza to undergo $36m revamp

Vicinity Centres, the owner of Brisbane inner city shopping destination QueensPlaza, announced on Friday that its redevelopment application for the centre has been approved by Brisbane City Council. Through a $36 million development, the company plans to elevate QueensPlaza's precinct and shopping capabilities to cater for a growing d...

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Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall Retail REIT (ASX: CQR) has teamed up with Charter Hall Prime Retail Fund to form a new joint venture to acquire a prominent Victorian shopping centre. The joint venture will allow Charter Hall to enter an unconditional contract to acquire buy Gateway Plaza in Leopold for a total consideration of $117 million. Charter Hall...

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Vicinity to sell $1bn of assets to enhance portfolio

Vicinity to sell $1bn of assets to enhance portfolio

Listed property developer Vicinity Centres (ASX: VCX) will sell off $1 billion of its assets to reinvest the money in more value-accretive opportunities. The group will sell off sub regional and neighbourhood centres to focus on new investments which it calls "destinations" and "entertainment experiences". Grant Ke...

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Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld Travel (ASX: HLO) has acquired a controlling stake in Perth-based Asia Escape Holidays (AEH) for $2.88 million, in a move to boost competitiveness in the travel package deal and impulse buyer markets. The Sydney-based travel agent now owns 60 per cent of Keygate Holdings, the parent company of AEH, and maintains the option to i...

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Clarence Property in the zone with $31.25m acquisition

Clarence Property in the zone with $31.25m acquisition

The Zone Shopping Centre at Underwood has changed hands for $31.25 million, marking the fourth South East Queensland-based acquisition for Clarence Property's Westlawn Property Trust (WPT) over the past six months. In the last half year, WPT has purchased other commercial and retail assets in Hamilton, Spring Hill and Northgate for a ...

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Childcare centre sells for record $21m as confidence in sector is restored

Childcare centre sells for record $21m as confidence in sector is restored

A childcare centre in Artarmon has sold for a record $21 million, which marks the largest sale of a single tenanted childcare property in the country. The sale of the three-storey centre at 6 Clarendon Street was negotiated by CBRE and attracted a yield of 6 per cent. The property is currently tenanted by Affinity Education Group and ...

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Building a brilliant career: inside one woman's dream to create a new city

Building a brilliant career: inside one woman's dream to create a new city

'What is your dream?' A question often asked and answered in similar ways; I want to buy a house, travel overseas or find the perfect job. Ask Raynuha Sinnathamby the same question, the answer goes a little bit further. "We have aspirations to build a new city," she says. As managing director of the Springfie...

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After 60 years, legacy property in Melbourne CBD sells for $95m

After 60 years, legacy property in Melbourne CBD sells for $95m

One of the largest office buildings on St Kilda Road in Melbourne has changed hands for the first time in six decades. A subsidiary of Abacus Property Group and Wing Tai Holdings bought the property known as VACC House, an eight-level building at 464 St Kilda Road, for $95.38 million. The building includes more than 13,800sqm of offic...

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Commercial market strong as demand for Sydney office space burgeons

Commercial market strong as demand for Sydney office space burgeons

The office market in Sydney is showing no signs of slowing down with big business driving an increased demand for workspaces in the New South Wales capital. According to Colliers International, Sydney recorded a 32 per cent increase for 3000sqm workspaces from the fourth quarter of 2017 to the first quarter of 2018, representing a 63 per ...

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Melbourne beats Sydney as the top Australian city for investment

Melbourne beats Sydney as the top Australian city for investment

Melbourne has been named the number two city in the APAC region for investment for commercial property investors, coming second only to Toyko. According to CBRE's 2018 Asia Pacific Investor Intention Survey the Victorian capital moved up from eight place in 2017 to second place this year. Melbourne toppled Sydney which fell from f...

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CBD squeeze piquing hotelier interest in regional Australia

CBD squeeze piquing hotelier interest in regional Australia

A trend is growing in the Australian hotel market as investors forgo expensive assets in capital cities to favour a more regional approach. CBRE Hotels' Andrew Jackson says buyers are becoming more attracted to the diversity of regional assets, especially as they are being edged out of capitals due to expensive pricing and lack of ass...

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Co-working spaces and retail here to stay, say property analysts

Co-working spaces and retail here to stay, say property analysts

The future of Australia's property market looks bright with co-working spaces here to stay and retail set to change dramatically according to analysts. CBRE's annual Australian Market Outlook conference held last week revealed optimism about the future of Australia's property market. One of the key outtakes at the event sh...

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Southport to receive lavish $550m entertainment precinct

Southport to receive lavish $550m entertainment precinct

A $550 million retail, dining, entertainment and residential precinct is set to transform Southport on the Gold Coast. Dubbed the 'Queen Street Village', construction is due to commence following the Commonwealth Games in April. The precinct will be built on a 3.2 hectare site bound by Queen, Nerang and Little High streets in ...

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Eureka Group acquires Tasmanian assets for $18 million

Eureka Group acquires Tasmanian assets for $18 million

Eureka Group Holdings (ASX: EGH) has acquired five rental villages throughout Tasmania in a joint venture deal with a group of private investors. The Gold Coast-based retirement village operator acquired the seniors' rental assets in Hobart, Launceston and Devonport from Ingenia for a total of $18 million. The acquisition adds 254...

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Sydney investor pays $30m for Ipswich shopping centre

Sydney investor pays $30m for Ipswich shopping centre

An established neighbourhood shopping centre in East Ipswich has sold to a Sydney investor for $30 million in a package deal including multiple adjoining properties.

Located in Goodna, the St Ives Shopping Centre plus the six adjacent properties were transacted by Peter Tyson and Jon Tyson of Savills, in conjunction with Shane Sax of Pac...

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