Gold Coast shopping centre sold for $20 million

Gold Coast shopping centre sold for $20 million

A shopping centre owned by Sunland Group (ASX: SDG) in Mermaid Waters, Gold Coast, has sold for $20 million. The Lakeview Retail Centre has been acquired by Bao Li Investments, with settlement to occur in August 2019 so long as certain legal requirements are fulfilled. The sale of the property, which is located on Bermuda Street ...

Read More...
AP Eagers sells Brisbane property for $61m

AP Eagers sells Brisbane property for $61m

AP Eagers (ASX: APE) is busily gearing up for its proposed merger with Automotive Holdings Group (ASX: AHG) with the sale of one of its properties near the Brisbane River. The car dealer sold its property at 99 Breakfast Creek Road, Newstead to the Seymour Group for $61 million. AP Eagers will continue to operate its business from the...

Read More...
Cromwell bulks up for a $1 billion spending spree

Cromwell bulks up for a $1 billion spending spree

Cromwell Property Group (ASX: CMW) has announced a master plan to pursue more than $1 billion worth of acquisitions across Australia and Europe in the near future. The property and development giant says it has identified several acquisition opportunities across Australian and Europe as a part of its 'Invest to Manage' strategy. ...

Read More...
Mirvac to transform Boral quarry into major Melbourne housing estate

Mirvac to transform Boral quarry into major Melbourne housing estate

Boral has tapped Mirvac to transform its Melbourne quarry into a $1 billion suburb. Mirvac will manage the urban development of the Boral-owned 171-hectare site in Wantirna South, Victoria, over a multi-decade period, including a proposed new housing community and substantial new parklands. If Mirvac receives the necessary approvals t...

Read More...
GPT successfully raises $800M for Sydney purchases

GPT successfully raises $800M for Sydney purchases

Investors are showing bullish signs on property in the Sydney CBD, with GPT Group (ASX: GPT) raising $800 million in 24 hours to acquire stakes in commercial and retail sites in the city centre. Yesterday the company announced it would issue approximately 131.8 million stapled securities at the placement price of $6.07, representing a 3.9...

Read More...
GPT to fund Sydney CBD buyout through $800M capital raising

GPT to fund Sydney CBD buyout through $800M capital raising

GPT Group (ASX: GPT) is poised to acquire more than 100,000sqm of prime Sydney office space after it completes a sizeable $800 million institutional placement. GPT aims to take a 25 per cent stake in the Darling Park 1 and 2 office complexes plus Cockle Bay Wharf dining and retail precinct in the CBD. Total consideration for the CBD a...

Read More...
Losses deepen for McGrath but can new CFO turn the tide?

Losses deepen for McGrath but can new CFO turn the tide?

A new CFO will soon fill the void left by the departure of Glynn Wright at listed property company McGrath (ASX: MEA) in March, with Howard Herman set to start in the role on 24 June. But Herman, who was recently CFO at NASDAQ-listed Australian apparel business Naked Brand Group, will have a tough job on this hands as the c...

Read More...
Australian Property Institute backs LandMark White

Australian Property Institute backs LandMark White

The property industry's professional organisation has come out in support of LandMark White (ASX: LMW) following the property valuer's back-to-back data breaches. The Australian Property Institute (API) is providing support to LMW and other members of the organisation affected by cybercrimes. API CEO Amelia Hodge (pictured) sa...

Read More...
Construction entrepreneur thinks outside the box

Construction entrepreneur thinks outside the box

On the back of projects ranging from office fit-outs to schools to nightclubs, Chapcon Design & Construct is growing at a swift pace as revenue doubles each year. Founded by carpenter Nick Chapman in 2011, the group's portfolio of projects has been buoyed by word-of-mouth and strengthened by its track record and willingness to tak...

Read More...
Onterran creditors approve deed of company arrangement

Onterran creditors approve deed of company arrangement

Following its failed attempt to transform the Couran Cove Island Resort on Stradbroke Island Onterran's (ASX: OTR) creditors have approved a deed of company arrangement (DOCA). At a second creditor's meeting yesterday the administrators of Onterran passed a resolution that the company should execute a DOCA. David Clout and Pat...

Read More...
McGrath acquires Sydney real estate business

McGrath acquires Sydney real estate business

Listed real estate group McGrath (ASX: MEA) has acquired Sydney Sotheby's International Realty - CBD and Pyrmont for $1.6 million. Owned previously by Richard Shalhoub (pictured), the company is a sales agent in the NSW capital's CBD and northern CBD harbourfront markets. The deal will be settled in cash by the beginning of Ju...

Read More...
Mirvac splashes $333.5M on QVM apartments

Mirvac splashes $333.5M on QVM apartments

Property group Mirvac (ASX: MGR) is making strides in the build-to-rent apartment space after entering an agreement with developer PDG to acquire 490 completed units in the Munro development at Melbourne's Queen Victoria Market (QVM). The move will cost Mirvac $333.5 million, with the agreement subject to conditions such as&...

Read More...
How UKO is empowering inner-city renters with its "co-living" model

How UKO is empowering inner-city renters with its "co-living" model

Co-working spaces have transformed the way many of us work and operate. They are the spaces that underpin many great Australian entrepreneurs and startups. UKO hopes to achieve a semblance of this culture, but instead for the residential market with its unique and Australian first "co-living" buildings. Developed by serial p...

Read More...
Get creative landlords: CBD retail supply hits new high

Get creative landlords: CBD retail supply hits new high

Real estate agency CBRE says retailers must harness creativity and innovation if they are to increase their wallet share, while landlords need to recalibrate their offerings in response to changing market conditions. The company's Q1 Retail MarketView found 65,000sqm of new CBD retail supply is slated nationally in 2019, representing ...

Read More...
QT Adelaide receives State Government green light

QT Adelaide receives State Government green light

QT is now set to build its 11th hotel following approval form the South Australian State Commission Assessment Panel (SCAP). The building, to be constructed by a joint venture of Adelaide's Axiom (ASX: AXI) and Event Hospitality and Entertainment (ASX: EVT), was announced in February 2019. Described by QT as luxurious and quirky, ...

Read More...
Barua Group drops $9 million on neighbouring Clovelly homes

Barua Group drops $9 million on neighbouring Clovelly homes

Sydney-based developer Barua Group has purchased two neighbouring homes in the Sydney suburb of Clovelly for $9 million. The acquisition is a record for the area, and Barua Group intends to develop seven three-bedroom apartments on the land. The properties, which have a 12 metre development height limit, reflect a record individual un...

Read More...
Scentre sells 50% stake in Sydney shopping centre for $575m

Scentre sells 50% stake in Sydney shopping centre for $575m

Scentre Group (ASX: SCG) has today announced it will be selling off half its stake in Sydney's Westfield Burwood shopping centre in order to pay down debt and pursue strategic goals. The deal means Perth-based Perron Group will become a 50 per cent joint venture partner after paying $575 million for its stake, representing a 4.1 per c...

Read More...
First stage complete for $100m Gold Coast marina upgrade

First stage complete for $100m Gold Coast marina upgrade

Boat Works' northern superyacht precinct development on the Gold Coast has its new 'dry marina' now operational as the first stage of a $100 million upgrade due for completion in October this year.  Works for the Longhurst family's ambitious venture in Coomera only started seven months ago and will effectively double ...

Read More...
The rise of boutique hotels shows no sign of slowing down

The rise of boutique hotels shows no sign of slowing down

Blame it on millennials, blame it on Instagram, or just blame it on the slow march of time but face it, giant hotel chains are out; boutique hotels are in. Over the last few years boutique hotels have made a serious business case for their existence. Struggling with the competition of Airbnb, a service that promised to offer 'besp...

Read More...
Villa World board greenlights takeover by AVID

Villa World board greenlights takeover by AVID

The board of Gold Coast property mainstay Villa World (ASX: VLW) has recommended a revised takeover proposal by AVID Property Group, which now values the company at around $293.5 million. In March, Villa World first received the unsolicited takeover offer which valued the company at $280 million. After consideration on the revised pro...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 1487
Mudgeeraba QLD 4213

LoginTell a FriendSign Up to Newsletter