QUEST CONTINUES INTERNATIONAL EXPANSION WITH UK DEAL

QUEST CONTINUES INTERNATIONAL EXPANSION WITH UK DEAL

QUEST Apartment Hotels has announced it will develop its first property outside of the Australasian market in the UK city of Liverpool as part of its global expansion.

The $17 million development of Quest Liverpool City Centre will see an existing commercial office building transformed into a 100-room apartment hotel building when it opens fo...

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FORMER QLD PREMIER SCOOPS UP BRISBANE SHOPPING CENTRE FOR $15.6 MIL

FORMER QLD PREMIER SCOOPS UP BRISBANE SHOPPING CENTRE FOR $15.6 MIL

FORMER Premier of Queensland, Campbell Newman, has acquired a prominent retail convenience centre in Brisbane suburb Redland Bay. The property was sold for $15.6 million to Newman, Director of Arcana Capital, following an expressions of interest campaign which attracted multiple offers. The Rededge Redland Bay Shopping Centre incorpor...

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BRISBANE SHOPPING CENTRE SALE BREAKS QUEENSLAND RECORD

BRISBANE SHOPPING CENTRE SALE BREAKS QUEENSLAND RECORD

A SHOPPING centre in the Brisbane suburb of Warner has been sold for $78.35 million in the largest neighbourhood shopping centre deal ever recorded in Queensland.

MarketPlace Warner has been sold to an AMP Capital-managed private client mandate as part of the deal which was negotiated by JLL's Jacob Swan and Sam Hatcher.

Th...

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ADELAIDE'S ICONIC MEMORIAL DRIVE TO RECEIVE A $10 MILLION MAKEOVER

ADELAIDE'S ICONIC MEMORIAL DRIVE TO RECEIVE A $10 MILLION MAKEOVER

ADELAIDE'S premier tennis precinct is set to receive a $9.8 million redevelopment with plans backed by the Adelaide City Council. The project, set to commence in early 2018, will bring further life to the rejuvenated Riverbank Precinct. The $9.8 million Stage 1 of the project includes a new outdoor show court and two new match cou...

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PROMINENT MELBOURNE BUSINESS PARK BUILDING SELLS FOR $18.08 MILLION

PROMINENT MELBOURNE BUSINESS PARK BUILDING SELLS FOR $18.08 MILLION

THE headquarters of Melbourne's Country Fire Authority (CFA) has sold for $18.08 million following a competitive expressions-of-interest campaign. The site, in Burwood East, was sold to the private arm of Teo Tong Lim, the group managing director of Singapore-based Tong Eng Group. The group recently acquired 5 Queens Road in Melbo...

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OLD ROYAL ADELAIDE HOSPITAL BILLION DOLLAR REDEVELOPMENT FALLS THROUGH

OLD ROYAL ADELAIDE HOSPITAL BILLION DOLLAR REDEVELOPMENT FALLS THROUGH

THE site housing the old Royal Adelaide Hospital will be managed by the South Australian Government after a billion-dollar redevelopment plan fell through. The government will take control of the redevelopment of the seven-hectare site, meaning all elements of the project will be in the hands of the public. In 2016, the Government ann...

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SUNLAND ACQUIRES CHAPEL HILL SITE FOR $5.9 MILLION

SUNLAND ACQUIRES CHAPEL HILL SITE FOR $5.9 MILLION

SUNLAND Group (ASX: SDG) has acquired a 2.29 hectare site in the Brisbane suburb of Chapel Hill, seven kilometres west of the CBD, for almost $6 million. The site on Kirkdale Road is positioned between two idyllic parklands and has a natural waterway running through it. The land has existing development approval for 33 homes, with nea...

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WESTFIELD COOMERA $470M SHOPPING COMPLEX SET TO OPEN IN 2018

WESTFIELD COOMERA $470M SHOPPING COMPLEX SET TO OPEN IN 2018

CONSTRUCTION of the $470 million Westfield Coomera development is underway on the northern Gold Coast with the massive shopping centre expected to open in late 2018.

Retail landlord Scentre Group (ASX: SCG) and co-owner QIC Global Real Estate have begun work on the development which will feature 140 speciality stores in the area includin...

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GOLD COAST BUILDING INDUSTRY SET FOR 'MAJOR SHAKEUP', INSOLVENCY FIRM SAYS

GOLD COAST BUILDING INDUSTRY SET FOR 'MAJOR SHAKEUP', INSOLVENCY FIRM SAYS

MORE than 84 Gold Coast construction businesses are at high risk of insolvency with more than 3.7 per cent of the total industry facing financial failure within 12 months, according to new data by a specialist accounting firm.

SV Partners, which specialises in insolvencies, says the Gold Coast construction industry could be in for a majo...

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LANDMARK SYDNEY OFFICE TOWER SELLS FOR $252M

LANDMARK SYDNEY OFFICE TOWER SELLS FOR $252M

ONE of Sydney's most iconic officer towers has been sold to a Singapore-based real estate group for $252 million.

The 24-level commercial officer tower at 66 Goulburn Street, above Sydney's Masonic Centre, was sold by GDI Property Group.

The prominent corner building offers a total net lettable area of 23,124 square meters and is l...

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ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like within the century. Research conducted by IKEA Australia in its People & Planet Positive Report shows that the headcount is likely to reach 70 million in the next hundred years, but only a fraction of the current population ...

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RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

THE Australian building market is set to decline by 17 per cent over the next three years led by a collapse in residential starts, according to BIS Oxford Economics.

National building commencements peaked in 2015/16 at $107.3 billion, up by 22 per cent in real terms from the end of the resources investment boom in 2012-13, but is expected...

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SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

THE long-neglected and much maligned Festival Plaza in Adelaide has received a hero in the form of long-time neighbour: SkyCity. SkyCity Entertainment today announced it will commit to a $330 million expansion of the Adelaide Casino, revamping the Festival Plaza precinct. The expansion will include a boutique hotel, signature restaura...

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SCA PROPERTY GROUP BUYS THIRD GOLD COAST SHOPPING CENTRE FOR $46 MILLION

SCA PROPERTY GROUP BUYS THIRD GOLD COAST SHOPPING CENTRE FOR $46 MILLION

SCA Property Group has acquired the Worongary Town Centre for $46.3 million, bringing the total number of Gold Coast centres owned by the group to three. The sale, brokered by Peter Tyson and Jon Tyson of Savills, reflected a yield of six per cent and generated over 200 buyer enquiries. Featuring 42 retail, medical and office tenancie...

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QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two years after it was last acquired.

A private local investor purchased the standalone office building from United Investment Management (UIM) which was acquired by UIM in 2015.

The office, located at 17-21 Hardner Road, is securel...

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ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which is a record off-the-plan purchase in the South Australian capital.

The apartment, designed by Brown Falconer, is the amalgamation of two apartments on sub-penthouse level 34 in 'The Adelaidean' building on Frome Street...

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CHINESE INVESTORS SNAP UP BRIGHTON HOTEL FOR $15.8 MILLION

CHINESE INVESTORS SNAP UP BRIGHTON HOTEL FOR $15.8 MILLION

BRIGHTON'S Marine Hotel has sold for $15.8 million, following a heated sales campaign proving that Chinese appetite within Melbourne's real estate hotspots is still strong.

The Marine Hotel, located in the bayside suburb of Brighton, sold to a mainland Chinese investor and boasts 20 years of additional options remaining on the current...

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VILLA WORLD'S VICTORIAN EXPANSION CONTINUES WITH $44 MILLION MELBOURNE LAND ACQUISITIONS

VILLA WORLD'S VICTORIAN EXPANSION CONTINUES WITH $44 MILLION MELBOURNE LAND ACQUISITIONS

PROPERTY developers Villa World (ASX: VLW) has expanded its footprint in Victoria with $44 million in land acquisitions in Melbourne's north-west growth corridor.

The acquisitions are part of Villa World's "Precinct Structure Plans" for the Plumpton region which will create more than 500 lots targeted at first home buyers an...

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CHINESE DEVELOPER SCORES EXPANSIVE MELBOURNE LANDHOLDING FOR $36 MILLION

CHINESE DEVELOPER SCORES EXPANSIVE MELBOURNE LANDHOLDING FOR $36 MILLION

ONE of Mornington Peninsula's largest individual landholdings has been acquired by a Chinese developer for $36.2 million.

The Morning Star Estate in Victoria is an expansive 63-hectare holding which includes accommodation, a cellar door and a restaurant, and it has uninterrupted views from the Bellarine Peninsula to Melbourne.

The esta...

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CASA BRISBANE AIRPORT HEADQUARTERS SOLD FOR $23 MILLION

CASA BRISBANE AIRPORT HEADQUARTERS SOLD FOR $23 MILLION

The Civil Aviation Safety Authority (CASA) national headquarters at the Brisbane Airport has been bought by The Patella Group for $23 million, following a hotly contested sales campaign.

Located in the Skygate precinct and surrounded by retail and food options including DFO, Dan Murphy's and Woolworths, the building is still fully leased ...

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