Domain pays staff salaries in shares to overcome cost troubles

Domain pays staff salaries in shares to overcome cost troubles

While businesses all over the country are standing down staff to keep costs at bay during the Covid-19 crisis, real estate listings company Domain (ASX: DHG) is taking a different approach. The Nine Entertainment-owned group is offering staff the option to either cut back their working hours or receive part of their salary in share rights...

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$1.5 billion Collins Street project approved

$1.5 billion Collins Street project approved

A major $1.5 billion office tower project on Collins Street in Melbourne has received development approval, putting the build on track for completion by late 2022. The office development, to be built at 555 Collins Street, will comprise 84,000 square metres of office space and 2,300 square metres of retail space across two stages. Uni...

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Development Application lodged for $450m Toowong Town Centre in Brisbane

Development Application lodged for $450m Toowong Town Centre in Brisbane

A major mixed use development has been proposed for construction opposite Toowong Village, which has been a mainstay commercial hub in Brisbane's inner western suburbs since 1986. State Development Corporation and White & Partners Sydney have lodged a Development Application (DA) with the Brisbane City Council to build the pr...

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Master Builders Australia survey shows orders have "fallen off a cliff"

Master Builders Australia survey shows orders have "fallen off a cliff"

A survey of builders and tradies around the country has found new work could run out in the next few months if orders don't pick up. Master Builders Australia CEO Denita Wawn describes the results of a recent Covid-19 impacts survey as "alarming", with 73 per cent of respondents reporting substantial fall in f...

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Cbus to build $300 million CBD office building for SA Government

Cbus to build $300 million CBD office building for SA Government

Cbus Property will deliver a $300 million 20-storey CBD office building in Adelaide for the South Australian Government. The build will be managed in partnership by the SA Government and Cbus Property, and the building will house the South Australian Department of Planning, Transport and Infrastructure (DPTI) as an anchor tenant. Cbus...

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Real estate agents on notice for super advice

Real estate agents on notice for super advice

Australia's corporate regulator has promised to take action after real estate agents were found asking hard-done-by tenants to access their superannuation. In a letter to the real estate industry the Australian Securities and Investment Commission (ASIC) said media reports and social media commentary outlining this conduct is of &quot...

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Retailers and landlords unite with leasing code of conduct

Retailers and landlords unite with leasing code of conduct

While Australia's banks will be given a $90 billion funding facility from the RBA and the country's Federal and State governments are offering unprecedented stimulus packages, there is still no clear-cut solution as to who foots the bill when retailers struggle to pay rent. Thousands of retail outlets nationwide have closed in rec...

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WOTSO to benefit from BlackWall rent deferrals

WOTSO to benefit from BlackWall rent deferrals

BlackWall Property Trust (ASX: BWR) has announced it will be offering rent abatements or deferrals to tenants suffering due to the Covid-19 crisis, with co-working provider WOTSO WorkSpace set to be one of the key beneficiaries. The trust has put forward a strategy to give its tenants the best chance of survival while limiting the im...

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How luxury property filmmaker Goldeneye Media went global without going viral

How luxury property filmmaker Goldeneye Media went global without going viral

In an era where we are used to having intimate access to the lifestyles of the rich and the famous via social media, a little privacy goes a long way. The public demands to know intimate details of their favourite celebrities' beauty routines, social lives, outfits and more.  But, aside from glimpses when publications get a p...

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Record high for Adelaide industrial property sales

Record high for Adelaide industrial property sales

Property sales for industrial assets worth more than $5 million surged 73 per cent last year in Adelaide, with almost half the value coming from two transactions in particular. A report from Knight Frank attributes the record $452.56 million figure to a record low cash rate coupled with the abolition of stamp duty on commercial property. ...

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Brisbane shopping centre sold for $84.5m

Brisbane shopping centre sold for $84.5m

The Great Western Super Centre in the Brisbane suburb of Keperra has been acquired for $84.5 million. The sale marks the largest retail buy to date for new owners Consolidated Properties Group and CVS Lane Capital Partners, bringing the value of the pair's retail portfolio to $485 million. According to Consolidated Properties Grou...

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The Agency records third loss in a row

The Agency records third loss in a row

Despite completing a $10.5 million acquisition of real estate group Top Level at the beginning of 2019,The Agency (ASX: AU1) has recorded yet another half yearly loss. While the 1H20 loss was a slight improvement on its 2018 result of $1.95 million and its 2017 figure of $2 million, the real estate company is still $1.67 million in the re...

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Nine Kaufland properties hit the market

Nine Kaufland properties hit the market

A portfolio of properties owned by Kaufland have come onto the market just over a month after the German hypermarket chain announced its shock exit from Australia. Colliers International has been appointed to sell the nine retail, industrial, and mixed-use sites across Victoria, Queensland and South Australia as part of the company's ...

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Brisbane pub The Elephant Hotel sold for $20m

Brisbane pub The Elephant Hotel sold for $20m

Iconic Brisbane pub The Elephant Hotel has been acquired by a Sydney-based hospitality operator for $20 million. Independent pub group Tilley and Wills Hotels will add The Elephant to its portfolio of Sydney-based assets including the Verandah Bar, the Clovelley Hotel and the Greenwood Hotel. CBRE's Paul Fraser says the sale of Th...

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Profits more than triple as Centuria snaps up property

Profits more than triple as Centuria snaps up property

Property investment manager Centuria (ASX: CNI) witnessed significant growth in 1H20 on the back of major acquisitions. The company saw its figures rise across the board, with revenue up 54 per cent to $80 million and statutory NPAT up 251 per cent to $78 million. Centuria enters the second half of FY20 with $7.3 billion in assets und...

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GPT Group profit down 40 per cent

GPT Group profit down 40 per cent

It was always going to be a tough task for GPT Group (ASX: GPT) to repeat the $910.7 million property revaluation boost achieved in 2018, with Sydney office properties alone adding an extra $500 million to asset values. So while the company announced today that it managed to notch a $342.2 million net valuation gain last year, a year-on-y...

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Charter Hall REIT earnings up after acquisition-heavy half

Charter Hall REIT earnings up after acquisition-heavy half

A heavy acquisition strategy has paid off for Charter Hall's real estate investment trust (REIT) during 1H20, bagging the company a 206.5 per cent increase to its first half profits. During the half Charter Hall Long WALE REIT (ASX: CLW) announced $1.4 billion of new property acquisitions across a number of sectors and in partnership ...

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Proptech startup NurtureCloud gets $3m backing from Ray White

Proptech startup NurtureCloud gets $3m backing from Ray White

A Sydney property-tech startup with global potential has received a $3 million investment from Australia's largest real estate agency Ray White. Founded three years ago by serial internet entrepreneur Adam Rigby (pictured left), NurtureCloud helps agents spend less time on administrative tasks like call logging, diary a...

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Primewest to float $288m commercial property IPO

Primewest to float $288m commercial property IPO

Property fund manager Primewest has proposed a fresh initial public offering (IPO) worth almost three times as much as its own $100 million IPO in November.  The Perth-based company founded by John Bond, Jim Litis and David Schwartz (pictured left to right) has been a transactional powerhouse over the past three months, and appe...

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Centuria launches $174 million takeover bid for New Zealand real estate fund manager

Centuria launches $174 million takeover bid for New Zealand real estate fund manager

Investment manager Centuria Capital Group (ASX: CNI) has launched a bid to take over one of New Zealand's leading real estate funds management platforms Augusta Capital Limited for $174 million. If the takeover is successful Centuria would integrate Augusta into its own platform and grow assets under management (AUM) by $1.9 billion t...

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