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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Coles and Australian Venue Co extend leases with HPI

Coles and Australian Venue Co extend leases with HPI

Executives at Hotel Property Investments (ASX: HPI) will be in good spirits today after a lease extension was reached with a major tenant for its pubs and taverns across Queensland. Queensland Venue Company (QVC), a joint venture between Coles Group (ASX: COL) and Australian Venue Co, has agreed to extend 28 leases with HPI that...

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What will happen once Kaufland is gone for good?

What will happen once Kaufland is gone for good?

Kaufland was meant to be the heroic European supermarket to land in Australia and give its competitors a bit of a shake up. Instead, like a German high school exchange student, the 'hypermarket' announced its departure before we even got to know it properly. The company announced its departure from the Australian market on Wed...

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Mulpha gets green light for $203m Sydney InterContinental revamp

Mulpha gets green light for $203m Sydney InterContinental revamp

A $203 million proposal to redevelop Sydney's InterContinental Hotel has been approved by the state Independent Planning Commission despite opposition from the City of Sydney Council. Mulpha Australia plans extensions to the building such as a grand ballroom and a new plant room enclosure, as well as internal upgrades to her...

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Primewest splashes $65m on WA commercial properties

Primewest splashes $65m on WA commercial properties

Primewest (ASX: PWG) continues its active run since listing on the ASX in November with the purchase of two commercial properties in Western Australia for $65.1 million. The group has acquired a high-profile office building at 66 Kings Park Road in West Perth for $33.1 million, as well as the Mandurah Greenfields Shopping Centre...

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Brisbane-based investors acquire tightly held Capalaba retail asset for $8.85 million

Brisbane-based investors acquire tightly held Capalaba retail asset for $8.85 million

A retail centre in the South East Queensland area of Capalaba has been acquired by Centurion Investment Management for $8.5 million. The centre has two tenants, Rebel Sport and Repco, and Ray White Commercial Bayside director Nathan Moore says the Redland Bay Road asset is in the heart of one of SE Queensland's most tightly held large...

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Makeover for Brisbane industrial site post $26m sale

Makeover for Brisbane industrial site post $26m sale

A 16.22 hectare industrial property in the Brisbane suburb of Runcorn is set to be transformed into a mixed-use precinct after being acquired for $26 million. The site, previously owned by global engineering business Bradken, is presently zoned as an industrial block but is uniquely positioned and surrounded by residential dwellings and o...

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