Joint venture success buoys Villa World profit

Joint venture success buoys Villa World profit

Villa World (ASX: VLW) is on track to deliver its full-year forecast profit growth as the company today announced a $17.3 million statutory profit after tax. The property developer upgraded its guidance range to $17-18 million in December following a new joint venture project at Wollert in Victoria has since contributed $5.2 million net p...

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Changes to Australian property market means investors need to 'get smart' to make gains

Changes to Australian property market means investors need to 'get smart' to make gains

Far-reaching changes in Australia's property markets are set to bring an imminent end to a long run of extraordinary returns, requiring investors to become savvier and more sophisticated in choosing where to place their money to capture the best returns, new analysis from BIS Oxford Economics shows. After five years where investors ha...

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Abacus buys CBD fringe properties for $142 million

Abacus buys CBD fringe properties for $142 million

Abacus Property Group has bought into the CBD fringe of Australia's two biggest capital cities, acquiring assets for a combined $142.35 million. Abacus acquired the two properties located at Abbotsford in Melbourne and Alexandria in Sydney for $93.5 million and $48.85 million respectively. The Abbotsford properly is fully tenanted...

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Gold Coast office vacancy declines on market demand

Gold Coast office vacancy declines on market demand

Healthy demand for office space on the Gold Coast has seen vacancy rates fall over the final half of 2017.

The Property Council of Australia's latest Office Market Report, released today, shows that over the last six months of 2017, Gold Coast office vacancy fell from 11.3 to 10.6 per cent off the back of positive market demand and buildi...

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Crown sells off $370m worth of Las Vegas assets

Crown sells off $370m worth of Las Vegas assets

Crown Resorts (ASX: CWN) has sold off 34.6-acres of vacant land in Las Vegas, in a deal worth AU$370 million. It is reported that Crown had once intended to build a casino on the site, located on Las Vegas Boulevard, which it has now sold to a subsidiary of Wynn Resorts Limited. After accounting for minority interests, Crown will pock...

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