Hold your horses: recovery for Australia's residential property market a while off

Hold your horses: recovery for Australia's residential property market a while off

It might seem like Australia's residential market downturn is never ending. And while we appear to be nearing the bottom of the market, experts don't want you to get your hopes up. According to BIS Oxford Economics meaningful recovery for Australia's residential property market remains a while off. While there are signs of...

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Charter Hall buys Telstra HQ for $830 million

Charter Hall buys Telstra HQ for $830 million

The global headquarters of telco Telstra (ASX: TLS) in Melbourne has been sold for $830 million to property group Charter Hall (ASX: CHC). The building was purchased off market by a partnership involving Charter Hall, the Charter Hall Prime Office Fund (CPOF) and the Public Sector Investment Board. Telstra's global HQ stands at 24...

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Villa World enters deal for takeover from AVID

Villa World enters deal for takeover from AVID

Property company Villa World (ASX: VLW) is now one step closer to handing over the keys to new owners, after suitor AVID Property Group completed due diligence for its proposed $293.5 million takeover of the Gold Coast group. Villa World's board slated its intention in May to unanimously recommend the proposal to shareholders, and now...

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Australian Unity Office Fund receives improved takeover offer

Australian Unity Office Fund receives improved takeover offer

A consortium of two major Sydney-based property companies has put some icing on the cake in its bid for Australian Unity Office Fund (ASX: AOF), a holder of nine metropolitan and CBD office properties with a market cap of close to $487 million. On 4 June, a group associated with Abacus Property Group (ASX: ABP) and Charter Hall Group...

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Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell pours $300M from sale of Sydney tower into acquisition cash pool

Cromwell Property Group (ASX: CMW) has exchanged contracts to sell its 50 per cent stake in Sydney's Northpoint Tower to a Hong Kong-based company for $300 million. The real estate manager will offload its remaining interest in Northpoint to Early Light International, which initially acquired 50 per cent of the asset from Redefine Pro...

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