Ford distribution centre to be built in Merrifield, Dexus acquires site

Ford distribution centre to be built in Merrifield, Dexus acquires site

Ford Australia has announced today it will open a new automotive parts distribution centre at Merrifield Business Park in Melbourne in late 2021, joining a network of businesses including Dulux, D'Orsogna and Steritech. Developers MAB and GPC have confirmed the company signed a 10-year pre-lease for a 51,480m2 facility,...

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World's "greenest residential building" proposed for Brisbane

World's "greenest residential building" proposed for Brisbane

Dense landscaping with more than a thousand trees is planned for a green residential development dubbed "The Urban Forest" in South Brisbane. Aria Property Group and Koichi Takada Architects have lodged a development application for the building they claim will be the "greenest residential building in the world". ...

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Chinese developer to acquire Mariners Cove Marina for $28 million

Chinese developer to acquire Mariners Cove Marina for $28 million

The company behind the $1 billion 'Jewel' development in Surfers Paradise has acquired another slice of the Gold Coast from local developer Sunland Group (ASX: SDG). Chinese developer Ridong has acquired Mariners Cove Marina, the retail and marina precinct located on the Southport Spit near Marina Mirage and Palazzo Versace, for $...

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Trio of neighbouring properties in West Melbourne sold for $60m

Trio of neighbouring properties in West Melbourne sold for $60m

The sale of a West Melbourne office asset is the third in a trio of neighbouring properties to be sold by CBRE, signalling the ongoing confidence in Melbourne's commercial property market. The 383 Spencer Street property is the last of three neighbouring properties sold to high-profile owners and takes the total sales tally to approxi...

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Primewest adds two more shopping centres to its $300m "daily needs" trust

Primewest adds two more shopping centres to its $300m "daily needs" trust

Property fund manager Primewest has added two shopping centres to its recently launched "daily needs" property trust today, both in New South Wales. The company has acquired two Woolworths-anchored centres from Charter Hall in Pemulwuy and West Ryde NSW, following its recent purchase of the Spring Farm Shopping Centre in the sou...

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Amazon Australia to construct robotic fulfilment centre in Sydney's West

Amazon Australia to construct robotic fulfilment centre in Sydney's West

Amazon Australia has announced plans to open its first Amazon Robotics fulfilment centre at the Oakdale West Industrial Estate in Western Sydney, targeted for completion by late 2021. The state-of-the-art distribution centre is the latest landmark development for Brickworks (ASX: BKW) and Goodman Group's (ASX: GMG) joint venture at th...

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Two Kaufland properties sold to Woolworths, Aventus

Two Kaufland properties sold to Woolworths, Aventus

ASX-listed companies are picking up some of the first pieces from the surprise exit of German retailer Kaufland earlier this year, with two of the group's nine sites now sold. Schwarz Group-owned Kaufland reportedly spent $500 million on its now abandoned Australian foray, but a small percentage of that has been regained through the s...

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$220 million Geelong civic project greenlit

$220 million Geelong civic project greenlit

A $220 million revitalisation project for Geelong has been greenlit today by the Victorian Minister for Planning Richard Wynne. The project, designed by Cox Architecture, will include a new centralised head office for the City of Greater Geelong, a separate building owned and managed by Quintessential Equity, and a 2,600sqm public precinc...

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Atlassian Sydney HQ will be world's tallest hybrid timber tower

Atlassian Sydney HQ will be world's tallest hybrid timber tower

Software giant Atlassian aims to "turbo-charge" Australia's tech economy with the help of a new architecturally progressive precinct at Central Station in Sydney. The NYSE-listed company unveiled plans today for its new headquarters to become the world's tallest hybrid timber building, concocted by the same architecture ...

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Dexus to sell Sydney CBD property for $530m

Dexus to sell Sydney CBD property for $530m

Property trust Dexus (ASX: DXS) has today announced a deal to sell a Sydney office tower to Singapore-based Peakstone for $530 million, with proceeds initially to be used to pay down debt.  The announcement involving conditionally exchanged contracts for 45 Clarence St comes on the same day as a $195 million drop in the value of...

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Mirvac retail property value drops $349m

Mirvac retail property value drops $349m

The impacts of social distancing requirements due to COVID-19 have taken their toll on real estate group Mirvac (ASX: MGR), slashing the value of its retail property portfolio by $349 million. The preliminary unaudited devaluation represents a 9.9 per cent drop for the group's second-largest property asset class.  In contrast...

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Primewest to begin Stage 2 of $100m Joondalup master plan

Primewest to begin Stage 2 of $100m Joondalup master plan

Property fund manager Primewest (ASX: PWG) is going ahead with the second stage of its $100 million master plan for the City of Joondalup north of Perth. After completing a 10,000 square metre Stage 1 office building early last year, Primewest has now unveiled plans for a 12,000 square metre office building and associated p...

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Melbourne office tower anchored by Domain settles for $50 million

Melbourne office tower anchored by Domain settles for $50 million

Property portal Domain will anchor a freshly settled $50 million office building in Cremorne, Melbourne. The newly built office tower at 600 Church Street was purchased off-the-plan in 2018 by fund manager Bayley Stuart Capital for $50 million and settled today by ICON Developments. The tower is currently 80 per cent leased and will w...

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Stockland CEO to retire as commercial property portfolio drops in value

Stockland CEO to retire as commercial property portfolio drops in value

The CEO and managing director of listed property group Stockland (ASX: SGP) Mark Steinert (pictured) has announced his intention retire today after 7.5 years in the role. The company is now searching for Steinert's successor who will lead the company through its COVID-19 recovery. "A flexible period of transition has been agr...

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Primewest to launch $300m "daily needs" retail property trust

Primewest to launch $300m "daily needs" retail property trust

Within two months of a pivot towards agricultural land investments, property fund manager Primewest (ASX:PWG) has today signalled its view on another counter-cyclical asset class - neighbourhood shopping centres. The Western Australia-based company has unveiled plans to create a new $300 million Australian "daily needs" pro...

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$350m Western Sydney innovation quarter gets green light

$350m Western Sydney innovation quarter gets green light

Property investor Charter Hall (ASX: CHC) and Western Sydney University have received approval to build the $350 million Innovation Quarter (iQ) precinct at Westmead. Development approval has been granted for stages 1 and 2 of the project, aimed at creating a "visionary hub" for innovation in health, education, re...

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Charter Hall snaps up $115m Sydney logistics facility

Charter Hall snaps up $115m Sydney logistics facility

Charter Hall Group (ASX: CHC) is on a spending spree for logistics property, purchasing a $115 million logistics property in Western Sydney within a week of forking out $648 million for ALDI's logistics portfolio. Charter Hall's Prime Industrial Fund (CPIF) and Direct Industrial Fund No.4 (DIF4) secured the property on 4...

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WA to spend $444m on housing stimulus package

WA to spend $444m on housing stimulus package

The Western Australian Government has announced a housing stimulus package worth almost two-thirds of the national HomeBuilder program, with a strong focus on social housing and grants for homebuyers. The state government expects its $444 million package announced yesterday to support around 4,300 jobs in the building and constructio...

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Charter Hall bags ALDI logistics portfolio for $648 million at the checkout

Charter Hall bags ALDI logistics portfolio for $648 million at the checkout

Charter Hall Group (ASX: CHC) and its joint venture (JV) partner Allianz Real Estate have acquired supermarket group ALDI's $648 million Australian logistics portfolio. Located in Melbourne, Sydney and Brisbane, the distribution centres were designed and built by ALDI and sold to the JV with seven-year lease back initial terms plus mu...

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HIA forecasts new home building to fall in half

HIA forecasts new home building to fall in half

A recent national report from the Housing Industry Association (HIA) forecasts half a million jobs in the construction industry are at risk, with the market set to fall to a level lower than the 1990's recession in December this year. HIA managing director Graham Wolfe says while the industry worked on close to 200,000 new h...

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