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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Lease default kicks Gold Coast Innovation Hub out of the nest

Lease default kicks Gold Coast Innovation Hub out of the nest

Businesses involved with Gold Coast Innovation Hub have found themselves scrambling for space after one member defaulted on the lease at Robina Group's commercial centre The PC in CBDRobina. The incubator's CEO Sharon Hunneybell claims 42 Innovations, which was in charge of providing the lease for the workspace, defaulted and fail...

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Ailing Evans Dixon US property fund reports further woes

Ailing Evans Dixon US property fund reports further woes

Evans Dixon's (ASX ED1) US Masters Residential Property Fund (ASX: URF) has been on rocky ground of late, and its woes have continued to worsen into the new year. The company has been forced to reduce its net asset value (NAV) by up to 30 per cent as a result of a struggling New York City housing market, an unfavourable exchange rate,...

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Lendlease to divest underperforming engineering business for $180 million

Lendlease to divest underperforming engineering business for $180 million

Through FY19 property project developer Lendlease's (ASX: LLC) engineering business has been causing some significant headaches for the company. The segment was one of the main reasons the company posted a 40 per cent dive in profits, down to $467 million from $793 million. It is also currently privy to a class action brought by P...

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Dexus secures $2.1 billion redevelopment of Brisbane's Eagle Street pier

Dexus secures $2.1 billion redevelopment of Brisbane's Eagle Street pier

Two sparkly new office towers, a variety of restaurants and shops, a green open space, and enhanced riverbank facilities are on the cards for a $2.1 billion Brisbane waterfront master plan. Announced this morning by the Queensland Government the development will be helmed by property group Dexus who will transform the city's Eagle Str...

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Mirvac and John Holland selected to deliver Waterloo metro station development

Mirvac and John Holland selected to deliver Waterloo metro station development

A consortium comprised of Mirvac (ASX: MGR) and John Holland have been selected to deliver Sydney Metro's station development at Waterloo. The anticipated end value of the development is $800 million and should be completed over the next five to six years. John Holland will deliver the Waterloo metro station component of the devel...

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Ralan creditors vote in favour of O'Dwyer's mystery Gold Coast development

Ralan creditors vote in favour of O'Dwyer's mystery Gold Coast development

William O'Dwyer, the sole director of collapsed property developer Ralan Group appears to have mostly got his way at a creditor meeting this afternoon. This afternoon's gathering of irate creditors was O'Dwyer's (pictured right) last opportunity to help claw back cash for unsecured creditors, who were otherwise unlike...

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Westlawn Property Trust buys two QLD retail centres for $45m

Westlawn Property Trust buys two QLD retail centres for $45m

Westlawn Property Trust has lifted its portfolio value to $400 million after buying two South East Queensland retail centres in Ormeau and Logan. The flagship trust of Gold Coast-based Clarence Property has spent $45 million on the two centres, including Woolworths Ormeau Centre for $29 million and Logan Village Shopping Ce...

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$1.25 billion property spending spree for Charter Hall

$1.25 billion property spending spree for Charter Hall

Charter Hall (ASX: CHC) has proven to be one of the most acquisitive property funds on the ASX this year and is finishing 2019 with a bang. The company today announced $1.25 billion of acquisitions have been secured, of which two thirds involves a new partnership to partially own 225 convenience properties leased to BP. CHC is no...

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Centuria acquires two Arnott's factories

Centuria acquires two Arnott's factories

Property investor Centuria is betting big on Tim Tams and Shapes biscuits with the acquisition of two Arnott's factories in Queensland and South Australia for $236 million. Centuria Industrial REIT (ASX: CIP) will raise $154 million through a $3.41 per unit placement to partially fund the acquisitions, which will be leased b...

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Centuria buys Canberra office property for $256m

Centuria buys Canberra office property for $256m

Centuria Capital Group (ASX: CNI) now spent more than $700 million on office property acquisitions in the space of three months following the purchase of Canberra's NewActon Nishi Building. Centuria Capital Group (ASX: CNI) has today announced a subsidiary has acquired the Canberra property for $265 million, with funding support ...

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Primewest sells historic Chambers building to UQ

Primewest sells historic Chambers building to UQ

The University of Queensland (UQ) is set to occupy a heritage Queen Street property for its Brisbane CBD campus after buying the "Chambers" building and an adjoining office building for $47.4 million. Built between 1881 and 1924, the iconic Chambers building on 308 Queen Street was originally the head office for the Queensl...

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City of Adelaide announces $400 million Central Market Arcade facelift

City of Adelaide announces $400 million Central Market Arcade facelift

The iconic Central Market Arcade is set to receive a $400 million redevelopment to improve one of Adelaide's most beloved retail precincts. The Central Markets are a veritable hub in the South Australian capital, attracting local foodies, tourists, and everyone in between to the centre of the city every week. The redevelopment of ...

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Scentre Group shells out $570m to bolster Westfield presence in Perth

Scentre Group shells out $570m to bolster Westfield presence in Perth

A significant change in Scentre Group's Perth portfolio means it will defer the expansion of Westfield Stirling. Garden City Booragoon in Perth will soon be rebranded as a Westfield shopping centre after Scentre Group (ASX: SCG) purchased a 50 per cent interest in the property for $570 million from the AMP Capital Diversified Pro...

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The Iconic unveils Sydney fulfilment centre upgrade

The Iconic unveils Sydney fulfilment centre upgrade

One of Australia's leading fashion e-retailers The Iconic has completed an 8,000sqm fulfilment centre expansion that will lift its inventory capacity by 1.55 million units. The retailer's Yennora 2 upgrade in South West Sydney now gives it an overall capacity of more than 3.75 million units, with an additional 20km of shelvin...

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