Brisbane City Council greenlights $450m Toowong project The Aviary

Brisbane City Council greenlights $450m Toowong project The Aviary

Construction is now due to start in 2021 for a transformative project in the Brisbane riverside suburb of Toowong, after the city council approved the $450 million mixed-use development to be named "The Aviary". Also described as the Toowong Town Centre, the development sits opposite the iconic Toowong Village shopping centre with ...

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Sunland spikes 44 per cent on plans to axe debt and give back to shareholders

Sunland spikes 44 per cent on plans to axe debt and give back to shareholders

Property developer Sunland Group (ASX: SDG) has put several of its new developments in Queensland on a tentative backburner, as the company prioritises paying off debts and improving value for shareholders. The news sent the share price for Sunland, which is led by CEO Sahba Abedian (pictured), up by more than 44 per cent at the time of writ...

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Charter Hall trust to buy new Mater HQ for $122.5 million

Charter Hall trust to buy new Mater HQ for $122.5 million

Charter Hall's Social Infrastructure REIT (ASX: CQE) has entered into an agreement to purchase Mater Misericordiae's (Mater) new corporate headquarters for $122.5 million today. The agreement to acquire a 100 per cent freehold interest in 14 Stratton Street, Newstead, is on a sale and leaseback basis with Mater Queensland's large...

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Centuria Industrial REIT grows with $43 million acquisition

Centuria Industrial REIT grows with $43 million acquisition

Centuria Industrial REIT (ASX: CIP) has completed its sixth acquisition of the financial year - a cold storage facility in Ormeau, Queensland - for $43 million. The acquisition of the facility means CIP's portfolio has expanded by $523 million in the first three months of FY21, enforcing the trust's strong position in the sector. T...

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SA Government acquires two abandoned Kaufland sites in Adelaide

SA Government acquires two abandoned Kaufland sites in Adelaide

Renewal SA has acquired two sites in Adelaide that were previously owned by German 'hypermarket' Kaufland on behalf of the South Australian Government. The organisation says it will be considering how to make the most of the two sites in Forestville and Prospect, which could result in the construction of residential and commercial...

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Sale or IPO on the cards for refurbishment specialist Shape

Sale or IPO on the cards for refurbishment specialist Shape

Australian fit-out and refurbishment specialist Shape (formerly known as ISIS) is looking for a buyer or an ASX listing to strengthen its market position, 30 years after launching. Announced today, the company says it is exploring several liquidity options including an IPO or a sale to a strategic or financial buyer. The move comes af...

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Eviction moratorium in VIC extended until March 2021

Eviction moratorium in VIC extended until March 2021

A moratorium on evictions in Victoria will be extended until 28 March 2021 to give both residential tenants and landlords more certainty as the state emerges from Stage 4 lockdowns. In addition, eligible residential tenants will now be able to apply for rental relief of up to $3,000, an increase of $1,000 to what was previously announced. ...

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Cromwell hits back at "misleading" claims from suitor ARA

Cromwell hits back at "misleading" claims from suitor ARA

A leadership struggle at Cromwell Property Group (ASX: CMW) is heating up today after management berated Singapore-based suitor ARA Group over what they claim to be a "patently incorrect understanding" of the Brisbane-based company's earnings. ARA is in the midst of a proportional takeover attempt which, if successful, would gi...

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The Agency bounces back with earnings milestone

The Agency bounces back with earnings milestone

Acquisitive real estate group The Agency (ASX: AU1) has today announced its first full-year EBITDA profit since listing at $2.66 million, backed by strong revenue growth as it looks to boost agent numbers further in the quarters ahead. Facing challenges in response to COVID-19 and the pressures of a $12 million debt it needs to pay back by 3...

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NAB House in Adelaide sold for $47.2m

NAB House in Adelaide sold for $47.2m

A building that is home to National Australia Bank (ASX: NAB) on 22-28 King William Street in Adelaide has been sold by Southern Cross Equity Group for $47.2 million, representing the city's first major CBD office transaction since COVID-19 hit the SA capital. The property, known as NAB House, was purchased by Sydney-based Inte...

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McGrath pulls off turnaround, CEO Geoff Lucas resigns

McGrath pulls off turnaround, CEO Geoff Lucas resigns

The CEO of listed real estate group McGrath (ASX: MEA) has resigned today, just after the company turned things around and posted a full year profit of $700,000. Geoff Lucas' (pictured) resignation from the top role of McGrath is effective today, and he will be replaced by former ANZ (ASX: ANZ) executive Edward Law. McGrath chair Peter...

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Charter Hall, GIC take $682m stake in Ampol property trust

Charter Hall, GIC take $682m stake in Ampol property trust

The petrol station and fuel supplier formerly listed as Caltex will put 203 freehold convenience retail sites into an unlisted property trust, and has brought two major investors on board to own a 49 per cent interest. Charter Hall Group (ASX:CHC) and Singapore's sovereign wealth fund GIC will acquire their stake in Ampol's (ASX...

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Lendlease reports $310m loss as COVID-19 strangles market conditions

Lendlease reports $310m loss as COVID-19 strangles market conditions

The divestment of its underperforming engineering business and the impact of COVID-19 resulted in property developer Lendlease (ASX: LLC) recording a $310 million loss in FY20. This marks two years in a row of "disappointing" results from Lendlease, with the major loss representing a 166.4 per cent dive year-on-year following a $46...

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Logistics property powerhouse Goodman Group beats earnings guidance

Logistics property powerhouse Goodman Group beats earnings guidance

At a time when many retail and commercial property owners are up against the wall, a logistics property portfolio leveraging convenience and e-commerce trends is paying off for founder-led Goodman Group (ASX: GMG). With strategic assets overseas and an Australian portfolio linked to the likes of Amazon, Coles, Woolworths and Kogan to na...

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CBD office vacancy rates remain stable during pandemic

CBD office vacancy rates remain stable during pandemic

Australian CBD office vacancy rates have risen modestly in response to the COVID-19 pandemic, thanks to historicially high levels of occupancy in the months leading into the crisis. According to research from the Property Council of Australia, Australian CBD office vacancy rates increased from 8 per cent to 9.2 per cent over the six months t...

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Homecorp teams up with Morgan Stanley on $200m Gold Coast project

Homecorp teams up with Morgan Stanley on $200m Gold Coast project

Queensland developer Homecorp Property Group has secured backing from Morgan Stanley to create the $200 million Capital Court residential precinct in the heart of the Gold Coast's education and technology hub at Varsity Lakes. Homecorp reached a partnership deal with the global funds manager to develop the a build-to-...

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SCA Property profits fall as specialty retailers struggle to pay rent

SCA Property profits fall as specialty retailers struggle to pay rent

Supermarkets have benefited from consumers flooding small suburban shopping centres during the pandemic, but the rising tide did not lift all boats. Results released today by Shopping Centres Australasia Property Group (ASX: SCP) show even a 5.1 per cent sales increase for anchor supermarket tenants in its community malls was not enough t...

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Sigma Healthcare offloads two DCs for $172m

Sigma Healthcare offloads two DCs for $172m

One of Australia's largest pharmaceutical suppliers and retailers, Sigma Healthcare (ASX: SIG), is set to cut its debt substantially after executing final contracts to sell two distribution centres (DCs) in Kemps Creek, NSW and Berrinbal, QLD. Through a sale process led by PWC's real estate advisory team, the origin...

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Gary Weiss-backed ARA lifts bid for Cromwell

Gary Weiss-backed ARA lifts bid for Cromwell

ARA Group has today purchased around $61.6 million worth of Cromwell Property Group (ASX: CMW) shares on-market after raising its offer for greater ownership in the Brisbane-headquartered company. Led by corporate raider Dr Gary Weiss (pictured), Singapore-based ARA already had a 24.07 per cent share in Cromwell before its new offer annou...

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Coca-Cola Amatil to offload Brisbane logistics facility

Coca-Cola Amatil to offload Brisbane logistics facility

Coca-Cola Amatil (ASX: CCL) is looking to sell an industrial property in Brisbane's south on lease-back terms as part of an ongoing strategic review into its assets.  With Savills Australia appointed as the exclusive agency for the sale that will start accepting first round bids in mid-September, Coca-Cola aims to offload it...

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