'It takes time to turn this business around', McGrath CEO says

'It takes time to turn this business around', McGrath CEO says

Collapsing sales volumes and the departure of key sales agents and franchisees have hit real estate group McGrath Limited (ASX: MEA) which has booked a full year loss of $63 million on the back of a revenue drop of 23 percent over the previous year. At the company AGM on Friday, McGrath CEO Geoff Lucas revealed the serious issues facing t...

Read More...
Ingenia to acquire $23.25 million Maroochydore holiday park

Ingenia to acquire $23.25 million Maroochydore holiday park

Ingenia (ASX: INA) is set to build its Queensland holiday park portfolio with its latest acquisition of the Rivershore Resort in Maroochydore. Worth $23.25 million, Ingenia expects the sale to be settled this month which will further expand its presence in the Sunshine Coast region. Located on 4 hectares, the Rivershore Resort is a ca...

Read More...
Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

Record $18m fine for "false hope" peddling by Rick Otton and We Buy Houses

It started with free seminars and "boot camps" teaching people how to get rich quick. Buy a house with no need for a deposit, quit your job and you'll be set for life, participants were told.  But what We Buy Houses Pty Ltd and its sole director Rick Otton (pictured) were claiming really was too good to be tru...

Read More...
Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Update: Since this story was published, APDC has advised that Bankwest confirmed its consent to pay the special distribution and the September quarterly distribution.  After already dropping its price to get the Asia Pacific Data Centre Group (APDC) saga over and done with, former majority shareholder 360 Capital may end up...

Read More...
Centuria snaps up $521m in office properties

Centuria snaps up $521m in office properties

Real estate trust Centuria Metropolitan REIT (ASX: CMA) has entered unconditional agreements to acquire $520.9 million worth of office properties in Melbourne, Brisbane and Sydney from Texan outfit Hines Global. CMA will spend $500.9 million on the four properties with a $20 million contribution from affiliated entity Centuria Capital Gro...

Read More...
LandMark White offers $10.3m for Taylor Byrne

LandMark White offers $10.3m for Taylor Byrne

LandMark White (ASX: LMW) continues its consolidation push in property valuation with a $10.3 million cash and scrip takeover bid for Taylor Byrne, a Brisbane-based company with 25 offices nationwide. The move comes just over a year after the Sydney-headquartered group acquired another rival MVS for $35 million. LMW has offered Taylor...

Read More...
NEXTDC launches $200m takeover bid for remaining APDC shares

NEXTDC launches $200m takeover bid for remaining APDC shares

Data centre operator NEXTDC (ASX: NXT) is on track to putting a property stoush to bed after striking a deal with Asia Pacific Data Centre Group ('APDC') (ASX: AJD) to buy the remaining 70.8 per cent of shares in the company for around $200 million. The offer represents a 7 per cent premium at $2 per share, but in total is $100 mi...

Read More...
Vicinity sells 10 centres for $573m to SCA Property Group

Vicinity sells 10 centres for $573m to SCA Property Group

SCA Property Group (ASX: SCP) will become Australia's leading owner and manager of convenience-based shopping centres after picking up 10 assets from Vicinity Centres (ASX: VCX) for $573 million. The sale forms part of Vicinity's plans to divest non-core sub-regional and neighbourhood shopping centre assets as it shifts attention ...

Read More...
Charter Hall muscles further into Brisbane CBD with $60 million acquisition

Charter Hall muscles further into Brisbane CBD with $60 million acquisition

Charter Hall has snapped up the Capital Hill building in Brisbane's CBD, which sits directly opposite the new multi billion-dollar Queens Wharf redevelopment, for $60 million. The acquisition at 85 George Street represents a combined buyout, as Charter Hall Long WALE REIT (ASX: CLW) and Charter Hall Direct PFA Fund (PFA) both took a 5...

Read More...
The Agency set to acquire Top Level on $13.4m capital raising

The Agency set to acquire Top Level on $13.4m capital raising

The Agency Group (ASX: AU1) is going ahead with its acquisition of Top Level Real Estate, after securing $13.4 million in new equity. The Agency emerged from a trading halt this morning to announce that it will acquire the fast-growing Sydney firm upon raising $8.4 million from a share placement and $5 million from converting Top Level...

Read More...
The Agency yet to turn a profit after doubling revenue

The Agency yet to turn a profit after doubling revenue

A solid pace of real estate agent recruitments and acquisitions has led to a near doubling of sales revenue for The Agency (ASX:AU1), but one-off set up costs continue to impact the tearaway group which posted a marginally higher bottom-line loss for FY18. The Agency, formed two years ago by a handful of McGrath's (ASX:MEA) top agents...

Read More...
Cromwell asset base grows as statutory profit suffers

Cromwell asset base grows as statutory profit suffers

While Cromwell Property Group (ASX: CMW) may have increased its assets under management (AUM) over the past year, its statutory profits have dwindled. The real estate investor achieved a statutory profit of $204.1 million, down 26.5 per cent, impacted most heavily by $76.1 million worth of net decreases in recoverable amounts on its asset...

Read More...
"Conservative management" could be Sunland's best bet through market downturn

"Conservative management" could be Sunland's best bet through market downturn

Despite exceeding its guidance, Sunland Group's (ASX: SDG) profit margin has dipped 11 per cent as market headwinds begin to emerge. The Gold Coast-based property developer posted a $298.7 million revenue, down 26 per cent on FY17, as well as a 19 per cent reduced earnings before interest and tax result of $51.9 million. While Sun...

Read More...
SCA Property Group falls victim to tough retail conditions

SCA Property Group falls victim to tough retail conditions

In what marks yet another sign that the Australian retail environment continues to struggle, commercial landlord Shopping Centres Australasia Property Group (ASX: SCP) has reported a 45.2 percent profit fall, down to $175.2 million. The retail trust has blamed its lacklustre result on stunted property value growth compared to its prior ye...

Read More...
Gen Y the new boomers for housing market, says BIS

Gen Y the new boomers for housing market, says BIS

Generation Y may have been Generation Boom for the apartment market over the past 15 years, but according to new research they're more likely to be leading a house-and-land surge over the next decade.

BIS Oxford Economics has forecast big changes in the residential demands of ageing Gen Y buyers will lead to slower growth for the apa...

Read More...
Construction heading for 'worst crash since GFC'

Construction heading for 'worst crash since GFC'

After years stimulating the economy, the construction industry could become a major drag on activity as it faces the worst downturn since the GFC, says BIS Oxford Economics. The economic analyst and forecaster predicts the latest downturn is likely to be driven by a 50 per cent slump in the apartment market over the next two years. Ac...

Read More...
$2.2 billion spree buoys Brisbane office market

$2.2 billion spree buoys Brisbane office market

The Brisbane office market, which has been slow to bounce back since the end of the mining boom in 2012, has finally swung into recovery mode following a $2.2 billion spree by investors, according to Savills Research. The upbeat assessment comes a month after BIS Oxford Economics urged caution against expectations that the worst was over,...

Read More...
London investors scoop up Quest Apartment Hotel in Brisbane for $24m

London investors scoop up Quest Apartment Hotel in Brisbane for $24m

London based investments firm 90 North Real Estate Partners (90 North) have made their first foray into the Australian real estate market with the acquisition of a brand-new Quest Apartment Hotel in Brisbane. Located in Greater Springfield, Queensland, the Quest hotel transaction is worth $24.3 million. 90 North launched in Sydney in ...

Read More...
Suncorp settling into $800 million Brisbane tower

Suncorp settling into $800 million Brisbane tower

Suncorp will become the anchor tenant in a new Brisbane CBD tower, following a leasing deal which has been dubbed Brisbane's largest in a decade. Mirvac is the developer behind the new $800 million tower at 80 Ann Street in the Brisbane CBD and announced today that Suncorp is to become the anchor tenant of the new property. Suncor...

Read More...
Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland boosts Brisbane offering with $13.1 million acquisition

Sunland Group (ASX: SDG) has added a 3.26-hectare site in Kenmore to its portfolio, a $13.1 million acquisition that the company says will boost its presence within a high-growth area. The development site encompasses several addresses on Moggill Road and Wyndarra Street and has been approved for 96 terrace homes with an estimated end val...

Read More...
Brisbane's QueensPlaza to undergo $36m revamp

Brisbane's QueensPlaza to undergo $36m revamp

Vicinity Centres, the owner of Brisbane inner city shopping destination QueensPlaza, announced on Friday that its redevelopment application for the centre has been approved by Brisbane City Council. Through a $36 million development, the company plans to elevate QueensPlaza's precinct and shopping capabilities to cater for a growing d...

Read More...
Clarence Property in the zone with $31.25m acquisition

Clarence Property in the zone with $31.25m acquisition

The Zone Shopping Centre at Underwood has changed hands for $31.25 million, marking the fourth South East Queensland-based acquisition for Clarence Property's Westlawn Property Trust (WPT) over the past six months. In the last half year, WPT has purchased other commercial and retail assets in Hamilton, Spring Hill and Northgate for a ...

Read More...
Building a brilliant career: inside one woman's dream to create a new city

Building a brilliant career: inside one woman's dream to create a new city

'What is your dream?' A question often asked and answered in similar ways; I want to buy a house, travel overseas or find the perfect job. Ask Raynuha Sinnathamby the same question, the answer goes a little bit further. "We have aspirations to build a new city," she says. As managing director of the Springfie...

Read More...
Co-working spaces and retail here to stay, say property analysts

Co-working spaces and retail here to stay, say property analysts

The future of Australia's property market looks bright with co-working spaces here to stay and retail set to change dramatically according to analysts. CBRE's annual Australian Market Outlook conference held last week revealed optimism about the future of Australia's property market. One of the key outtakes at the event sh...

Read More...
Sydney investor pays $30m for Ipswich shopping centre

Sydney investor pays $30m for Ipswich shopping centre

An established neighbourhood shopping centre in East Ipswich has sold to a Sydney investor for $30 million in a package deal including multiple adjoining properties.

Located in Goodna, the St Ives Shopping Centre plus the six adjacent properties were transacted by Peter Tyson and Jon Tyson of Savills, in conjunction with Shane Sax of Pac...

Read More...
Sunshine Coast shopping centre snapped up for $12.85 million

Sunshine Coast shopping centre snapped up for $12.85 million

A popular shopping centre in the Sunshine Coast has been bought for $12.85 million by Brisbane based private equity firm Altor Capital. The shopping centre, Cooloola Cove Shopping Centre, is a Woolworths anchored neighbourhood shopping centre located in the Cooloola region north of the Sunshine Coast. The centre is nearby the largest ...

Read More...
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...

Read More...
Hong Kong buyer takes over Fortitude Valley's Emporium Hotel

Hong Kong buyer takes over Fortitude Valley's Emporium Hotel

FORTITUDE Valley's Emporium Hotel has been snapped up by international chain Ovolo Hotels, marking the Hong Kong investor's second foray into the River City market in 12 months. The Anthony John Group, which founded Emporium a decade ago, reportedly sold the property to Ovolo for $40 million. Emporium has garnered a luxury rep...

Read More...
CITIMARK DEFIES THE MARKET, SECURES $200 MILLION TO FUND NEW TOWER

CITIMARK DEFIES THE MARKET, SECURES $200 MILLION TO FUND NEW TOWER

BRISBANE-based Citimark Properties has secured $200 million in funding to add a new gem to the Surfers Paradise skyline. Construction on the 46-level 210 apartment Markwell Residences is due to begin in the new year, and in a remarkable twist, Citimark managing director Angus Johnson revealed that for the first time in Citimark's hist...

Read More...
SINGAPORE FIRM SELLS OFF FIVE PROPERTIES ON EAST COAST FOR $720M

SINGAPORE FIRM SELLS OFF FIVE PROPERTIES ON EAST COAST FOR $720M

SINGAPORE-BASED TrustCapital Advisors has sold five office assets in Australia totalling $727.5 million. One of the major sales was of 850 Collins Street (pictured), a 17,337 sqm A-grade building in Melbourne's Docklands precinct which was sold for $156.1 million. Also in Melbourne, at 575 Bourke Street, a 16,152 sqm multi-let, re...

Read More...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter