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...

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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 ...

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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...

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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...

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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...

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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 ...

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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...

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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...

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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...

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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...

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VILLA WORLD LAUNCHES ITS BIGGEST QUEENSLAND PROJECT

VILLA WORLD LAUNCHES ITS BIGGEST QUEENSLAND PROJECT

NATIONAL residential developer Villa World has unveiled its largest Queensland project to date with the launch of the 1502-lot Covella masterplanned community at Greenbank in Logan City, near Brisbane.

Developed as a joint venture with Ron and Tony Perich's Greenfields Development Corporation, Covella will rise on a 153-hectare semi-rural...

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FORMER QLD PREMIER SCOOPS UP BRISBANE SHOPPING CENTRE FOR $15.6 MIL

FORMER QLD PREMIER SCOOPS UP BRISBANE SHOPPING CENTRE FOR $15.6 MIL

FORMER Premier of Queensland, Campbell Newman, has acquired a prominent retail convenience centre in Brisbane suburb Redland Bay. The property was sold for $15.6 million to Newman, Director of Arcana Capital, following an expressions of interest campaign which attracted multiple offers. The Rededge Redland Bay Shopping Centre incorpor...

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BRISBANE SHOPPING CENTRE SALE BREAKS QUEENSLAND RECORD

BRISBANE SHOPPING CENTRE SALE BREAKS QUEENSLAND RECORD

A SHOPPING centre in the Brisbane suburb of Warner has been sold for $78.35 million in the largest neighbourhood shopping centre deal ever recorded in Queensland.

MarketPlace Warner has been sold to an AMP Capital-managed private client mandate as part of the deal which was negotiated by JLL's Jacob Swan and Sam Hatcher.

Th...

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SUNLAND ACQUIRES CHAPEL HILL SITE FOR $5.9 MILLION

SUNLAND ACQUIRES CHAPEL HILL SITE FOR $5.9 MILLION

SUNLAND Group (ASX: SDG) has acquired a 2.29 hectare site in the Brisbane suburb of Chapel Hill, seven kilometres west of the CBD, for almost $6 million. The site on Kirkdale Road is positioned between two idyllic parklands and has a natural waterway running through it. The land has existing development approval for 33 homes, with nea...

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WESTFIELD COOMERA $470M SHOPPING COMPLEX SET TO OPEN IN 2018

WESTFIELD COOMERA $470M SHOPPING COMPLEX SET TO OPEN IN 2018

CONSTRUCTION of the $470 million Westfield Coomera development is underway on the northern Gold Coast with the massive shopping centre expected to open in late 2018.

Retail landlord Scentre Group (ASX: SCG) and co-owner QIC Global Real Estate have begun work on the development which will feature 140 speciality stores in the area includin...

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ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like within the century. Research conducted by IKEA Australia in its People & Planet Positive Report shows that the headcount is likely to reach 70 million in the next hundred years, but only a fraction of the current population ...

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RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

RESIDENTIAL COLLAPSE TO LEAD SHARP BUILDING MARKET DECLINE, BIS SAYS

THE Australian building market is set to decline by 17 per cent over the next three years led by a collapse in residential starts, according to BIS Oxford Economics.

National building commencements peaked in 2015/16 at $107.3 billion, up by 22 per cent in real terms from the end of the resources investment boom in 2012-13, but is expected...

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SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

THE long-neglected and much maligned Festival Plaza in Adelaide has received a hero in the form of long-time neighbour: SkyCity. SkyCity Entertainment today announced it will commit to a $330 million expansion of the Adelaide Casino, revamping the Festival Plaza precinct. The expansion will include a boutique hotel, signature restaura...

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CASA BRISBANE AIRPORT HEADQUARTERS SOLD FOR $23 MILLION

CASA BRISBANE AIRPORT HEADQUARTERS SOLD FOR $23 MILLION

The Civil Aviation Safety Authority (CASA) national headquarters at the Brisbane Airport has been bought by The Patella Group for $23 million, following a hotly contested sales campaign.

Located in the Skygate precinct and surrounded by retail and food options including DFO, Dan Murphy's and Woolworths, the building is still fully leased ...

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CHARTER HALL SNAPS UP SALAMANDER BAY CENTRE FOR $174M

CHARTER HALL SNAPS UP SALAMANDER BAY CENTRE FOR $174M

RETAIL investment trust Charter Hall (ASX: CQR) has purchased the regional Salamander Bay Centre in New South Wales for $174.5 million.

Salamander Bay Centre is based in Port Stephens, north of Newcastle, and comprises a single level shopping centre with a total GLA of 24,000sqm.

The centre benefits from low levels of direct competition wi...

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$12 MILLION OFFICE SALE UNDERPINS MILTON REVIVAL

$12 MILLION OFFICE SALE UNDERPINS MILTON REVIVAL

ONE of Milton's well known office buildings has sold for $12.88 million, supporting the resurgence of the popular Brisbane commercial precinct.

The five-level riverside building located at 12 Cribb Street was bought by a private investor at an initial yield of 6.78 per cent, reflecting a rental rate of approximately $3,900/sqm.

JLL'...

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CQU SETTLES ON SIGNIFICANT BRISBANE CAMPUS UPGRADE

CQU SETTLES ON SIGNIFICANT BRISBANE CAMPUS UPGRADE

CENTRAL Queensland University (CQU) has called 160 Ann Street home for the past six years, and off the back of its latest lease agreement it will continue to do so for the next 15. The deal to expand CQU's lease was negotiated by JLL manager of property and asset management Wayne Barnes, which included additional floors amounting to a...

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CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

IT MAY be cool by the sea at Redcliffe, however strong sales at Kyko Group's Mon Komo development prove that the area has also become a residential hotspot. Within only two months of announcing its campaign, Mon Komo, situated on Redcliffe's Marine Parade, has made $7.9 million in sales and only a handful of its apartments remain ...

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ACQUISITIONS CONTINUE TO DRIVE THE EXPANSION OF BRISBANE-BASED NATIONAL STORAGE

ACQUISITIONS CONTINUE TO DRIVE THE EXPANSION OF BRISBANE-BASED NATIONAL STORAGE

NATIONAL STORAGE (ASX: NSR) has expanded its Perth Development Portfolio with acquisitions totalling $18.6 million across three properties and plans for a further two sites in and around the city.

The Brisbane-based company, which is one of the largest self-storage providers in Australia and New Zealand, will take ownership of a property at t...

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VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

VILLA WORLD TAPS MARKET IN $80m CAPITAL RAISING TO RAMP UP GROWTH

Residential property developer Villa World (ASX: VWL) is ramping up its growth strategy on Australia's east coast "hot spots" with an $80 million capital raising venture.

The Gold Coast-based company, which develops and sells residential land and buildings mostly in Queensland, NSW and Victoria, is looking to grow its inven...

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BRISBANE APARTMENT VACANCIES REMAIN LOW DESPITE INCREASED SUPPLY

BRISBANE APARTMENT VACANCIES REMAIN LOW DESPITE INCREASED SUPPLY

VACANCY rates for new Inner Brisbane apartments remained tight at 2.3 per cent over the December quarter 2016, says new research released today by property consultants, Urbis.

The Urbis Inner Brisbane Apartment Rental Review also found that new developments are out-performing older, established projects with lower levels of amenity.

...

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CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost half of the total capital transacted during 2016. Last year around US$28.2 billion flowed in from Chinese investors who were seeking a slice of Aussie property, often in the form of Melbourne and Sydney's CBD office assets....

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MIRVAC SELLS $165 MILLION WORTH OF UNISON APARTMENTS IN TWO MONTHS

MIRVAC SELLS $165 MILLION WORTH OF UNISON APARTMENTS IN TWO MONTHS

MIRVAC (ASX:MGR) has made $165 million in settlements since launching the second stage of its Unison development at Newstead at the start of this year.

The $200 million development, which completed construction at the end of February, is now 90 per cent sold.

Mirvac Queensland residential general manager Warwick Bible (pictured right) says...

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AGENT EXITS, LOW LISTINGS HURT MCGRATH

AGENT EXITS, LOW LISTINGS HURT MCGRATH

PROFITS have dived 72 per cent at real estate group McGrath (ASX:MEA) to $2.4 milllion on the back of low property listings.

Listings with company-owned offices were down 20 per cent in the half year, and there's been an exodus of agents, which has dampened sales results.

McGrath speculates Australians have been put off selling ...

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INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

INTEREST IN RETAIL PROPERTY SPIKES AS INTERNATIONAL BRANDS LOOK TO ROLL OUT IN AUSTRALIA

AN influx of international retail brands into Australia over the next five years are expected to push up demand for floor space, says CBRE head of research for Australia, Stephen McNabb.

The retail commercial property sector is attracting keen interest, despite a modest rental growth of 1-2 per cent forecast in the year ahead, according to CB...

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