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...

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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...

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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...

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"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...

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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...

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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...

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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...

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$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,...

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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 ...

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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...

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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...

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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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