New $50 million Rydges hotel to land at the Gold Coast Airport

New $50 million Rydges hotel to land at the Gold Coast Airport

Rydges have activated the landing procedures for its touchdown in the Gold Coast. The hotel chain has been given the green light to plant a new $50 million hotel in the Gold Coast Airport precinct, aimed at both locals and onward travellers alike. After receiving approval from the Federal Government, Rydges will develop the seven-stor...

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Dexus to snap up $230m worth of Melbourne CBD properties

Dexus to snap up $230m worth of Melbourne CBD properties

Sydney-based real estate investment trust Dexus (ASX: DXS) is on track to making $230 million in transactions for two adjoining properties on Collins Street in Melbourne's CBD. The company today announced it had exchanged contracts to acquire 60 Collins Street for $160 million, and had also entered into an agreement to buy the ad...

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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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CBDRobina's medical precinct continues growth with healthy $2.9m sale

CBDRobina's medical precinct continues growth with healthy $2.9m sale

M-Space QLD has purchased a 2,621sqm site from Robina Group with plans to deliver a new office and medical facility in CBDRobina. The building, to be called Vicinity Robina, is due to be completed in the second quarter of 2020. Located at 18 Campus Crescent, the site will offer 3,037sqm of net lettable area over three floors with inte...

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Evans Dixon acquires Fort Street to launch new division

Evans Dixon acquires Fort Street to launch new division

Sydney-based stockbroking and financial advisory business Evans Dixon (ASX: ED1) will expand its operations following the acquisition of Fort Street Advisors. The deal, worth 14.3 million shares in Evans Dixon and $23.4 million in cash, will form the basis of a new corporate & institutional division at the company. The new divisio...

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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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Star breaks ground on new $400m Gold Coast tower

Star breaks ground on new $400m Gold Coast tower

The Star Entertainment Group (ASX: SGR) has broken ground on its latest development, the Dorsett Hotel, a $400 million addition to the company's growing South East Queensland portfolio. The new tower will boast 316 hotel rooms as well as 423 one and two-bedroom apartments, adding a total 739 keys to the company's accommodation on ...

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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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TDK secures $5M management rights for Robina community

TDK secures $5M management rights for Robina community

Robina Group's $170 million Vue Terrace Homes community is set to be managed by TDK after the operator secured rights to the tune of $5 million, setting a new record for the central Gold Coast suburb. The private developer said it had received 14 offers for the deal in a highly competitive expressions of interest campaign to administe...

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Raptis denies building risk for GC projects

Raptis denies building risk for GC projects

Property developer Raptis Group (ASX: RPG) has defended its position amid reports published in the Gold Coast Bulletin today alleging regulators issued notices to cancel builder licenses for subsidiary Garnet Constructions, as well as Ezra Constructions which is linked to chairman Jim Raptis. The story, citing documents lodged in the Supr...

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Residential revenue lifts REA Group profit

Residential revenue lifts REA Group profit

A new digital home loan service offering from realestate.com.au also turned a profit, while the company's $130 million acquisition of property data specialist Hometrack Australia is forecast to boost results in the 2019 financial year.  Despite a slight decline in Australian property prices last quarter, online real estate advert...

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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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Cedar Woods sells third Melbourne office building

Cedar Woods sells third Melbourne office building

The market for Melbourne office space continues to burgeon as new developments continue to sell like hotcakes. Cedar Woods (ASX: CWP) announced on Thursday morning that it has sold its third office building in Williams Landing, an emerging area in Melbourne's west. Cedar Woods sold the office space to Hellenic Property Investments...

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Dècor's Melbourne headquarters sold for $16 million

Dècor's Melbourne headquarters sold for $16 million

The corporate headquarters of homeware giant Décor, in Melbourne's eastern industrial hub of Scoresby, has sold for $16.25 million. Purpose built for Décor in 1979, the facility has been acquired by Ascendas REIT Australia. The property has undergone several upgrades and changes over the past four decades, but its on...

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Surfers gets into the Spirit to lure the 'super rich'

Surfers gets into the Spirit to lure the 'super rich'

IT'S the largest single residential tower ever undertaken on the Gold Coast, poised to add 479 premium-priced apartments to central Surfers Paradise, but the Chinese developer sees no issue in finding buyers with deep pockets. Beijing-based Foriseland has officially launched the $1.2 billion Spirit project, an 89-level mixed-use devel...

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EG sells Melbourne CBD office for $93.8 million

EG sells Melbourne CBD office for $93.8 million

After receiving high levels of unsolicited interest from domestic and foreign buyers, real estate fund manager EG has sold its 12-storey office building in Melbourne for $93.8 million. The property, located at 277 William Street, was snapped up by an undisclosed Hong Kong investor in a deal jointly managed by CBRE and JLL. During the ...

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Sunland's latest Melbourne acquisition to support $100 million development

Sunland's latest Melbourne acquisition to support $100 million development

Sunland Group (ASX: SDG) has snapped up a prime site south-east of the Melbourne CBD, earmarking the location for a development end-valued at $100 million. The Gold Coast property developer acquired the 5.1-hectare site in Carrum Downs for $13 million and unveiled plans to turn the area into a community comprised of 185 terrace homes. ...

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Watpac secures $49m Melbourne Uni student accommodation contract

Watpac secures $49m Melbourne Uni student accommodation contract

Watpac will build a 13 level student accommodation building for the University of Melbourne after securing a $49 million contract. The listed construction company will build the 123-135 Bouverie Street student accommodation centre in Carlton for Cedar Pacific, which will be operated by UniLodge. The purpose-built facility will house 6...

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Landmark lease ushers in new era for Gold Coast startups

Landmark lease ushers in new era for Gold Coast startups

The Gold Coast Innovation Hub (GCIH) has moved into Robina's newly refurbished The PC, marking the city's largest lease deal in the past 12 months. The PC is owned by master developer Robina Group and fully tenanted following its latest deal with the startup incubator. GCIH has secured the remaining 1,822sqm of The PC office s...

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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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Aqualand Group takes major stake in McGrath

Aqualand Group takes major stake in McGrath

McGrath Limited (ASX: MEA) has sold a 15 per cent stake in the company to property giants Aqualand Group that gives the company a $10.7 million injection of fresh cash. Aqualand has already acquired an 8.7 per cent stake in McGrath and will take a further 6.3 per cent stake if the deal is approved by McGrath shareholders. The ASX list...

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SCA Property Group sells four shopping centres into new $58m unlisted fund

SCA Property Group sells four shopping centres into new $58m unlisted fund

On the back of SCA Property Group's (ASX: SCP) successful unlisted retail fund strategy called SURF the company has launched the third iteration of SURF valued at $58 million. SURF 3 is currently raising funds to help acquire a portfolio of shopping centres on the east coast to form the new unlisted retail fund. SCA is looking for...

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Investa enters into $3.14b takeover agreement with Blackstone

Investa enters into $3.14b takeover agreement with Blackstone

Investa Office Fund (ASX: IOF) has confirmed it has entered into a takeover agreement worth $3.14 billion with US private equity group Blackstone.  After receiving the takeover proposal in early May 2018, the group, which operates some of the most high profile office buildings in Australia, has agreed to Blackstone's terms. U...

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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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