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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Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall to buy Victorian shopping centre for $117 million

Charter Hall Retail REIT (ASX: CQR) has teamed up with Charter Hall Prime Retail Fund to form a new joint venture to acquire a prominent Victorian shopping centre. The joint venture will allow Charter Hall to enter an unconditional contract to acquire buy Gateway Plaza in Leopold for a total consideration of $117 million. Charter Hall...

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Vicinity to sell $1bn of assets to enhance portfolio

Vicinity to sell $1bn of assets to enhance portfolio

Listed property developer Vicinity Centres (ASX: VCX) will sell off $1 billion of its assets to reinvest the money in more value-accretive opportunities. The group will sell off sub regional and neighbourhood centres to focus on new investments which it calls "destinations" and "entertainment experiences". Grant Ke...

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Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld's $2.88 million acquisition targets wholesale and impulse buyer markets

Helloworld Travel (ASX: HLO) has acquired a controlling stake in Perth-based Asia Escape Holidays (AEH) for $2.88 million, in a move to boost competitiveness in the travel package deal and impulse buyer markets. The Sydney-based travel agent now owns 60 per cent of Keygate Holdings, the parent company of AEH, and maintains the option to i...

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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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Childcare centre sells for record $21m as confidence in sector is restored

Childcare centre sells for record $21m as confidence in sector is restored

A childcare centre in Artarmon has sold for a record $21 million, which marks the largest sale of a single tenanted childcare property in the country. The sale of the three-storey centre at 6 Clarendon Street was negotiated by CBRE and attracted a yield of 6 per cent. The property is currently tenanted by Affinity Education Group and ...

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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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After 60 years, legacy property in Melbourne CBD sells for $95m

After 60 years, legacy property in Melbourne CBD sells for $95m

One of the largest office buildings on St Kilda Road in Melbourne has changed hands for the first time in six decades. A subsidiary of Abacus Property Group and Wing Tai Holdings bought the property known as VACC House, an eight-level building at 464 St Kilda Road, for $95.38 million. The building includes more than 13,800sqm of offic...

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Commercial market strong as demand for Sydney office space burgeons

Commercial market strong as demand for Sydney office space burgeons

The office market in Sydney is showing no signs of slowing down with big business driving an increased demand for workspaces in the New South Wales capital. According to Colliers International, Sydney recorded a 32 per cent increase for 3000sqm workspaces from the fourth quarter of 2017 to the first quarter of 2018, representing a 63 per ...

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Melbourne beats Sydney as the top Australian city for investment

Melbourne beats Sydney as the top Australian city for investment

Melbourne has been named the number two city in the APAC region for investment for commercial property investors, coming second only to Toyko. According to CBRE's 2018 Asia Pacific Investor Intention Survey the Victorian capital moved up from eight place in 2017 to second place this year. Melbourne toppled Sydney which fell from f...

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CBD squeeze piquing hotelier interest in regional Australia

CBD squeeze piquing hotelier interest in regional Australia

A trend is growing in the Australian hotel market as investors forgo expensive assets in capital cities to favour a more regional approach. CBRE Hotels' Andrew Jackson says buyers are becoming more attracted to the diversity of regional assets, especially as they are being edged out of capitals due to expensive pricing and lack of ass...

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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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Southport to receive lavish $550m entertainment precinct

Southport to receive lavish $550m entertainment precinct

A $550 million retail, dining, entertainment and residential precinct is set to transform Southport on the Gold Coast. Dubbed the 'Queen Street Village', construction is due to commence following the Commonwealth Games in April. The precinct will be built on a 3.2 hectare site bound by Queen, Nerang and Little High streets in ...

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Eureka Group acquires Tasmanian assets for $18 million

Eureka Group acquires Tasmanian assets for $18 million

Eureka Group Holdings (ASX: EGH) has acquired five rental villages throughout Tasmania in a joint venture deal with a group of private investors. The Gold Coast-based retirement village operator acquired the seniors' rental assets in Hobart, Launceston and Devonport from Ingenia for a total of $18 million. The acquisition adds 254...

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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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The Darling to officially open ahead of the Gold Coast Commonwealth Games

The Darling to officially open ahead of the Gold Coast Commonwealth Games

After three years of construction, a date has finally been announced for the opening of The Star Gold Coast's new hotel, The Darling, which will open its doors on March 22 ahead of the Commonwealth Games. Located at the front of the Broadbeach Island property, the new 17-storey hotel forms the centrepiece of The Star Gold Coast's ...

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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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Tipalea Partners acquires $24.5m warehouse in inner-city Sydney

Tipalea Partners acquires $24.5m warehouse in inner-city Sydney

Property investor and developer Tipalea Partners has acquired an industrial warehouse in Sydney's inner-city suburb of Alexandria for $24.5 million. The Sydney based developers secured the site on 23-27 Bourke Road, 500m from Green Square Station. Located on a 6175sqm site, the 4933sqm building is divided into four tenancies, offe...

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Joint venture success buoys Villa World profit

Joint venture success buoys Villa World profit

Villa World (ASX: VLW) is on track to deliver its full-year forecast profit growth as the company today announced a $17.3 million statutory profit after tax. The property developer upgraded its guidance range to $17-18 million in December following a new joint venture project at Wollert in Victoria has since contributed $5.2 million net p...

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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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Abacus buys CBD fringe properties for $142 million

Abacus buys CBD fringe properties for $142 million

Abacus Property Group has bought into the CBD fringe of Australia's two biggest capital cities, acquiring assets for a combined $142.35 million. Abacus acquired the two properties located at Abbotsford in Melbourne and Alexandria in Sydney for $93.5 million and $48.85 million respectively. The Abbotsford properly is fully tenanted...

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Gold Coast office vacancy declines on market demand

Gold Coast office vacancy declines on market demand

Healthy demand for office space on the Gold Coast has seen vacancy rates fall over the final half of 2017.

The Property Council of Australia's latest Office Market Report, released today, shows that over the last six months of 2017, Gold Coast office vacancy fell from 11.3 to 10.6 per cent off the back of positive market demand and buildi...

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Crown sells off $370m worth of Las Vegas assets

Crown sells off $370m worth of Las Vegas assets

Crown Resorts (ASX: CWN) has sold off 34.6-acres of vacant land in Las Vegas, in a deal worth AU$370 million. It is reported that Crown had once intended to build a casino on the site, located on Las Vegas Boulevard, which it has now sold to a subsidiary of Wynn Resorts Limited. After accounting for minority interests, Crown will pock...

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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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Classic Holidays acquires premier resort in Mandurah

Classic Holidays acquires premier resort in Mandurah

CLASSIC Holidays, an Australian resort, club and member management company, has brought one of Western Australia's timeshare resorts under management. Western Australia's Silver Sands Resort, in Mandurah, just south of Perth, has been acquired by Classic Holidays. Silver Sands is the latest Aussie resort to become a part of Cl...

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VILLA WORLD JOINS FORCES WITH SINGAPORE DEVELOPER ON MELBOURNE PROJECT

VILLA WORLD JOINS FORCES WITH SINGAPORE DEVELOPER ON MELBOURNE PROJECT

GOLD COAST-based property developer Villa World (ASX: VLW) has announced a joint venture agreement with Singapore's Ho Bee land that will deliver 285 homes sites north of Melbourne's CBD. The joint venture relates to Villaworld's two previously contracted land sites in the suburb of Wollert, comprising 16 hectares adjacent to ...

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BMW SOUTHBANK SELLS TO MALAYSIAN DEVELOPER AMID EMERGING PROPERTY TREND

BMW SOUTHBANK SELLS TO MALAYSIAN DEVELOPER AMID EMERGING PROPERTY TREND

MALAYSIAN-backed developer Beulah International has bought Melbourne's BMW Southbank in a deal valued at more than $100 million. The sale marks Beulah's most significant acquisition in Melbourne to date, one which the developer plans to turn into a mixed-use space according to principal Jiaheng Chan. "What attracted us to...

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