Health issues force Michael Hill CEO to resign

Less than eight months into the job the CEO of jeweller Michael Hill (ASXL MJH) Phil Taylor (pictured top) has resigned. Citing the diagnosis of a "health issue", Taylor will step down to focus on his treatment and recovery. In his place is Daniel Bracken (pictured right), th...

Health issues force Michael Hill CEO to resign
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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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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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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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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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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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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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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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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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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AVEO BEGINS A SLOW PROCESS OF RECOVERY

AVEO BEGINS A SLOW PROCESS OF RECOVERY

RETIREMENT village operator, Aveo Group (ASX: AOG) has shown signs of improvement following in the four months since a takedown by ABC's Four Corners and two threats of class action law suits. The listed retirement home operator has reaffirmed its full-year earnings guidance as its sales continue to improve. The improvement follow...

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ICONIC RETAIL ASSETS CHANGE HANDS IN AUSTRALIA'S BIGGEST PROPERTY DEAL OF 2017

ICONIC RETAIL ASSETS CHANGE HANDS IN AUSTRALIA'S BIGGEST PROPERTY DEAL OF 2017

THE biggest retail property deal of the year has been carried out with mall landlord Vicinity Centres (ASX: VCX) and Singaporean wealth fund GIC swapping assets worth $1.1 billion.

Vicinity has entered into contracts to exchange a 49 per cent interest in Chatswood Chase Sydney for 50 per cent interest in GIC's Sydney CBD centres. ...

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MCGRATH SHARES IN FREEFALL ON PROFIT DOWNGRADE

MCGRATH SHARES IN FREEFALL ON PROFIT DOWNGRADE

SHARES in listed real estate company McGrath Limited (ASX: MEA) have plunged sharply after it announced a 25 per cent profit downgrade on analysts' expectations.

At around midday (AEDST), McGrath shares were down more than 17 per cent to $0.50 on the back of a release of figures which show a weaker-than-expected first four months of tradi...

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QUEST CONTINUES INTERNATIONAL EXPANSION WITH UK DEAL

QUEST CONTINUES INTERNATIONAL EXPANSION WITH UK DEAL

QUEST Apartment Hotels has announced it will develop its first property outside of the Australasian market in the UK city of Liverpool as part of its global expansion.

The $17 million development of Quest Liverpool City Centre will see an existing commercial office building transformed into a 100-room apartment hotel building when it opens fo...

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LANDMARK SYDNEY OFFICE TOWER SELLS FOR $252M

LANDMARK SYDNEY OFFICE TOWER SELLS FOR $252M

ONE of Sydney's most iconic officer towers has been sold to a Singapore-based real estate group for $252 million.

The 24-level commercial officer tower at 66 Goulburn Street, above Sydney's Masonic Centre, was sold by GDI Property Group.

The prominent corner building offers a total net lettable area of 23,124 square meters and is l...

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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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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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$71 MILLION SALE OF 'SYDNEY SIX' GIVES RISE TO WESTERN SYDNEY INVESTMENT HOTSPOT

$71 MILLION SALE OF 'SYDNEY SIX' GIVES RISE TO WESTERN SYDNEY INVESTMENT HOTSPOT

SIX INDUSTRIAL assets in Sydney's West, dubbed the 'Sydney Six', have sold for a collective $71 million, confirming the high demand for investment stock in the city's tightly held industrial market.

The Sydney Six consists of four assets in Wetherill Park, one in Smithfield and another in Eastern Creek, boasting a combined net...

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Aussie company to lead WeChat expansion in South East Asia
Aussie company to lead WeChat expansion in South East Asia

You simply cannot do business in China nowadays without a WeChat account. Owned by Tencent Group, the social media...

How you can harness 'instability' to advance your career
How you can harness 'instability' to advance your career

Although it may have been a touch dramatic, Albert Einstein hit the nail on the head when he said, "once you ...

Premier Investments bucks retail slump with record sales
Premier Investments bucks retail slump with record sales

Premier Investments (ASX: PMV) notched outstanding retail sales results in FY18 with a solid contribution fro...

Consortium breaks milestone on 9,200km international fibre cable project
Consortium breaks milestone on 9,200km international fibre cable project

The consortium behind an ambitious construction of 9,200km worth of undersea fibre network between Perth and Singa...

Unlocking "unprofitable beasts" and why they need more patient capital
Unlocking "unprofitable beasts" and why they need more patient capital

Companies are staying private for longer than ever before with abundant capital on offer, but the flipside is that...

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 mil...

TPG beats guidance despite NBN rollout 'eroding' profit
TPG beats guidance despite NBN rollout 'eroding' profit

Internet and mobile phone service provider TPG Telecom (ASX: TPM) saw its margins decline in FY18 as broadband sub...

Yellow Brick Road revives $300m facility hopes with new bank
Yellow Brick Road revives $300m facility hopes with new bank

Financial services company Yellow Brick Road (ASX:YBR) is paving the way for a long-desired securitisation program...

Why emotions are the secret weapon for successful leadership
Why emotions are the secret weapon for successful leadership

In business there is a saying- 'it's more important to think with your head than your heart'.

But...

The paradox of choice. Why made-to-order might not solve the fashion industry's problems
The paradox of choice. Why made-to-order might not solve the fashion industry's problems

How could you go from winning awards for "Store Design of The Year" and "Best Shoe Ever" to se...

Step down or face shareholder revolt, Solomon Lew urges Myer chairman
Step down or face shareholder revolt, Solomon Lew urges Myer chairman

Myer's (ASX: MYR) leading shareholder has demanded chairman Garry Hounsell "step down immediately" a...

Shock claims backfire on Alan Jones in largest defamation payout in Aussie history
Shock claims backfire on Alan Jones in largest defamation payout in Aussie history

Controversial radio star Alan Jones has failed to defend the defamatory claims he made surrounding the 2011 Granth...

Another "disappointing" result for Myer as profits slide
Another "disappointing" result for Myer as profits slide

"These results are obviously disappointing and shareholders deserve better," says Myer CEO John King. ...

Top 25 Australian startups revealed
Top 25 Australian startups revealed

With a wealth of data at their fingertips, LinkedIn has released its list of "the most sought after startups ...

Companies

Health issues force Michael Hill CEO to resign
Health issues force Michael Hill CEO to resign

Less than eight months into the job the CEO of jeweller Michael Hill (ASXL MJH) Phil Taylor (pictured top) has res...

Property

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 mil...

Opinion

Why your business needs to capitalise on Australia's fastest growing food movement
Why your business needs to capitalise on Australia's fastest growing food movement

It's the food movement that goes by many names. Whether you call it plant-based or cruelty-free, the vegan...

Leadership

How you can harness 'instability' to advance your career
How you can harness 'instability' to advance your career

Although it may have been a touch dramatic, Albert Einstein hit the nail on the head when he said, "once you ...

Entrepreneurship

Unlocking "unprofitable beasts" and why they need more patient capital
Unlocking "unprofitable beasts" and why they need more patient capital

Companies are staying private for longer than ever before with abundant capital on offer, but the flipside is that...

Technology

Aussie company to lead WeChat expansion in South East Asia
Aussie company to lead WeChat expansion in South East Asia

You simply cannot do business in China nowadays without a WeChat account. Owned by Tencent Group, the social media...

Aged care providers tank in wake of royal commission announcement
Aged care providers tank in wake of royal commission announcement

After Prime Minister Scott Morrison announced a royal commission into Australia's aged care system the preemin...

Finance

Unlocking "unprofitable beasts" and why they need more patient capital
Unlocking "unprofitable beasts" and why they need more patient capital

Companies are staying private for longer than ever before with abundant capital on offer, but the flipside is that...

Marketing

ACCC slams Trivago alleging it misled consumers
ACCC slams Trivago alleging it misled consumers

The Australian Competition and Consumer Commission (ACCC) has taken aim at online airfare and hotel aggregator Tri...

Executive Lifestyle

The Test Drive that's designed to help you stand out from the crowd
The Test Drive that's designed to help you stand out from the crowd

An undergraduate degree was once a distinguishing feature of employability and a person's skills in the busine...

Conference And Events

Fifteen fabulous spots for your end of year party
Fifteen fabulous spots for your end of year party

Planning an end of year celebration is the perfect way to treat your staff for all their hard work in 2018, and we...

Video

HOW KATE MOSS AND A SENSE OF SENSE OF HUMOUR HELPED AN ENTREPRENEUR TO LAND A DEAL ON SHARK TANK
HOW KATE MOSS AND A SENSE OF SENSE OF HUMOUR HELPED AN ENTREPRENEUR TO LAND A DEAL ON SHARK TANK

WITH a tried and tested family golden ginger cookie recipe, a sprinkle of sarcasm and a background in marketing an...

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