Smiggle pushes into new markets on profit rise for Premier Investments

Solomon Lew's Premier Investments (ASX: PMV) will push its stationery brand Smiggle into 10 new countries in a strategy involving online and new stores which aims to target more than 700 million people. Smiggle will be pushing into South Korea, Indonesia, Thailand, the Philippines, the...

Smiggle pushes into new markets on profit rise for Premier Investments
AMP sells outer Sydney retail centre for $140M

AMP sells outer Sydney retail centre for $140M

A retail centre 35km west of the Sydney CBD that houses anchor tenants including Bunnings and The Good Guys has been sold for $140 million to property investment firm Ashe Morgan. AMP Capital Diversified Property Fund sold the Crossroads Homemaker Centre in a deal that was co-marketed by Stonebridge Property Group and CBRE. CBRE ...

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Abacus sells Liverpool Plaza for $46 million

Abacus sells Liverpool Plaza for $46 million

Abacus Property Group (ASX: ABP) has sold long-term asset Liverpool Plaza to an undisclosed local group for $46 million. The buyer ran an unsolicited campaign to acquire the property which was first purchased by Abacus in August 2004. Abacus says that although the company was not initially trying to actively sell Liverpool Plaza, it f...

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Stockland sells off another $143 million of retail assets

Stockland sells off another $143 million of retail assets

Stockland's strategy to divest $400 million of assets in 24 months has hit another milestone today with the announcement that the property manager has sold another $143 million in retail assets. The company has sold its interest in the Stockland Cleaveland shopping centre in Brisbane and the Toowong retail and commercial centre in Bri...

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Convenience culture to shift shopping centre mix

Convenience culture to shift shopping centre mix

"Whilst the retail landscape is changing, neighbourhood shopping centres are relatively insulated from the overarching threat of e-commerce," says Nick Willis of CBRE.  The shopping centres of the future will increasingly be blended with other types of property, according to a recent report from real estate agency CBRE...

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Bank of Sydney to acquire new head office

Bank of Sydney to acquire new head office

An agreement to acquire 62 Pitt Street has been described by Bank of Sydney as another step in its ambitious growth strategy, with plans to make the CBD building the bank's signature branch and its Australian head office. The bank was not able to reveal the purchase price, but an information memorandum from Colliers International high...

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Goodwill impairment slams Domain results

Goodwill impairment slams Domain results

A $178.8 million non-cash goodwill impairment has dragged Domain's results into a loss during the first half of FY19. The real estate classifieds company recorded first half revenue of $186.3 million, but the impairment charge dragged the company into a net loss after tax result of $156.4 million. Excluding this impairment charge ...

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LandMark White in trading halt following fallout from data breach

LandMark White in trading halt following fallout from data breach

Property valuer LandMark White (ASX: LMW) has gone into a trading halt pending a statement regarding the fallout from a data breach that occurred on 4 February 2019. The company said at the time that a data set containing property valuation and some personal contact information was disclosed because of a vulnerability in one of LMW's ...

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Villa World posts slightly improved profit in challenging market conditions

Villa World posts slightly improved profit in challenging market conditions

Despite a tough property market Villa World (ASX: VLW) has recorded a slightly improved profit at the end of the first half of FY19. The residential house and land developer announced a $17.6 million after tax half year profit, up from $17.3 million at the end of H1 FY18. This was despite sales being down significantly from the same t...

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Dexus reports a productive half year but profit slips

Dexus reports a productive half year but profit slips

Real estate management group Dexus (ASX: DXS) has seen its profit slip by 27.2 per cent despite its "productive" half year. During the first half of FY19 Dexus' NPAT was down 27.2 per cent to $726.4 million because of net revaluation gains of investment properties being lower than those recognised in the previous correspondi...

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Home-building robot company enters deal with Brickworks

Home-building robot company enters deal with Brickworks

The company known for building a home structure with a robot has today reached a breakthrough agreement with a subsidiary of Brickworks (ASX: BKW), with expectations for a pilot program to kick off in Western Australia. Within months of its partnership with Caterpillar (NYSE: CAT) falling through, Perth-based Fastbrick Robotics (ASX: FBR)...

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Shopping centres lift SCA Property income

Shopping centres lift SCA Property income

Commercial landlord Shopping Centres Australasia Property Group ('SCA', ASX: SCP) has notched a 17.5 per cent year-on-year rise in funds from operations (FFO) in the first half, while like-for-like sales performance remained steady. Statutory net profit after tax (NPAT) was down 43.5 per cent at $39.9 million, but this was mainly ...

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Equinox Property Group adds to growing tourism portfolio

Equinox Property Group adds to growing tourism portfolio

Sydney-based Equinox Property Group has scooped up two Victorian tourist parks worth nearly $6 million in total, adding to its growing portfolio. Benalla Tourist Park and Healesville Lifestyle Village were purchased off-market and are the latest additions to Equinox's portfolio of Victorian mixed-use tourism and land lease villages. ...

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New home building in Australia facing "toughest year in almost a decade"

New home building in Australia facing "toughest year in almost a decade"

Master Builders Australia has forecast a challenging year ahead for the housing market as slowing mortgage credit and political uncertainty take their toll on activity. The group's chief economist Shane Garrett (pictured below) expects this to be the "toughest year in almost a decade" with declining house prices and fal...

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Office market vacancies to tighten in 2019

Office market vacancies to tighten in 2019

Colliers International expects vacancy rates to squeeze even lower in major office markets in the years ahead, driven by commercial tenants competing for limited space and a rise in demand for large or contiguous office space. Colliers' managing director for office leasing, Simon Hunt, says office vacancy forecasts for key market...

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The year ahead in property is filled with challenges and changes

The year ahead in property is filled with challenges and changes

The tremors of political instability, a tough economy, and the rise of e-commerce are the guiding forces behind what looks like a challenging 2019 for the Australian property market. These conditions, which bubbled under the surface in 2018, are set to make and break investments this year, but could provide some clarity for trends we'...

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'It takes time to turn this business around', McGrath CEO says

'It takes time to turn this business around', McGrath CEO says

Collapsing sales volumes and the departure of key sales agents and franchisees have hit real estate group McGrath Limited (ASX: MEA) which has booked a full year loss of $63 million on the back of a revenue drop of 23 percent over the previous year. At the company AGM on Friday, McGrath CEO Geoff Lucas revealed the serious issues facing t...

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Blackstone buys up industrial Sydney properties in Smeaton Grange

Blackstone buys up industrial Sydney properties in Smeaton Grange

One of the world's leading real estate investors has acquired four properties on the outskirts of Sydney for $50 million, representing one of just a few industrial transactions in the city's outer south west in recent months. Blackstone secured the properties spanning a total warehouse area of approximately 29,500sqm in an of...

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McGrath says sluggish property market to blame for earnings woes

McGrath says sluggish property market to blame for earnings woes

A slowing property market and dwindling auction numbers have put pressure on McGrath (ASX: MEA) during the first quarter. The real estate giant says auction clearance rates and the number of properties taken to auction are at levels "well below the previous year". Meanwhile, there has been an increase in stock on the market ...

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Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel scoops up $23.3 million homemaker centre in Heatherbrae

Sentinel Property Group has purchased a homemaker centre just north of Newcastle for a cool $23.3 million. Anchored by Bunnings, the centre is in a high exposure location with Pacific Highway frontage at Heatherbrae. This facility will be the third addition to the Sentinel Homemaker Trust, which also includes City West Plaza at Sunshi...

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Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Default deals parting blow to 360 Capital in NEXTDC saga over APDC

Update: Since this story was published, APDC has advised that Bankwest confirmed its consent to pay the special distribution and the September quarterly distribution.  After already dropping its price to get the Asia Pacific Data Centre Group (APDC) saga over and done with, former majority shareholder 360 Capital may end up...

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Centuria snaps up $521m in office properties

Centuria snaps up $521m in office properties

Real estate trust Centuria Metropolitan REIT (ASX: CMA) has entered unconditional agreements to acquire $520.9 million worth of office properties in Melbourne, Brisbane and Sydney from Texan outfit Hines Global. CMA will spend $500.9 million on the four properties with a $20 million contribution from affiliated entity Centuria Capital Gro...

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LandMark White offers $10.3m for Taylor Byrne

LandMark White offers $10.3m for Taylor Byrne

LandMark White (ASX: LMW) continues its consolidation push in property valuation with a $10.3 million cash and scrip takeover bid for Taylor Byrne, a Brisbane-based company with 25 offices nationwide. The move comes just over a year after the Sydney-headquartered group acquired another rival MVS for $35 million. LMW has offered Taylor...

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NEXTDC launches $200m takeover bid for remaining APDC shares

NEXTDC launches $200m takeover bid for remaining APDC shares

Data centre operator NEXTDC (ASX: NXT) is on track to putting a property stoush to bed after striking a deal with Asia Pacific Data Centre Group ('APDC') (ASX: AJD) to buy the remaining 70.8 per cent of shares in the company for around $200 million. The offer represents a 7 per cent premium at $2 per share, but in total is $100 mi...

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Vicinity sells 10 centres for $573m to SCA Property Group

Vicinity sells 10 centres for $573m to SCA Property Group

SCA Property Group (ASX: SCP) will become Australia's leading owner and manager of convenience-based shopping centres after picking up 10 assets from Vicinity Centres (ASX: VCX) for $573 million. The sale forms part of Vicinity's plans to divest non-core sub-regional and neighbourhood shopping centre assets as it shifts attention ...

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Abacus sells Novotel Twin Waters for $88.5m

Abacus sells Novotel Twin Waters for $88.5m

Abacus Property Group (ASX: ABP) is on the cusp of winding down its hospitality fund altogether with the $88.5 million sale of Novotel Twin Waters on the Sunshine Coast, Queensland to Melbourne-based Shakespeare Property Group. The sale represents the final divestment for Sydney-based ABP's Abacus Hospitality Fund (AHF), which al...

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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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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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Navitas agrees to $2.1b takeover offer
Navitas agrees to $2.1b takeover offer

Education services provider Navitas (ASX: NVT) has agreed to a $2.1 billion takeover offer from a consortium led b...

The tug of war for Xenith IP Group heats up
The tug of war for Xenith IP Group heats up

The battle for control of Australia's intellectual property law firms continues as Xenith IP Group (ASX: XIP) ...

LandMark White's data breach just the beginning for cyber criminals
LandMark White's data breach just the beginning for cyber criminals

Though the dust is yet to settle and the full effects of the data breach suffered by LandMark White are yet to be ...

Significant demand pushes WiseTech raise up $50 million, closes at $300 million
Significant demand pushes WiseTech raise up $50 million, closes at $300 million

Shareholders hungry for a slice of logistics software giant WiseTech (ASX: WTC) has pushed its capital raise up fr...

Blackmores heir takes over as CEO of the company
Blackmores heir takes over as CEO of the company

The son of the late founder of Blackmores (ASX:BKL) will take over the health company as interim CEO. Executiv...

AMP sells outer Sydney retail centre for $140M
AMP sells outer Sydney retail centre for $140M

A retail centre 35km west of the Sydney CBD that houses anchor tenants including Bunnings and The Good Guys has be...

Abacus sells Liverpool Plaza for $46 million
Abacus sells Liverpool Plaza for $46 million

Abacus Property Group (ASX: ABP) has sold long-term asset Liverpool Plaza to an undisclosed local group for $46 mi...

CropLogic secures growing licence for major US hemp state
CropLogic secures growing licence for major US hemp state

Agricultural technology company CropLogic (ASX: CLI) is now one of the first ASX-listed companies to receive a US ...

Class action looms for IOOF
Class action looms for IOOF

While Australia's prudential watchdog takes action against IOOF (ASX: IFL) directors and executives over alleg...

Freelancer and Arrow Electronics partner to revolutionise how hardware is built
Freelancer and Arrow Electronics partner to revolutionise how hardware is built

Freelancer.com (ASX: FLN), the world's largest freelancing marketplace, has partnered with Arrow Electronics t...

As the web turns 30 its creator warns of a bleak future
As the web turns 30 its creator warns of a bleak future

The World Wide Web is now 30 years old! In such a short period of time the invention of the Internet has changed o...

Retail Food Group "damaged the reputation of franchising" slams parliamentary report
Retail Food Group "damaged the reputation of franchising" slams parliamentary report

The parent company behind Brumby's, Donut King, and Michel's Patisserie has been slammed by a parliamentar...

Stockland sells off another $143 million of retail assets
Stockland sells off another $143 million of retail assets

Stockland's strategy to divest $400 million of assets in 24 months has hit another milestone today with the an...

Kathmandu hit by hackers
Kathmandu hit by hackers

The personal information and payment details of Kathmandu Holdings' (ASX, NZX: KMD) online customers may ...

Companies

Smiggle pushes into new markets on profit rise for Premier Investments
Smiggle pushes into new markets on profit rise for Premier Investments

Solomon Lew's Premier Investments (ASX: PMV) will push its stationery brand Smiggle into 10 new countries in a...

Property

AMP sells outer Sydney retail centre for $140M
AMP sells outer Sydney retail centre for $140M

A retail centre 35km west of the Sydney CBD that houses anchor tenants including Bunnings and The Good Guys has be...

Opinion

LandMark White's data breach just the beginning for cyber criminals
LandMark White's data breach just the beginning for cyber criminals

Though the dust is yet to settle and the full effects of the data breach suffered by LandMark White are yet to be ...

Leadership

Blackmores heir takes over as CEO of the company
Blackmores heir takes over as CEO of the company

The son of the late founder of Blackmores (ASX:BKL) will take over the health company as interim CEO. Executiv...

Entrepreneurship

Mark Wahlberg invests in Aussie fitness chain
Mark Wahlberg invests in Aussie fitness chain

Hollywood has come knocking for F45 founder and CEO Rob Deutsch with the news that silver screen hunk Mark Wahlber...

Technology

LandMark White's data breach just the beginning for cyber criminals
LandMark White's data breach just the beginning for cyber criminals

Though the dust is yet to settle and the full effects of the data breach suffered by LandMark White are yet to be ...

Xenith rebuffs IPH takeover bid
Xenith rebuffs IPH takeover bid

The board of intellectual property company Xenith (ASX: XIP) is not impressed by a 9 per cent lift in IP...

Finance

The tug of war for Xenith IP Group heats up
The tug of war for Xenith IP Group heats up

The battle for control of Australia's intellectual property law firms continues as Xenith IP Group (ASX: XIP) ...

Marketing

How this tenacious entrepreneur beat brain trauma to become a tech success story
How this tenacious entrepreneur beat brain trauma to become a tech success story

Christy Laurence knows better than most what it takes to be a resilient businesswoman. The seasoned advertisin...

Executive Lifestyle

The Star to launch new Jones Bay Wharf restaurant
The Star to launch new Jones Bay Wharf restaurant

For the first time ever, The Star is going off-property to launch its latest restaurant headed up by two superstar...

Conference And Events

Inside Australia's top venues offering exclusive deals on conferences, meetings and events
Inside Australia's top venues offering exclusive deals on conferences, meetings and events

Whether on Brisbane's riverside, the sunny Gold Coast or in the heart of Melbourne's bustling CBD, each of...

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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