SumoSalad back in the ring with plans for THR1VE merger

Within months of struggling through the toils of voluntary administration, food chain SumoSalad looks set to merge with another company that has fallen on hard times. Led by co-founder Luke Baylis as its company director, SumoSalad has signed a heads of agreement to explore the creati...

SumoSalad back in the ring with plans for THR1VE merger
'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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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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ACCC preliminary report slams unfettered dominance of Facebook and Google
ACCC preliminary report slams unfettered dominance of Facebook and Google

The Australian Competition and Consumer Commission (ACCC) has today released its most scathing assessment of how A...

IOOF leaders step down over APRA row
IOOF leaders step down over APRA row

The managing director and chairman of IOOF Holdings (ASX: IFL) have stepped down from their roles to fight legal a...

IOOF shares in freefall as APRA looks to ban five senior executives
IOOF shares in freefall as APRA looks to ban five senior executives

The prudential regulator has begun legal action to disqualify five senior IOOF employees from running a superannua...

Former Murray Goulburn MD hit with $200k fine
Former Murray Goulburn MD hit with $200k fine

A former Murray Goulburn executive has been fined $200,000 over his involvement in the dairy group's fals...

Zelda reaches cannabis spray deal with SUDA
Zelda reaches cannabis spray deal with SUDA

Perth-based Zelda Therapeutics (ASX: ZLD) is set to develop oral spray formulations for its cannabis medicine...

Snack Brands signs $400m pre-lease deal in Sydney's west
Snack Brands signs $400m pre-lease deal in Sydney's west

Iconic chip company Snack Brands has secured one of Australia's largest industrial developments of 2018 on a n...

Fastbrick Robotics launches new service, discontinues Caterpillar MoU
Fastbrick Robotics launches new service, discontinues Caterpillar MoU

The launch of a new 'Wall as a Service' offering and plans to build at least 10 houses outdoors in 2019 we...

Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award
Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award


In the aftermath of the carnage of the GFC, Rouad Elayoubi decided after 13 years in the construction business ...

Retail Food Group chairman flags asset sales, imminent "major restructuring"
Retail Food Group chairman flags asset sales, imminent "major restructuring"

The new executive chairman brought in to change Retail Food Group's (ASX: RFG) fortunes says 2019 will be &quo...

First-ever Sydney Young Entrepreneur Awards to kick off tonight
First-ever Sydney Young Entrepreneur Awards to kick off tonight

The cream of the crop of Sydney's young entrepreneur community will converge on Doltone House in Hyde Park ton...

ARA and Roy Morgan forecast Christmas spending to exceed $51b
ARA and Roy Morgan forecast Christmas spending to exceed $51b

The Australian Retailers Association (ARA) and market research group Roy Morgan expect a "bountiful" Chr...

Booktopia launches $10m equity crowdfund
Booktopia launches $10m equity crowdfund

Australia's leading online bookseller Booktopia is turning a new page in Australian equity raising with a new ...

THC Global expands to NZ with medicinal cannabis range
THC Global expands to NZ with medicinal cannabis range

Within weeks of acquiring a Canadian cannabis growing facility, THC Global (ASX: THC) is living up to its name thr...

Why should Myer report its quarterly sales?
Why should Myer report its quarterly sales?

Myer Holdings (ASX: MYR) chairman Garry Hounsell (pictured) has lambasted major shareholder Solomon Lew in a lette...

Companies

SumoSalad back in the ring with plans for THR1VE merger
SumoSalad back in the ring with plans for THR1VE merger

Within months of struggling through the toils of voluntary administration, food chain SumoSalad looks set to merge...

Property

'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 ...

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

Ex-Macquarie exec takes top job at Yellow Brick Road
Ex-Macquarie exec takes top job at Yellow Brick Road

Yellow Brick Road (ASX: YBR) has appointed an ex-Macquarie board member to its helm, just weeks after a wild ride ...

Entrepreneurship

Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award
Founder of turnkey design construction company wins 2018 Sydney Young Entrepreneur Award


In the aftermath of the carnage of the GFC, Rouad Elayoubi decided after 13 years in the construction business ...

Technology

ACCC preliminary report slams unfettered dominance of Facebook and Google
ACCC preliminary report slams unfettered dominance of Facebook and Google

The Australian Competition and Consumer Commission (ACCC) has today released its most scathing assessment of how A...

ACCC preliminary report slams unfettered dominance of Facebook and Google
ACCC preliminary report slams unfettered dominance of Facebook and Google

The Australian Competition and Consumer Commission (ACCC) has today released its most scathing assessment of how A...

Finance

IOOF leaders step down over APRA row
IOOF leaders step down over APRA row

The managing director and chairman of IOOF Holdings (ASX: IFL) have stepped down from their roles to fight legal a...

Marketing

How integrity can save your website during a redesign
How integrity can save your website during a redesign

Any business owner worth their salt knows that an effective, or ineffective online advertising campaign, can make ...

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

Centre of Christmas to become the social event of the season
Centre of Christmas to become the social event of the season

The end of the year is fast approaching and with it, corporate party season. Finding the time to plan an end o...

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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