Carolyn Cummins

Carolyn Cummins

Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald.

Mirvac raises $405m in office and retail asset sales

Mirvac's new home at 200 George Street, near Circular Quay in Sydney, will be among the city's most sustainable office towers.

Carolyn Cummins Mirvac has sold five office assets at an 11.1 per cent premium to previous book value and two retail assets at a 10.7 per cent premium.

Mosman Buena Vista pub changes hands

Buena Vista Hotel in Military Road, Mosman.

Carolyn Cummins The Mosman landmark, the Buena Vista Hotel, has changed hands just on 12 month since it last traded, with a private equity group, the new owners who have installed the new pub outfit The Public House...

Novion/Federation merger wins investor approval

Chadstone shopping centre, Melbourne, which is being redeveloped with apartments and a hotel nearby

Carolyn Cummins The proposed $22 billion merger between Federation Centres and Novion Property was given the green light on Wednesday when investors took only 23 minutes to seal the deal.

Uniqlo to open new Sydney stores

Drummers mark the opening of the Uniqlo store in the Mid City Centre in Sydney.

Carolyn Cummins On Thursday, the new Uniqlo site at Westfield Parramatta will open, and on Saturday, the sixth store will welcome customers to Westfield Miranda.

Federation/Novion merger set to get green light

Emporium Melbourne, in the old Myers building on Lonsdale Street.

Carolyn Cummins The $22 billion planned merger between Novion Property and Federation Centres, which will create the second largest retail real estate investment trust in the country, is expected to be approved...

Westin hotel in Sydney snapped up for $445m

The Westin Sydney and its adjoining Heritage Retail podium has been purchased for $445.3 million.

Carolyn Cummins Investors are pouring cash into the property sector with hotels, development land and residential conversions worth more than $500 million changing hands in the past week.

Five parties invited to bid on Australian Technology Park in Sydney

Up for grabs: The Australian Technology Park in Sydney.

Carolyn Cummins The latest sale of property by the NSW Government, the Australian Technology Park, Redfern, has attracted a range of potential bidders from Australia and overseas, which will need more than $200...

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Chatswood's Zenith Centre on the market

The Zenith Centre, 821-843 Pacific Highway, being offered for sale by GPT Wholesale office fund and DEXUS.

The Zenith.jpg

Carolyn Cummins One of the largest office towers at Chatswood, in Sydney's North, has been put on the market, with a value of more than $200 million, at a time when the area is undergoing a resurgence with new...

Kippax Street office block gets refit

Carolyn Cummins A major refurbishment of an office building at 46 Kippax Street has led to it now being full leased.

Deals and Deeds

16-118 Princes Highway, Ulladulla was sold by Steven Lerche of Savills and Michael Gilbert of Burgess Rawson to a private investor on behalf of Errol Diamond of Diamond Property Group.

Carolyn Cummins Sydney's recent commercial property deals.

Chinese investors beat a path to Australia

An artist's impression Gold Fields House at Sydney'??s Circular Quay which is earmarked for residential development.

Carolyn Cummins The inflow of capital into Australian property from China is in uncharted waters, with the numbers heading towards more than $21 billion in the next six months.

Inner West residential land holdings up for grabs

26 and 28 Bay Street Croydon, known as the Bay Estate is being sold by Savills.

Carolyn Cummins Industrial development land close to the city that can be used for residential conversion is some of the most sought-after across Sydney, with more lots being offered by private investors.

Car parks are the new investment class

Night lights and the Sydney Opera House

Carolyn Cummins Car parking bays in capital cities are slowly going the way of the Dodo bird.

Transport hubs the new retail frontier

Lower ground shopping at the QVB, is known as the ''ant track'' by train commuters who shop as they head to the train.

Carolyn Cummins Transport hubs near train stations, and airports, outside of duty free, are the new destination hubs for savyy retailers, with demand and rent as high as a traditional shopping mall.

Woolworths raises $15m in petrol station sales

Woolworths petrol station at Katoomba was sold in tranche in a leaseback deal.

Carolyn Cummins Woolworths has raised $15.3 million through the sale and leaseback of 10 Woolworths Petrol sites across NSW and Queensland, with the funds to be used for expansion of other operations, including its...

Paddington's Grand National Hotel sold for $7.25 million

The Grand National Hotel, at 161 Underwood Street, Paddington, was sold for $7.25 million to a private investor.

Carolyn Cummins Demand for pubs outside the Sydney CBD lockout zone is on the ascendancy, with more than $150 million of assets changing hands in the past few months.

Federation, Novion's $11b mall merger gets ACCC approval

Bayside shopping centre in Franskton, Melbourne, may be sold in the proposed merger.

Carolyn Cummins The ACCC won't oppose the $11 billion tie-up between Federation and Novion provided they sell a shopping centre in South East Melbourne.

Aqualand snaps up navy site in Pyrmont for $180m

The No. 8 REVY building, Pyrmont has been bought in a deal worth $180m and will be converted to apartments.

Carolyn Cummins Chinese developer Aqualand has purchased the No. 8 REVY and Seven Network Pyrmont properties.

Mirvac relocates to 200 George Street

Artist impression of 200 George Street office tower, being built by Mirvac and its new home

Carolyn Cummins Mirvac has backed its own development by taking up a lease in its new 200 George Street site for the next 10 years.