Property Focus


Sydney's CBD a hotspot for Chinese investors

Carolyn Cummins 5:57 PM   The wave of Chinese cash crashing over Australia is expected to turn into a tsunami in coming years as the low interest rate environment and weaker dollar combine to make the country's bricks and mortar very attractive.

Tills are ringing for pub sales

Macquarie Hotel, Liverpool has sold for $25 million to private investors. 

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Carolyn Cummins 11:45 PM   In one of the busiest periods for pub sales, the Macquarie Hotel, Liverpool has been sold for $25 million to private Sydney hoteliers, taking the total deals to about $200 million since the start of the year.

Jackson's Neverland Ranch 'on market for $US100m'

Prices for coastal California real estate have soared since the housing crash, when Barrack's Colony Capital acquired the property at a time Michael Jackson faced financial troubles.

John Gittelsohn 3:42 PM   Neverland Ranch, the former home of the late pop star Michael Jackson, is up for sale with an asking price of $US100 million, a source says.

Capital Gain: Tree House learning snares Armadale House

Mario Salvo from the Salvo Property Group in front of one of his developments - The Bank Apartments in Southbank, Melbourne.

Marc Pallisco   Tree House – a burgeoning childcare and early learning centre business with connections to the Salvo family - has paid a speculated $14.5 million for a landmark estate which the suburb of Armadale was named after.

ING Direct joins list of office relocations

60 Margaret Street Sydney, the new home of ING Direct

Carolyn Cummins 11:45 PM   ING Direct has signalled it plans to move to 60 Margaret Street, Sydney to take up the space being vacated by current tenant and landlord, Mirvac.

Sydney hotel sales surging upwards

The Westin Hotel, Sydney has sold for $445 million to Far East Organisation.

Carolyn Cummins 11:45 PM   Hotel sales have reached close to $2 billion in the past five months, with The Westin in Sydney, last week, being the latest to be snapped up by overseas investors.

Shopping malls in investors' sights

Kmart Queanbeyan  has been bought by Sandran Pty Ltd.

Carolyn Cummins 11:45 PM   Investors have snapped up a number of shopping centres in the past month as demand rises for bricks and mortar.

DEXUS Place opens its doors

Dexus Place in Sydney  where tenants can lease  office meeting facilities.

Carolyn Cummins 11:45 PM   Its been dubbed the new club lounge, where tenants of DEXUS Property can use new space at DEXUS Place, as an extension of their offices.

A helping hand to grow small business

Sydney CBD at dusk

Peter Studley 11:45 PM   Small business has been identified as a growth driver for the Australian economy in the recent Federal budget. This raises a key question - how will these businesses and the infrastructure around them handle that growth?

Unilqo opens in Sydney's west

Uniqlo opening at Westfield Parramatta.

Carolyn Cummins 11:45 PM   Australia's love affair with overseas fashion was in evidence by the crowds of shoppers that gathered from 6am for the openings of the two new Uniqlo stores this week at Scentre Group's Westfield Parramatta and Westfield Miranda.

Sagra celebrates la dolce vita

Fine dining in a stunning space at the Sagra restaurant and gallery in Malvern.

Stephen Crafti 12:00 AM   An innovative restaurant, bar and gallery in Malvern is the brainchild of Ross Chessari.

Mirvac raises $405m in 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 Management Group as the operator.

Investors give green light to Novion/Federation deal

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.

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.

Cabrini takes lease in Hawthorn

A view of the Cabrini hospital, which Australian singer Kylie Minogue is believed to have checked into, in Malvern, Australia May 20, 2005. Pop princess Minogue was believed to be in an Australian hospital awaiting surgery for breast cancer on Friday, as her younger sister Dannii flew in from London to join family and friends by her side. REUTERS/David Callow

Nicole Lindsay   Not-for-profit healthcare provider Cabrini Health has signed a deal to lease the top floor of Shell's old headquarters in East Hawthorn.

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.

Offices in demand as offshore money floods in

A flood of money from China into Australian assets shows no sign of slowing down.

Simon Johanson   Melbourne property player Harry Stamoulis will take advantage of heightened investor interest in the commercial office sector, moving to list two city buildings on Williams and Spencer streets.

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 without a hitch.

Gentrification driving the revamp of retail strips

122 Smith Street, Collingwood, fetched $1.79 million at auction last week.

Nicole Lindsay   Gentrification is driving the revival of some of Melbourne's retail strips, while others continue to stagnate under the weight of high rents and a homogenous tenancy mix.

Gazi and Press Club property up for sale

The property leased to George Calombaris' Gazi and Press Club restaurants is for sale with expectations of around $9 million.

Simon Johanson   One of Melbourne's best-known dining destinations is on the market.

Australia dons Uniqlo amid clothing label's expansive mood

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.

Market wrap: Autobarn and Petbarn showrooms find new owner

The tudor-style shops opposite the Prahran
Market attracted strong interest and sold for $3.375 million.

The private sale of an Autobarn and Petbarn showroom fetched $5.25 million on a passing yield of 6.9 per cent, based on a net income of $364,088.

Investors eye leasehold pubs as Vincent Hotel changes hands

Spotless chief executive Bruce Dixon.

Simon Johanson   Spotless chief executive Bruce Dixon, who last month announced he would step down from his top corporate job to help his son, Michael, with his hospitality businesses, will have another high-profile pub to work from, this time in Albert Park.

Cartier moves lap of luxury to other side of Collins Street

The Cartier Store on Collins Street, in the Melbourne CBD.

Simon Johanson   Luxury jeweller Cartier will upgrade its Collins Street store after striking a deal to move into a Mirvac-owned tower on the opposite side of the street from its current location in the prestigious 101 Collins building.

Historic Lyric theatre makes way for 158 apartments

Fitzroy's Lyric Theatre will be demolished to make way for a 10-storey mixed-use building.

Simon Johanson   Martin Strode, the developer behind the 17-level former Yorkshire Brewery apartment complex, will raze Fitzroy's historic Lyric Theatre after getting approval from planning authorities.

Bidders line up for Australian Technology Park

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 million to be successful.

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Andrews' property tax watered down for developers

State treasurer Tim Pallas.

Josh Gordon   State Labor has caved to the demands of property developers by agreeing to water down a new tax on foreign home buyers.

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 office leasing and residential developments.

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 push into the smaller convenience style stores.