Property Focus


Sydney, Melbourne housing boost Mirvac

Carolyn Cummins 1:05 PM   Mirvac first-half profit jumps 69 per cent, boosted by residential developments and acquisitions across the rest of the portfolio.

Goodman profit boosted by e-commerce

Goodman chief executive Greg Goodman said the group continues to capitalise on the strong global demand for modern, high ...

Carolyn Cummins 10:35 AM   Goodman Group has reaped the rewards of the growing e-commerce sector which has high demand for warehouses and posted a 9 per cent rise in profit to $919 million in profit for the six months to December 31.

Housing sector boosts Stockland

Stockland has sold a half- stake in its landmark Piccadilly Centre in the Sydney CBD for just under $200 million to ...

Carolyn Cummins   Stockland, one of the country's biggest home builders, has been boosted by the residential sector which help provide a 50.6 per cent rise in statutory profit to $696 million for the December half.

Investors target High Street shops

21 Victoria Street in Melbourne's CBD.

A high-visibility showroom at 439-443 Swan Street with a total land area of 600 square metres sold for $3.6 million to a private investor.

Places Victoria selling Cheltenham land

for sale.

Marc Pallisco   Places Victoria is believed to formalising the sale of a 1.56-hectare Cheltenham site housing a building where fighter jet planes were manufactured in the Second World War.

Hotel investment tipped to reach $12b

After Far East Organisation and Sino Group agreed to pay $445,300,000 for the landmark Westin Sydney, there has been ...

Carolyn Cummins   The boomtime for the Asia Pacific hotel sector is tipped to attract a proportion of the forecast $US8.5 billion ($12.1 billion) in hotel investment in 2016.

Folkestone Maxim A-REIT fund upgrades

Folkestone invests in a range of property landlords.

Carolyn Cummins   The Folkestone Maxim A-REIT Securities Fund has been upgraded.

Innovative Aquarevo sustainable estate targets water savings

An artist's impression of Aquarevo estate.

Simon Johanson   The Aquarevo estate in Lyndhurst is being jointly developed by privately owned Villawood Properties and state utility South East Water to include unique water recycling features estimated to save up to 70 per cent of drinking water.

Shopping Centres Australasia forecasts solid growth

Greenbank Shopping Centre, south of Brisbane, bought by SCA for $23 million.

Carolyn Cummins   Shopping Centres Australasia has offset the softer sales growth from the ongoing supermarket wars with a rise in specialty store turnover to report a 29.1 per cent rise in first half funds from operations to $48.8 million.

Southbank owners pool their property for sale

A 1856-square-metre site at 107-117 Queensbridge Street is for sale.

Nicole Lindsay    A group of property holders are offering a key Southbank site opposite the Crown casino.

Australian Open serves hotels an occupancy ace

Adara Collins in Melbourne will join the Ascend Hotel Collection.

The two-week Grand Slam tennis tournament has boosted Melbourne occupancy rates to an average 90.4 per cent.

Industrial sales slip but deals ready to roll

Facilities such as warehouses are becoming increasingly popular with investors.

Nicole Lindsay   The value of industrial sales transacted in Australia slid 12 per cent last year as a backlog of deals failed to get signed before Christmas.

Grossly negligent builder fined $65,000 and banned

Steve Balfour's faulty house will cost $250,000 to fix.

Simon Johanson   Substandard and "hazardous" work on 69 homes lead to builder's registration being stripped for three years.

Australia housing 'in crisis': AVJennings

Av Jennings says there is an under supply in the housing market.

Australia's oldest housing developer AVJennings has said the country's residential sector is in a crisis with long term undersupply.

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North shore office market springs ahead

177 Pacific Highway, the largest development in North Sydney

The conversion of office towers into residential apartment and the upcoming NSW Government metro railway, has led the vacancy rate across Sydney's North Shore to fall, according to the Property Council of Australia's latest Office Market Report.

Parramatta leads the office stakes

Parramatta Square artist impressions for stage 2, 5, and 6 as part of the growth in the area.

Parramatta has emerged as the strongest office market in Sydney, even eclipsing its rivals in the North, as more businesses jostle for a foothold in what is seen as the growth centre of NSW.

Westfield launches new airport design at LAX

Westfield Corp will focus on developing retail at airports similar to its site at Tom Bradley International airport, Los ...

Global retail giant Westfield has invested close to $100 million in the Los Angeles International Airport as part of its transformation of transport hubs across North America.

Too early to call the top for property: Goldman

A flood of money out of China in the last six months means that it may be too early to call the top of the property market.

A flood of money out of China in the last six months means that it may be too early to call the top of the property market.

South Sydney industrial heats up

3 Anderson Street, Banksmeadow is a 26,359 sqm site being offered for sale via an Expressions of Interest campaign by ...

A major industrial site at Banksmeadow is the latest to hit the market to start what is forecast to be a busy year for the sector.

Jewels in street style as new retailers flood into cities

Shoppers eagerly file into H&M on the opening day of the Pitt Street store in Sydney.

Retail landlords are forecasting a busy year boosted by tourists, low domestic interest rates that give locals extra cash and a desire for pampering via the purchase of jewellery or an expensive handbag.

Twitter and Bloomberg open new offices

The reception at the new Twitter offices at 2 Park Street, Sydney. The interior designers are Bates Smart.

The worlds of politics and property collided last week and it was all captured on social media. Showing he is a man of the people, NSW Premier Mike Baird did the honours of opening the new swanky Twitter offices in 2 Park Street, Sydney.

REIT reporting season is upon us

Office REIT owners are buoyed by strong market conditions in the upcoming reporting season.

In the coming two weeks, investors' attention will be focused on the fact, figures and real estate investment trust directors' narratives about the half-year that was and, more importantly, the outlook for the coming few months leading into the end of the 2015-16 financial year.

Feel-good funky offices open doors to better environment

The Westpac offices at Barangaroo Sydney, where staff can enjoy a fresh environment.

A funky fitout is good news for the environment.

Michael Kum to sell 38 Freshwater Place

Patrons at the Quiet Man in Flemington.

Singaporean business magnate Michael Kum is believed to have sold his awkward-shaped Southbank development site for more than $60 million – or about twice the price he paid in late 2013.

Deals and Deeds

An Alexandria property has been sold to a private buyer.

PB White Minerals P/L has sold a 1086 sqm office at 42-46 Longueville Road to RBC Management P/L.

It's Greek with a vintage twist at Jimmy Grants' new souvlaki site

Jimmy Grants' new souvlaki site in Richmond designed by March Studio.

Designed by March Studio, the fit-out of Jimmy Grants references suburban life in the 1970s.

Tech giants lease up Sydney, Melbourne CBD

Apple's new corporate office at 20 Martin Place, Sydney.

Carolyn Cummins   Technology and the internet have helped office markets in more ways than making work more efficient, they are the leading tenants across all capital cities.

House price growth to slow sharply: NAB

The end of property's golden run? NAB is forecasting average capital city house price will edge up just 1 per cent this year.

Clancy Yeates   House prices are forecast to come to a virtual standstill in Sydney, with much softer conditions also tipped for Melbourne and most other capital cities.

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AMP owed $30m from Dick Smith

Morgan Stanley analyst Thomas Kierath said Harvey Norman and JB Hi-Fi could earn up to $200 million each in extra sales ...

Carolyn Cummins   AMP Capital has emerged as an unsecured creditor for the Dick Smith chain, with a worst case scenario debt of about $30 million.

Toga plans $160m apartment tower at Macquarie Park

Property developer Toga's latest project, One Twenty Macquarie, will stand out at 23 storeys.

Carolyn Cummins   Property developer and hotelier Toga is to build a $160 million residential tower in the booming Macquarie Park precinct in Sydney's north west as part of its ongoing expansion of the housing division.