Property Focus

 

Westpac jacks up rates for housing investors

James Eyers 4:47 PM   Westpac finally joins rivals in lifting rates for landlords after fixing a computer glitch that has cost it millions in lost interest income.

Lending to landlords accelerates despite crackdown

Housing investor credit growth accelerated to 10.7 per cent in the year to June.

Clancy Yeates 1:54 PM   The red-hot housing investor loan market is expanding even faster than thought, after billions in loans were reclassified as investor mortgages.

Industrial market on track to eclipse 2014

Goodman is developing a giant facility for DHL on the Oakdale Industrial Estate in  western Sydney.

Carolyn Cummins 11:45 PM   The pending sale of the Singapore government's industrial property portfolio, valued at about $1 billion, will help boost the deal pipeline in the second half of the year to more than the $5.4 billion of sales recorded in 2014. 

Retail sector under the microscope in reporting season

Artist impression of H&M store in Pitt Street Mall's Glasshouse building co-owned by Stockland and Investa.

Carolyn Cummins 11:45 PM   A new-look retailer is headed for the Australian market, after the owners of the Trade Secret brand sold out to Canada's TJX Companies.

LVMH sales strong despite China slump

The Louis Vuitton Maison store on the corner of King and George streets.

Bloomberg and Carolyn Cummins   The Chinese market was tough on LVMH Moet Hennessy this year, with sales declining in China, Macau and Hong Kong.

Hotel sector expands to accommodate visitor demand

Sofitel at Darling Harbour is among Sydney's new hotel developments.

Carolyn Cummins 11:45 PM   Cranes are now dotting the skyline, working on major hotel projects.

Ilhan offers blue ribbon city office

Marc Pallisco - Capital Gains - dink - dinkus

Marc Pallisco 12:15 AM   A four-level Little Collins Street building is on offer in central Melbourne.

Building approvals slide in June

The approval of new building dropped off more than expected in June.

Building approvals have suffered their largest setback since September 2014 as the huge surge in high density dwellings eases.

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Bright elements revitalise Monash University's dull brown buildings

Jackson Clements Burrows' makeover of Monash University's science centre.

Stephen Crafti 12:15 AM   The Clayton campus has undergone a transformation as part of a master plan for Monash University.

East Village sets the development pace on awards night

East Village, Victoria Park, has been lauded at the Urban Taskforce Development Excellence Awards.

Carolyn Cummins 11:45 PM   Viking by Crown Group has snared the Innovative Development Award in Sydney.

APRA changes likely to tighten development finance

APRA rules for banks are expected to have far-reaching implications for the property sector.

Domenic Lo Surdo 11:45 PM   A new wave of competitive non-bank finance may arrive as APRA's change to bank equity on mortgages is likely to affect financing for property development.

Deals and deeds

17-23 Bryant Street, Padstow

Carolyn Cummins 11:45 PM   A selection of property transactions in NSW.

Grocon offloads final piece of wall collapse site for $20m

crane

Simon Johanson   Developer Grocon has offloaded the last portion of its Carlton and United Brewery development site - the scene of the infamous 2013 wall collapse that killed three pedestrians - to a global student accommodation provider for $20 million.

Market drawing new users to the north

The new $600 million Epping fruit and vegetable wholesale market.

Nicole Lindsay   Owner occupiers are driving land sales in Melbourne's north, close to road infrastructure, the airport and the new $600 million Epping Market.

NAB's futuristic office rated best workplace in Australia

NAB's head of property solutions Monica Klyscz says workplace satisfaction has increased staff productivity.

Simon Johanson   NAB's futuristic two-year-old headquarters at 700 Bourke Street in Melbourne's Docklands has received many accolades in its short life, and has now nabbed another.

Broadway shopping centre in $55m facelift

The Broadway shopping centre is in for a $55 million upgrade.

Carolyn Cummins   Mirvac is set to undertake a $55 million upgrade of its Broadway shopping centre.

China now the largest overseas investor in Australian property

The portfolio includes 120 Collins Street in Melbourne.

Carolyn Cummins   China has emerged as the largest overseas investor in Australian commercial property.

AZX buys Docklands site

The land is next to Etihad Stadium.

Nicole Lindsay   Privately owned Chinese developer AZX Group has emerged as the buyer of a Docklands development site that sold for $31.1 million last year.

Aecom engineers space in Walker Corp tower

The $2 billion Collins Square development at the western end of Collins Street is one of Melbourne's largest mixed-use commercial and retail developments.

Simon Johanson   Global engineering group Aecom is the latest tenant to take space in billionaire Sydney property developer Lang Walker's Collins Square development.

Swanston Street sale sets record

The three-level former Brooks building at 319-325 Swanston Street.

Simon Johanson   Today's property market has been compared to Melbourne's fabled gold-rush era after competing overseas buyers scorched a recently set CBD land rate record, paying $82,278 a square metre for a Swanston Street property.

Developers target suburban strip shops

Crowds at the auction of 237-239 High Street in Ashburton.

About 100 people in Ashburton watched a local developer bid $3.22 million for a shop at 237-239 High Street that had residential development potential.

Chinese Investment Corp pays $2.5b for Investa assets

The Deutsche Bank Place tower at 126 Phillip Street, Sydney.

Carolyn Cummins   New owners will enter into an investment management agreement with Investa Office, ensuring continuity of management services.

Massive Mulgrave billboard gets cut down to size

A similarly sized illuminated billboard near Sydney airport.

Simon Johanson   Woolworths-controlled Australian Leisure and Hospitality Group (ALH) has failed in a bid to value-add millions of dollars to its Village Green Hotel in Mulgrave by erecting a huge electronic advertising sign on the site that would have netted more than $5 million a year.

Tower Melbourne prompts protracted legal battle

An artist's impression of Tower Melbourne.

Simon Johanson   Colonial Range says CEL Australia's plan to build Tower Melbourne next to Colonial's approved complex has ruined its plans.

Banker heads into enemy territory

CBD - dinkus - dink

Carolyn Cummins   Westpac boss Brian Hartzer will venture into enemy territory in two weeks.

Buyers lining up for $400m David Jones stores

A David Jones window display at the Elizabeth Street store in Sydney.

Carolyn Cummins   The list of potential buyers ready to swoop on the $400 million David Jones property portfolio is long and varied, from local cashed-up super funds to REITs and overseas residential developers looking to build on the airspace of the sites.

Workspace flexibility to shape future office markets

36 Hickson Road, Sydney, where Gensler was granted first right of refusal on the 130 square metre office space above its current tenancy.

Carolyn Cummins   To accommodate the changing office market, landlords are now allowing the negotiation of different lease terms, including growth option and length of stay.

Industrial property in high demand

The New Westlink M7 spaghetti junction at the intersection of the M4 Western Motorway and Wallgrove Road.

Carolyn Cummins   Industrial property demand is racing ahead, as investors look to snap up sites with residential development opportunities.

Office leasing markets improving

Macquarie's renovated 50 Martin Place, designed by JPW

Carolyn Cummins   The lease by tech giant, Apple, at 20 Martin Place, is further indication that office leasing market sentiment is in positive territory.

Capital Gain: Landmark Tullamarine site sells

3 St Kilda Road

Marc Pallisco   Fairfax Media has sold its landmark Tullamarine printing plant for an estimated price of more than $20 million.