Property Focus

 

Erskineville's troubled Imperial Hotel sold for $6.5 million

Michael Koziol   The iconic Imperial Hotel in Erskineville has been sold, with its new owners undertaking to put an end to the venue's recent troubles.

developments

Sydney's first high street in a century

Lord Mayor of Sydney Clover Moore and NSW Minister for Planning Robert Stokes inspect Ebsworth Street at the Green Square development site.

Camille Bianchi   The first main street to be built in 100 years has been unveiled in the Green Square precinct - but there is only about a fortnight to see it, before it is covered over.

Investors snap up $7.8b of malls

North Rocks shopping centre has been sold by Scentre to Challenger Life.

Carolyn Cummins   Retail property landlords are generating strong revenue from all aspects of shopping centres.

Land releases expected to boost ACT construction industry after sluggish start

Aerial shots of the new suburb of Lawson taken in February 2015.

Katie Burgess   New land releases are projected to push the ACT's construction industry forward after a sluggish start to the financial year.

Open plan for change as hot desking gets hotter

The new JLL office in North Sydney utilises the in-house WorkSmart system.

Carolyn Cummins   On the positive side, hot desking means less clutter on desks as most offices provide laptops and lockers and staff can choose where to sit.

Report card for results season gets a big tick

10 Shelley Street, Darling Harbour will be the new Sydney home of Suncorp Bank when KPMG moves to Barangaroo South.

Carolyn Cummins   Its the end of the 2015 full year reporting season and the report cards appear healthy across all sectors.

Mantra hotels on expansion path

Melbourne's Docklands is a step closer to welcoming the latest addition to its growing skyline following the completion of the prototype room for the waterfront's first five-star hotel, Peppers Docklands Melbourne. Image supplied.

Carolyn Cummins   Hotel owner and operator Mantra Group is rapidly expanding its portfolio to take advantage of the improving tourism sector and new hotel/apartment offerings.

Woolies extends stay at Norwest

Norwest Business 
Park in Sydney's northwest hills district.

 

Carolyn Cummins

Commercial Property Editor

Sydney Morning Herald

9282 2247

fax. 9282 3005

Carolyn Cummins   Mirvac has renewed its leases with Woolworths' head office at the Norwest Business Park for 15 years, expiring in 2031.

Russo's high hopes for Nylex silo site

The historic Nylex clock tower in Richmond.

Marc Pallisco    Developer Joe Russo has lodged plans to replace a small piece of the operational Richmond silos site, with a mixed-use village including a distinctive 19-level apartment building which will abut the Monash Freeway and Yarra River.

APRA urged to 'hold fire' as mortgage clampdown hits home

APRA said it would prefer "if lenders themselves maintain a healthy dose of common sense in their lending practices".

James Eyers   The chief executive of the country's largest mortgage broker says regulatory measures already in place to cool investor lending are "starting to bite".

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Neil Perry flips new Burger Project into the MLC Centre

A new bar is opening at Investa's 6 O'Connell Street.

Carolyn Cummins   The battle of the hamburgers has intensified across Sydney as celebrity chef Neil Perry signs up his Burger Project at the revamped MLC Centre.

Leasing ladder

My Pet Warehouse has leased a site at Unit 4, 500 Princes Highway in St Peters.

Carolyn Cummins   An update on leasing deals in Sydney.

Sydney CBD office and hotel asset ownership goes global

The Westin Hotel in Sydney sold for $445 million to Asian investors.

Carolyn Cummins   Offshore direct ownership of CBD office assets and hotels is on the rise.

Bid for contemporary style amid historical setting pays off for auction house

Leonard Joel Auction House's architectural fit-out by Atticus & Milo.

Stephen Crafti   Rather than simply add a contemporary layer to the heritage-listed building, the designers have researched the history of auction house Leonard Joel.

APRA talks down Kiwi-style home loan curbs

APRA believes lending criteria should be consistent across the country, regardless of the hot markets in Sydney and Melbourne.

Clancy Yeates   The banking regulator has played down the case for city-specific restrictions on lending in the booming Sydney and Melbourne property markets.

Charter Hall charts expansion course as profit surges

Charter Hall's property at 333 George Street in Sydney is under construction.

Carolyn Cummins   The diversified group has undertaken a significant number of acquisitions across office, industrial and retail sectors, which has led it to boost funds under management by $2.1 billion to $13.2 billion.

Westfield Corp in $US2.5b overseas expansion

Westfield reconfirmed its full-year funds from operations (FFO) would total US37.7¢ per security. The distribution forecast for the 2015 year was also reconfirmed at 25.1¢ per security.

Carolyn Cummins   Westfield Corp, the international retail business run by Steven and Peter Lowy, is embarking on $2.5 billion of projects in the coming year.

Local Chinese media magnate nabs Bradmill site

The Bradmill site in Melbourne that Tommy Jiang has acquired.

Nick Lenaghan and Su-Lin Tan   In one of Melbourne's largest inner-city land deals, local Chinese media powerhouse Tommy Jiang has put his foot on the former Bradmill denim factory in Yarraville for more than $160 million.

Scentre basks in glow of blockbuster movies

<i>Jurassic World</i> was among the top-four movies for the six months to June 30.

Carolyn Cummins   ​Scentre Group, one of the nation's biggest landlords of shopping centres and cinemas, walked tall among the dinosaurs as a number of blockbuster movies delivered close to 20 per cent sales growth in its half-year profit.

Bennelong's West Melbourne towers get green light - but less height

Changes required: An artist's impression of 371 Spencer Street, West Melbourne.

Simon Johanson   A seven-year effort to get approval for two towers in West Melbourne has finally paid off for rich-lister Jeff Chapman after Victoria's planning tribunal gave them a green light.

Investor loans grow at twice APRA's limit

An average wage earner in Sydney cannot afford to buy a median-priced house.

Shaun Drummond   Bank loans to property investors grew at twice the banking regulators' 10 per cent annual growth limit in the past year.

Contracting business boosts Watpac

York & George apartment and retail project in Sydney.

Carolyn Cummins   Construction and mining services group Watpac has worked to rehabilitate its balance sheet and will look to the year ahead with a share buyback and new projects.

Asset valuations boost child care A-reit profits.

Folkestone executive Nick Anagnostou says the company's focus is on child care.

Nicole Lindsay   Asset re-valutions have boosted strong profit growth at childcare centre owners Folkestone Education Trust and Arena REIT.

Cadbury crafts Mondelez a big suburban lease

75 Dorcas Street, South Melbourne

Nicole Lindsay   Global food conglomerate Mondelez has signed the biggest leasing deal on Melbourne's city fringe for the year.

Woolies sells North Melbourne development site

Proposed Woolworths and apartment development in Canning Street North Melbourne.

Marc Pallisco   Woolworths will bank a speculated price of close to $30 million from the sale of a prime inner-city development site it purchased during the 2010 commercial property downturn.

Market Wrap: Developer snaps up prime site Armadale site

Pilates trainers, Empathy Pilates, has agreed on a new lease at 741-743 High Street in Armadale.

A developer has paid $3 million - $800,000 over reserve - for a prime development site in the heart of the Armadale.

More than $30b pumped into property

Sydney is the third preferred city, behind London and Manhattan, for commercial property investors.

Carolyn Cummins   Amid the carnage on global sharemarkets investors have pumped close to $30 billion into bricks and mortar, with overseas money coming into Sydney and Melbourne at record levels, according to agents.

Lend Lease reports $618.6m profit

Income from the construction of Barangaroo South has boosted Lend Lease profits for the year.

Carolyn Cummins   Construction, development and funds management business Lend Lease has reported a profit after tax of $618.6 million, boosted by the strong residential market and projects in Asia and the United States.

Owner-occupiers offered sharp deals

Large discounts are available for owner-occupiers who are strong clients with big loans.

Clancy Yeates   As banks put the brakes on lending to property investors, customers buying a house to live in are being offered some of the sharpest deals in the market.

Banks are the new hot tenants

333 George Street is looking at new bank tenants.

Carolyn Cummins   Banks have become the highly sought after city tenants as they extend their services to cater for the growing residential and office population.