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Business

Property Focus

CFS Retail Property Fund ushers in new era with profit gain

CAROLYN CUMMINS 5:58pm CFS Retail Property Trust is to undertake a wide-ranging review of its business as it enters a new era as an independent company.

Mirvac triples full-year profit

CAROLYN CUMMINS 6:04pm Diversified develosper and investor Mirvac has benefited from the housing boom, new acquisition and joint venture deals, to triple its full-year profit to $447 million to June 30.

Property

Mirvac Group posts ‘tremendously successful’ profit spike

Mirvac CEO Susan Lloyd-Hurwitz: We successfully completed a substantial volume of acquisitions and disposals over the year.

Rebecca Thistleton 9:50am Strong residential sales and disposals contributed to Mirvac posting a spike in profit for the year, up from $139.9 million to $447.3 million.

Property

Stockland and Future Fund to offload $600m tower

Waterfront Place BRISBANE.

CAROLYN CUMMINS Brisbane’s Waterfront Place office tower is to be offered for sale with a pricetag estimated at $600 million.

Property

Charter Hall Retail REIT dines out on supermarket success

The Gordon Centre bought by Charter Hall for $67m in December 2010 from Dexus

CAROLYN CUMMINS Food-anchored shopping centres proved a success with a 62 per cent rise in net profit to $85.2 million for the year.

Market Wrap

ALANA SCHETZER Commercial Property Market Wrap

Big retailers squeeze suburban shopping strips

Bridge Road in Richmond this month recorded its highest vacancy level in 10 years.

SIMON JOHANSON The arrival of a host of international retailers and opening of Melbourne’s swank new Emporium shopping centre has taken a heavy toll on traditional suburban retail strips, with vacancy rates soaring on once-bustling streets.

Comments 10

Land prices in outer suburbs at four-year lows

SIMON JOHANSON Land prices in Melbourne’s city-fringe housing estates are at four-year lows and likely to stay that way as the state government ramps up new land releases, figures show.

RMIT's New Academic Street project creating one 'big new heart' in CBD

The university is launching a major refurbishment of four ageing 1970s buildings.

Philip Hopkins RMIT’s New Academic Street project is more than just a big university revamp: it is changing the face of a large chunk of Melbourne’s central business district.

Tall towers loom over key Melbourne gateway

Shadow boxing: Architects say overshadowing will be

SIMON JOHANSON Four large apartment towers up to 34 storeys tall will be built on a key Melbourne gateway on the Yarra River next to Spencer Street under ambitious plans lodged with the state government.

Dorcas Street tower plan to reach 28 storeys

Nicole Lindsay A 28-storey tower on the city's fringe will add to thousands of apartments proposed or being built across Melbourne.

Prime building hits the market

A Swanston Street office building, situated halfway between the new Emporium shopping centre and the Bourke Street Mall has hit the market.

Construction and mining player Watpac rebounds to $18m profit

CAROLYN CUMMINS Construction and mining services group Watpac has returned to the black after posting an after tax profit of $17.9 million for the year to June, thanks to new contracts and a business restructure.

Investa boosted by focused management

Investa property: 99 Walker Street, North Sydney.

CAROLYN CUMMINS Investa Office Fund is set to reap the benefits of rising demand for smaller leases, and a strategic management focus, after posting a 16 per cent rise in net profit to $183.6 million for the year to June 30.

Property

Stockland says double-digit house price growth not sustainable

Stockland's $300 
milion The Village in Balgowlah, NSW.

 

Carolyn Cummins

Commercial Property Editor

Sydney Morning Herald

9282 2247

fax. 9282 3005

 


The Village Balgowlah - Mixed Use.JPG

CAROLYN CUMMINS The booming double-digit house price growth could screech to a halt, according to Stockland, one of the country’s biggest residential developers, which is now forecasting rates of growth closer to 1 per cent.

Property

Ardent Leisure profit jumps 16 per cent as consumers embace the good life

Ardent Leisure operates the Dreamworld theme part in Queensland.

CAROLYN CUMMINS A desire by consumers to be healthier and the growing trend to spend money on discretionary entertainment has triggered a 16 per cent jump in profit for gym and theme park owner Ardent Leisure.

Property

Stockland confirms acquisition plans

Stockland is eyeing residential developments near shopping centres.

CAROLYN CUMMINS Stockland’s chief executive, Mark Steinert, says the year ahead will be characterised by ‘‘greenfield’’ developments and the acquisition of assets in the residential, apartments and mixed use projects.

Commercial

Stockland annual profit jumps

Stockland Melb

Property developer Stockland has lifted its full year profit five fold, due to improvements in the property market and the impact of a major writedown in its previous result.

Stockland on the hunt for assets

Stockland sees housing developments and business parks as the key engines of growth.

CAROLYN CUMMINS Stockland is looking to buy more properties.

Capital Gain: Hiap Hoe looks to level up in Lonsdale Street

Marc Pallisco - Capital Gains - dink - dinkus

Marc Pallisco A $400 million-plus mixed-use village with two skyscrapers rising 67 and 51 levels is mooted to replace a rundown car-park at 380 Lonsdale Street.

Deakin University embraces new wave of architecture

New kid on the block: The Deakin University Health Hub.

Stephen Crafti The Regional Community Health Hub, known as REACH, is the new ‘kid on the block’ at Deakin University’s Waurn Ponds Campus, on the outskirts of Geelong.

Deal and deeds

CAROLYN CUMMINS Owners Corporation Ltd has sold a 1209-sq m office at 17-23 Myrtle Street to a private investor for $5 million.

Shopping centres morphing into hotels, apartments

Leader: Swissotel Sydney was one of the first be built on top of a shopping mall.

CAROLYN CUMMINS The announcement by GPT Group that it is planning to develop the air rights above its malls, starting at Melbourne Central, is another step in the evolution and revolution of shopping centres.

Residential developer buys Hillsdale site for $5.51 million

Snapped up: A site at 278 Bunnerong Road (foreground) has been bought at auction for $5.51 million.

CAROLYN CUMMINS An Eastern Suburbs residential development site at 278 Bunnerong Road,✓ Hillsdale has been snapped up for $5.51 million by a local residential developer at a public online auction.

Business vote essential for urban councils

CHRIS JOHNSON The chief executive of the Urban Taskforce, Chris Johnson, supports the concept of businesses voting in council elections.

Retail

Food retailers bite into retail space boosting rents

Food, glorious food: Artist's impression of Shelley Lane at Barangaroo South.

CAROLYN CUMMINS We all love to eat out and for CBD property owners that demand is proving a goldmine reports Carolyn Cummins.

Rooftops, outdoor areas a boost for leasing property

Roof with a view: 309 George Street, Sydney.

CAROLYN CUMMINS Companies are looking to rent buildings with a point of difference reports Carolyn Cummins.

Construction indicators rise on infrastructure announcements and housing

Sunny: The non-residential sector continues to perform.

CAROLYN CUMMINS The NSW project and the housing market has raised construction indicators to high, according to a new report.

Residential demand driving sales

Lifting: Residential unit blocks are experiencing unprecedented levels of enquiry.

CAROLYN CUMMINS Meriton’s $190 million purchase from DEXUS indicates the interest for sites that can be converted.

Stockland makes a cool $80m with Australand deal

Stockland accepted the Frasers Centrepoint offer at the 11th hour.

CAROLYN CUMMINS Stockland Group has made a cool $80 million after it sold its 19.9 per cent stake in Australand to the Singapore-based Frasers Centrepoint.

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