Property Focus


Grocon snaps up Imax site for $70m

Carolyn Cummins 4:04 PM   Developer Grocon has extended its footprint in Sydney, paying $70 million to move to full ownership of the Imax Theatre site at Darling Harbour.

Four In Hand pub on the market

The Four In Hand hotel at 105 Sutherland Street, Paddington, is on the market through Ray White Hotels Australia.

Carolyn Cummins 3:10 PM   Demand for suburban pubs in Sydney shows little sign of abating, with Paddington's popular Four In Hand the latest to hit the market.

H&M close to opening in Pitt Street Mall

Hans Andersson, head of H&M Australia, is excited for the opening of their new store in Sydney.

Carolyn Cummins   The wait is almost over with the Swedish fast fashion giant H&M Australia getting ready to open the new Sydney flagship store in Pitt Street Mall.

Capital Gain: Mirvac saves biggest proposal for last in Docklands

Thales Australia, manufacturer of the new Hawkei, is selling land.

Marc Pallisco 5:30 AM   Mirvac has saved its biggest Yarra's Edge proposal until last, lodging plans to build what may be Dockland's tallest apartment building beside the Bolte Bridge.

Administrators appointed to property spruiker Jamie McIntyre's companies

Property spruiker Jamie McIntyre was grilled at a Senate hearing on Wednesday over missing investment funds.

Royce Millar and Simon Johanson   The Federal Court has appointed administrators to a string of land-banking companies run by property spruiker Jamie McIntyre amid concerns about millions of dollars sunk into the schemes by investors.

Is your meeting room a waste of space?

Only 30 per cent of available space is used in a meeting room.

Carolyn Cummins   It happens every day. The boss calls a meeting but when you get to the room there are not enough chairs, or else there are only two of you in a big space.

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Battle for ANI REIT heats up

ANI's asset leased to Australia Post at 6 Macdonald Road, Ingleburn, NSW is in the portfolio being sought after by 360 Capital Industrial Fund.

Carolyn Cummins   South African-based investors Redefine and Pivotal have emerged as the new mystery bidders in the long-running takeover attempts for control of the Australian Industrial REIT.

Hole lotta love for apartments as Spire sets sales record

The new Spire development, which will straddle Queen and Ann streets behind the Orient Hotel in Brisbane.

Cameron Atfield   Work has started to turn a massive hole on Brisbane's CBD fringe into a 130-metre apartment building.

Eastland ready to reap rewards of $655m revamp

A Jimmy Grants souvlaki bar is among the tenants at Eastland.

Nicole Lindsay   A massive revamp has increased the size of Eastland by 55 per cent to 131,000 square metres.

Investors target childcare centres: agents

A Melbourne-based private investor outbid five other potential purchasers at the auction of a Thornbury childcare centre, with a final bid of $1.83 million on a tight 3.89 per cent yield.

Philip Hopkins   Investors are increasingly buying childcare centres, driven by strong government support for the sector, population growth and sharemarket volatility, according to commercial agents.

Life in Brunswick points to redevelopment of Sydney Road pub and motel

Bridie O'Reilly's is being offered to buyers as a potential five-storey development site in Brunswick.

Simon Johanson   Irish-themed watering hole Bridie O'Reilly's, which is on the corner of Sydney and Brunswick roads, is being offered to buyers as a potential five-storey development site, although it's also likely to be pursued by hotel operators.

St Kilda Road fringe site sets new record as city grows

An overseas developer has purchased 596 St Kilda Road, one of the area's last low-rise blocks.

Nicole Lindsay   A Singaporean developer has snapped up one of the last remaining low-rise blocks on St Kilda Road, paying a record land price believed to be about $25 million.

Australian Unity unites Rowville site with property fund

Australian Unity has acquired an industrial property at 19 Corporate Avenue in Rowville.

Simon Johanson   Australian Unity's Diversified Property Fund has snapped up a Rowville property in a tightly held industrial pocket on an initial yield of 7.6 per cent.

Target on track to move to new distribution centre

Target will build and occupy a new distribution centre to service its Victorian outlets.

Simon Johanson   Target is close to finalising a deal for a new 61,300 square metre distribution centre in Truganina as part of a broader $300 million upgrade of its facilities in Australia's main cities.

Market Wrap: Buyers vie for East Melbourne shop in rare retail sale

A shop in East Melbourne has been sold for $3.025 million.

A shop in a tightly held retail pocket of East Melbourne has sold for $3,025,000.

Industrial tenants are heading to the Central West

Aerial view  of Sydney's central west where demand is high for industrial properties

Carolyn Cummins   Industrial property is under the spotlight with sales transactions and stronger leasing rental deals concluded as investors see the sector benefitting from low supply and high demand, particularly near new infrastructure project.

Global investment in Australia at new highs

Brookfield property is selling its half share of the World Square shopping centre and car park at 580 George Street, Sydney through JLL.

Carolyn Cummins   The asset sales by Charter Hall, Brookfield Property and DEXUS Property, will set the pace for a busy end to the 2015 calendar year.

Sydney plays catch-up amid central city apartment demand

A Sydney office tower at 175 Castlereagh Street has the potential for conversion to apartments.

Carolyn Cummins   While there may seem to be a glut of inner city apartments, data reveals it is more a case of a market undersupply for the past decade in Sydney.

Luxury brands go to great lengths to find right spot for Sydney shops

An artist's impression of the new retail development at the MLC Centre.

Carolyn Cummins   In a sign of the shift in shopping demographics, more overseas tourists are visiting to take advantage of the lower Australian dollar and buy luxe items.

Looking a lot like Christmas

Pitt Street shopping mall will soon be inundated with Christmas shoppers.

Carolyn Cummins   This weekend is considered a bonanza for retailers as avid fans from the Australian Football League (AFL) and the National Rugby League (NRL) snap up no end of football paraphernalia to support their teams in the finals.

Let's get physical in a corporate body workout

The new, executive-style changing rooms at the revamped MLC Centre.

Chris Davis   With environmental ratings well established across the office sector, buildings are being measured on how they promote good health among occupants.

Capital Gain: CBUS proposes 13 levels for busy Collingwood corner

CBUS's plans for  61-71 Wellington Street and 37-39 Langridge Street.

Marc Pallisco   Melbourne's CBUS Super – a $31 billion building, construction and allied industries fund – has applied to build a 13-level mixed use building atop a low-rise brick factory at a busy Collingwood corner.

Education matters for Brookfield Multiplex

Brookfield Multiplex will build the $125 million Biological Sciences building on the Kensington campus in Randwick.

Carolyn Cummins   The $125 million Biological Sciences building at the University of NSW is the latest Brookfield project.

Squint/Opera animates green workspace with 3D solutions

SIBLING's revamp of the Squint/Opera office in Richmond.

Stephen Crafti   Squint/Opera shows what can be achieved by "thinking outside the box"

Deals and Deeds

HSD Systems Marketing has sold an 8238-square-metre industrial property at 174 Andrews Road, Penrith to Mills Investment Group.

Carolyn Cummins   Recent commercial property transactions in and around Sydney.

World Square shopping centre up for grabs

Brookfield Property is selling its half share of the World Square shopping centre and car park through JLL.

Carolyn Cummins   One of the busiest retail strips in the country at World Square, 580 George Street, Sydney is on the market as the co-owner, Brookfield Property Partners, focuses its attention on the proposed $1 billion Wynyard Place project.

Property spruiker Jamie McIntyre called a ‘conman’ by senators seeking lost millions

Property spruiker Jamie McIntyre was grilled at a Senate hearing on Wednesday over missing investment funds.

Simon Johanson and Royce Millar   Property spruiker Jamie McIntyre was accused of being a "conman" and an "evasive witness" in a fiery Senate committee hearing.

Investors look north and south as Sydney hits peaks

An artist's impression of Gurner's third apartment tower in FV series in Brisbane.

Nicole Lindsay   Investors, increasingly put off by Sydney's sky-rocketing prices, are turning to Brisbane and Melbourne apartments to stock their portfolios.

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Slater & Gordon under spotlight over Kaye-linked schemes

Henry Kaye

Royce Millar, Ben Schneiders, Simon Johanson   High profile law firm Slater & Gordon faces a Senate grilling on Wednesday over its role in questionable land banking schemes linked to infamous property spruiker Henry Kaye and into which mum and dad investors have tipped in more than $100 million.