Property Focus


Gerry has a nervous wait at the ballot box

Carolyn Cummins 6:06 PM   Having spent many years trying to keep his annual general meetings as quick and painless as possible, retail icon, Gerry Harvey, was forced to ensure an hour-long wait, while the votes were counted for the remuneration report poll.

Walker Corp to cash in Collins Square for $2.5 billion

Walker Corporation's Collins Square project is midway through development, with the final tower due for completion in 2017.

Simon Johanson 5:05 PM   Sydney billionaire property developer Lang Walker has put his vast Collins Square project in Melbourne's Docklands on the market with price expectations believed to be around $2.5 billion.

Nine Entertainment looks for new digs

Sydney's Entertainment Quarter, which is being redeveloped to include office space, could be a contender as the home of Nine Entertainment

Carolyn Cummins   Nine Entertainment is to finally sever all ties with its original home at Willoughby after instructing agents it is in the market for new premises along the fringe of the Sydney central business district.

OpenCorp looks to crowds to fund developments

OpenCorp founders Matthew Lewison, Cameron McLellan and Allister Lewison.

Simon Johanson 12:15 AM   OpenCorp's unusual approach to the notoriously capital-intensive development cycle involves tapping funds from a pool of 415 retail investors, many of whom are family or friends.

Google looks to Wynyard Place as new home

Wynyard Place, George Street, is being developed by Brookfield Property Partners, and could be the new home to Google's consolidated operations in Sydney.

Carolyn Cummins 12:15 AM   Internet giant Google has emerged as the front runner to lease up the new space at Brookfield Property Partners' Wynyard Place at 10 Carrington Street in the heart of Sydney.

Offshore developers move into suburbs

The much sought after corner site at 613 St Kilda Road Melbourne has just sold for $12.1 million.

Simon Johanson 12:15 AM   Melbourne's heated development market has resulted in a nondescript St Kilda Road office selling for nearly 30 per cent above expectations and a listed offshore developer moving into middle ring suburbs.

Arup finds new space for Sydney HQ

Investa's 151 Clarence Street site, which is under construction, will be anchored by Arup.

Carolyn Cummins 12:15 AM   Engineering and design firm Arup is on the move in Sydney.

Historical laneway building up for grabs

A five-level building at 8 Drewery Place is on the market.

Nicole Lindsay 12:00 AM   An historical building that dominates the lanes behind Melbourne Central is up for sale for the first time in nearly 45 years.

Strata office values soar

A showroom at 11-19 Bank Place in the CBD sold for $1.9 million.

Nicole Lindsay 12:00 AM   Strata office prices in a Flinders Lane building have doubled in two years as buyers snap up property in Melbourne's CBD.

David Jones to increase the competition

David Jones store from Bourke Street Mall in Melbourne.

Carolyn Cummins 12:15 AM   Department store operators David Jones and Myer are to embark on major changes to the stores layouts and size over the medium term, as they compete for customers and cost efficiency.

Government takes space in flurry of year's-end leasing deals

Workers relax outside Medibank's building at 720 Bourke Street.

Simon Johanson 12:15 AM   The federal government is among a rush of tenants seeking to close large floor plate leasing deals before year's end in prime Melbourne CBD buildings.

Market Wrap: Two prime side-by-side Brunswick shops sell to same investor

Wynn Locksmiths has snapped up a vacant office/warehouse at 110 Bell Street Preston.

12:00 AM   Two prime side-by-side investment properties on Sydney Road have sold to the same investor, one for $2.08m and the other for $1.02m.

Sentinel on growth lookout as City West Plaza boosts Homemaker Trust

Brisbane-based Sentinel Property Group is run by Warren Ebert.

Simon Johanson 12:00 AM   Sentinel has acquired the Harvey Norman-anchored plaza in Sunshine North for $29.5 million for its Sentinel Homemaker (Open Ended) Trust.

Aspen Parks accepts Discovery offer

Grant Wilckens, chief executive of Discovery Parks.

Carolyn Cummins   Australia's largest holiday-park operator, Discovery Parks has inched ahead as the potential victor in its long-running $146 million takeover of rival Aspen Parks Property Fund.

How much Christmas will cost you

The last-minute dash, which is part of Australian tradition, will be maintained with 61 per cent of the Stockland survey respondents saying they will hit the shops on December 23 and additional 31 per cent expect to be rushing into retailers on Christmas Eve.

Carolyn Cummins   Stockland's Christmas survey has revealed how much NSW residents will splurge on gifts, food and drink.

Crowne Plaza returns to Sydney CBD

Crowne Plaza will mark its return back into the Sydney CBD after a five-year absence with a 160 room, 4.5-star hotel on the corner of Sussex and Bathurst streets.

Carolyn Cummins   The 160-room luxury hotel will take advantage of the inflow of people to the Barangaroo precinct.

AV Jennings shrugs off over supply concerns

AVJennings chief executive Peter Summers told shareholders that buyers of its homes were still interested.

Carolyn Cummins   Melbourne-based builder AV Jennings has dismissed concerns about over over supply of apartments, saying demand is still strong for single and semi detached homes.

Governments should make the most of what they have

To-date, the NSW Government has sold 39 properties in Millers Point, raising more than $92 million.  Funds will be reinvested into the building of new social housing in the areas it is needed most.

Dominic Perrottet    Recently, Domain reported seven more government-owned Millers Point properties would go under the hammer in early December.

Kidman holdings could head to the carvery

Beef producers across Australia are enjoying better returns.

Jared Lynch and Philip Wen   Australia's biggest private landholding could be carved up to satisfy Treasurer Scott Morrison after he blocked its sale to Chinese investors.

Comments 9

How property developers make windfall millions

Michael Pascoe

Michael Pascoe   Buy one thing, use spin and insider knowledge to get planning approval to turn it into something completely different and, hey presto, you've made a windfall without moving a brick. But others lose.

Comments 26

Australian retailers lead the march in East Coast fashion meccas

Martin Place is becoming a premier fashion hub.

Carolyn Cummins   City retailing is firmly in the spotlight with international brands competing head on with the local players as the jostle for space.

Shopping Loyalty app aims to enable engagement to reward customers

Smart retail organisations have some form of customer loyalty program, according to the team at Shopping Loyalty.

Carolyn Cummins   Loyalty schemes are constantly under review, with some considered a cost centre, while others are a way of retaining the customer.

Suburbs rise over the city for developments

Westfield Hurstville opening after a $105 million redevelopment.

Carolyn Cummins   The opening of the revamped Westfield Hurstville and the final stage of Stockland's Wetherill Park shopping centre and an improved office market in Parramatta, are further evidence that growth is happening outside of the Sydney central business district.

Hotel development hits $500m-plus

AVANI Hotels & Resorts will develop the $150 million  AVANI Broadbeach Residences on the Gold Coast.

Carolyn Cummins   The hotel sector is gearing up for brighter times with a range of new developments, led by Minor Hotel Group's $150 million development known as The Beach Apartments Broadbeach on Queensland's Gold Coast.

Governments should make the most of what they have

Millers Point sales will be reinvested into 1500 new social housing dwellings.

Dominic Perrottet   Recently, Government Property NSW announced seven more government-owned Millers Point properties would go under the hammer in December.

New tech tenants ink leases across Sydney

One the properties to be bought by the NSW government for its metro stations is 55 Hunter Street, Sydney.

Carolyn Cummins   Sydney's city leasing market is getting hot with a number of deals being worked on as tenants jostle for limited space.

Brookfield tops in Vaucluse

Brookfield Multiplex has reached the top of five levels of the 32,000-square-metre development, due for completion by mid-2016.

Carolyn Cummins   Brookfield Multiplex has achieved a major construction milestone on the $110 million Mark Moran Vaucluse aged care and seniors living facility at Vaucluse, "topping out" and reaching the highest point of the five-level building. 

Deals and deeds

Neil Street P/L has sold a 299.5 sqm office unit at Building A, Unit 1, 14Rodborough Road to a private investor. Ben Byford, JLL North Sydney.

Carolyn Cummins   North Sydney  $850,000.

Fitting out space for a free float

Relaxing while floating is the theme in Beyond Rest in Prahran, designed by fmd architects.

Stephen Crafti   ​Given the increase in technology, whether it's a computer screen, tablet or iPhone, 'weaning' people away from such devices requires some effort.

Canberra office vacancy rates among lowest in the country

Centuria's property at 60 Marcus Clarke Street is being transformed to suit high-end corporate clients.

Rachel Packham   Though recent statistics have placed Canberra's office vacancy rates at around 15 per cent, new research suggests that the actual vacancy rate could be among the lowest in the nation.