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Business

Property Focus

Property

Nathan Tinkler's Patinack Farm properties fail to sell

Scott Parker 5:08pm The first auction of former coal billionaire Nathan Tinkler's Patinack Farm properties could be declared a "non-starter" after all were passed in at auction on Thursday.

Quest Apartments in $500m deal with Singapore-based Ascott Limited

Quest serviced apartments at Sydney Olympic Park, Homebush, which are to be sold to the Ascott fund.

CAROLYN CUMMINS 5:20pm Quest franchisees have signed a $500-million strategic partnership with one of the world's largest serviced apartment owner-operators – Singapore based The Ascott Limited. 

Macquarie Park eyes role as new the CBD as Ricoh, Abbott move base, apartments planned

Serious rival: Macquarie Park, Sydney.

CAROLYN CUMMINS Macquarie Park is set to be Sydney's next big business park CBD, with companies moving their head offices to the area and consolidating several offices into one larger one.

Property

RBA slammed by real estate lobby group REINSW for property investor u-turn

The real estate industry has hit out at what it says it a u-turn by the RBA on property investment.

The Reserve Bank has been slammed for doing too little too late to curb risky lending to property investors

Quattro Income REIT aims to raise $220m in revised offer

Quattro Spark Central tower, Wellington.

CAROLYN CUMMINS Quattro Income REIT will aim to raise $220 million in public float.

Deals and deeds

CAROLYN CUMMINS Deals and deeds town and around

Melbourne airport maps out its future with massive expansion

A Qantas 737 lands at Melbourne airport  Tuesday 8 May 2012 Picture by Craig Abraham 
The Age

Philip Hopkins Melbourne Airport is a slowly emerging behemoth.

Apartment tower pinned for Bridge Road

Apartment complex in Richmond, inner Melbourne, being developed by Little Projects.

SIMON JOHANSON A father and son development team have lodged plans for a nine storey Richmond Hill apartment tower to replace the equivalent of four stores on Bridge Road's shopping strip.

Southbank tower boom going strong

Going up - 
A year in Southbank's
development
calendar...

MainPoint Melbourne
350 apartments, 
The Habitat
318 apartments, 
Guild Apartments
297 apartments, 
Sunday Coventry
240 apartments, 
Tiara Southbank
210 apartments, 
Harvest 
79 apartments.

SIMON JOHANSON The city's record number of proposed skyscrapers shows no sign of slowing as interests associated with Melbourne's largest private apartment developer Central Equity lodge plans for another 50-level tower in Southbank.

Market wrap: sales, leases and movers

207 Camberwell Road, Hawthorn East.

LIAM MANNIX Property sales, leases and movers in Melbourne

Lend Lease prepares to sell next stage of Barangaroo

Lend Lease is preparing for a sell-down of its stake in the Barangaroo office towers.

CAROLYN CUMMINS Lend Lease is closer to selling its stake in Barangaroo South amid market speculation a full sale or a joint venture partner is about to sign a deal.

North Sydney makeover continues with sale of 221 Miller Street

The present building at 221 Miller Street will give way to a luxury mixed-use building.

CAROLYN CUMMINS The sale of 221 Miller Street, North Sydney, to an Asian-based developer, has been completed for more than $40 million, after all 54 strata suites were bought from the individual owners.

Fitzroy Beer Garden on the market

The Fitzroy Beer Garden in Gertrude Street is being sold by CBRE.

CAROLYN CUMMINS Pub investments are gaining traction in Melbourne with the listing of the Fitzroy Beer Garden in the inner city.

Companies snap up space in Melbourne's refurbished World Trade Centre

Nicole Lindsay A $50 million refurbishment of Melbourne's World Trade Centre has yielded another 4000 square metres of leasing deals.

DEXUS in line for 8.5 per cent growth

CAROLYN CUMMINS DEXUS Property has confirmed its expectations of delivering an 8.5 per cent growth in funds from operation for the 2015 year, thanks to positive momentum for office and industrial property leasing enquiry and activity, particularly in Sydney and Melbourne.

CUB Abbotsford HQ likely to fetch $15m

The Carlton & United Breweries headquarters in Abbotsford.

Nicole Lindsay The Carlton & United Breweries headquarters in Abbotsford, adjoining the brewery, is on the market and expected to fetch more than $15 million.

Springvale sites set to spark flurry of interest from wide range of buyers

Nicole Lindsay Melbourne investor Brendan Sullivan has paid $8.65 million for two Mulgrave office buildings, one of which has stood partly-vacant since it was built in 1990.

Ming Long appointed as new head of Investa Office Fund

Ming Long, the new fund manager at Investa Office Fund.

CAROLYN CUMMINS Investa Office Fund announces that Ming Long has been appointed Fund Manager of 

Bourke Street Bakery, Toby's Estate and Campos make a beeline for Barangaroo

New plans for the public domain at 
Barangaroo South.

CAROLYN CUMMINS Bourke Street Bakery and Gelato Messina along with Toby's Estate and Campos Coffee are the latest to announce they will take set up shop at Barangaroo – adding to the retail mix which will position the waterfront development as one of the best places to work, live and visit in Sydney.

Retail

Telstra takes on rivals with Discovery Store model

Aiming high: the 400 George Street premises will also house Telstra's Sydney HQ.

CAROLYN CUMMINS Telstra has opened a $112 million technology hub in the heart of Sydney's CBD and has plans to open more such stores throughout Australia to capitalise on rapid growth in the digital services market.

Offices

Charter Hall reaps tax benefit at Moonee Ponds Junction

Marc Pallisco - Capital Gains - dink - dinkus

MARC PALLISCO Charter Hall has sold a suburban office near the Moonee Ponds Junction for a speculated $83 million – $3 million more than the asset's book valuation four months ago.

CBD landlords cash in on unused space with catchy retail ideas

Shopping opportunity

Leif Olson Using empty foyers and sparking interest in their properties with eyecatchers means landlords are making more of their investment.

The latest leasing deals for commercial property in Sydney

Commercial property.

CAROLYN CUMMINS Dr Gary Donald McKay has leased a 58-sq m retail site at Shop 1, 38 Pacific Highway from Ambiance Group Pty Ltd.

Investing

Student digs are the new investment trend

Artist's impression: The Parramatta Square project for UNWS.

CAROLYN CUMMINS As student numbers grow, investor and tenant demand for suitable accommodation is increasingly rapidly.

Cosmetic retailer Sephora set to shake up local stores

Sephora beat: A general view is seen outside the soon to be opened Sephora store on Pitt Street .

CAROLYN CUMMINS It's going to be lipsticks at 10 paces when the giant cosmetics retailer Sephora opens in Australia, with the new entrant tipped to have more impact on local department stores than any of the new fashion labels, experts have warned.

Suburban pubs are in hot demand

Hotel Bondi, Campbell Parade, Bondi.

CAROLYN CUMMINS Investors and private operators are piling cash into suburban pubs as the sector is seen as providing capital growth in the bricks and mortar, and a resurgence of patrons avoiding the city

Investments

Visa for the wealthy fuels house price fears

The new visa program is likely to boost investment, but much of this could go into property, adding to the heat in the nation's housing market.

Agnes King, Su-Lin Tan and Lisa Murray Advisers have cheered the creation of a $15 million fast track to permanent residency for wealthy foreigners, in a move by the Abbott government to harness Asia's wealth to boost economic growth and job creation. But the push has also sparked concerns much of this investment will flow into Australian property, driving prices up even further.

David Jones opens first new Sydney store in seven years

David Jones brand ambassadors Emma Freedman, Jason Dundas and Jessica Gomes along with David Jones group executive for merchandise Donna Player officially open the new David Jones store at Macquarie Centre in North Ryde.

CAROLYN CUMMINS David Jones has opened its first new Sydney store in seven years and the first since its sale to South Africa’s Woolworths Holdings.

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