Property Focus

 
Two of the big four banks have dismissed predictions of a looming property slump.

Bank bosses reject house price bubble fears

James Eyers 3:36 PM   The heads of two of Australia's big four banks have hit back at predictions of a sharp correction in house prices.

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Capital Gain: VCAT approves shady Flinders Street tower

Caydon's 14-level apartment at 443 Upper Heidelberg Road.

Marc Pallisco 5:00 AM   A proposed Flinders Street skyscraper which would cast a shadow over the Yarra River banks has been approved by the Victorian Civil and Administrative Tribunal after some cosmetic amendments and a (one-level) height reduction.

Deals and Deeds

An undisclosed vendor has sold a 1360-square-metre Wetherill Park industrial site, 11 Verrell Street, to The Verrell Unit Trust for $1.9 million.

Carolyn Cummins 12:31 PM   Sen Yuan Development has sold a 2330-square-metre development in Homebush for $15.5 million.

The office cubicles of tomorrow

Artist impression of interior of Mirvac's new headquarters at 200 George Street, co-owned by AMP Capital Wholesale Fund.

Carolyn Cummins   With the billions of dollars of major projects under way in all capital cities, a large proportion in the commercial sector, building an office for the future is at the forefront of all designs.

ALE Property under takeover threat

Crows Nest Hotel, Sydney, one of the 86 pubs in the ALE Portfolio.

Carolyn Cummins   The merger and acquisition season is in full swing, with the country's biggest listed pub owner, ALE Property, the latest to receive an offer.

New CBD skyscraper rules 'stunned' Asian investors

Interim measures on the height and density of skyscrapers have undermined investor confidence, a planning consultancy and real estate agents have warned.

Benjamin Preiss, Clay Lucas   Asian investors in Melbourne's CBD have been "stunned" by new rules restricting skyscraper density in the city centre, a planning consultancy that works extensively with overseas firms building apartment towers has warned.

Falling house prices to hit CBA, NAB hardest

Macquarie economists believe home values are set for a 7.5 per cent decline from March next year.

Stephen Cauchi   Companies from banks to retail are going to be affected by the forecast housing slowdown, Macquarie analysts say.

Coburg market site could fetch $35m

Feb 28 - Coburg Market. Copyright Richard Cornish 2015. All Rights Reserved

Nicole Lindsay   Coburg's Batman Markets has been listed for sale as new planning regulations for the northern suburb seek to fast-track $1 billion of investment.

Koreans snap up ATO offices for $230 million

Korean-based FG Asset Management has just bought its second Australian Taxation Office building.

Simon Johanson   Korean-based FG Asset Management has pounced on another Australian Taxation Office building, this time in Albury, in a deal that will hand Andrew Roberts, whose family founded the construction group Multiplex, $64.8 million.

Planning uncertainty puts heat in City Road development sites

An artist's impression of 256-260 City Road, set to occupy one of the few remaining substantial development blocks on the strip.

Simon Johanson   New planning rules requiring minimum setbacks and plot ratios on city development sites may be driving up the value of land with existing permits, agents suggest.

Approved La Trobe Street tower to be among final thrusts of 'bygone era'

Opposition Leader Matthew Guy approved more than 70 Melbourne skyscrapers during a four-year stint as planning minister.

Simon Johanson and Nicole Lindsay   A soaring 44-storey tower in La Trobe Street may be Melbourne's last testament to the man dubbed "Mr Skyscraper" – Liberal Opposition Leader Matthew Guy – after the high-rise from a "bygone era" was given the green light by Victoria's planning tribunal.

Philip Morris to blow out of Moorabbin

The Philip Morris factory at 254-258 Chesterville Road, Moorabbin

Nicole Lindsay   Tobacco company Philip Morris has listed its 6.2 hectare Moorabbin headquarters for sale ahead of a shift into the city.

Market Wrap: Brighton office sells for the first time in 109 years

The former office of one of the first real estate firms in Brighton, 103 Church Street sold for the first time in 109 years.

One of the longest-held buildings in Church Street sold for the first time in 109 years.

Polaris lights up Bundoora as investors target retail site

The Polaris 3083 development in Bundoora.

Simon Johanson   Developer DealCorp​ is set to begin construction on shops in a building that will also house 22 apartments – called Summit 22 – on its Polaris estate next to La Trobe University.

Grocon snaps up Imax site for $70m

Artist's impression of The Ribbon project, which Grocon is planning for the Imax site at Sydney's Darling Harbour.

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

All roads lead to the south-west

Liverpool Plains area, where land is in high demand

Carolyn Cummins   The focus on the south-west region of Sydney has seen a rise in sales as developers scramble to get a foothold into the area to cater for the demand for new homes and infrastructure.

CBD retailing shake-up needed

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

Carolyn Cummins   The opening of Swedish retail giant H&M; Australia's new store in Pitt Street Mall will be the final piece of the puzzle to the shopping strip.

St Leonards on the radar

Artist impression of new development at Holdworth Street, St Leonards, where a block was sold for $66 million through JLL.

Carolyn Cummins   Amid the large residential superlot sale where nine houses were sold for a combined $66 milion, the office sector in the area is also on the radar, with close to 10,000 sqm of lease deals negotiated in recent months.

Old Gundagai Hospital and Health Centre on the market

The old Gundagai Hospital and Community Heath Centre is on the market through LJ Hooker Commercial Sydney.

Carolyn Cummins   New retirement villages scheduled for construction over the next three years are expected to create more than 100 new jobs in New South Wales regional centres.

Hotels in hot demand

Rydges hotel Sydney central owned by the Schwartz Family Company.

Carolyn Cummins   Sydney's hotel sector is getting very tight with operators now seeking out new sights and different methods to increase room numbers to cope with expected rise in tourism, boosted by the softer Australian dollar.

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   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.

Consumerisation of the workplace

Co-working operators are largely viewed by property owners as no different to any other occupier - they sign a lease and operate a business.

John Preece   The growth of co-working operators could have a major impact on the property industry.

Sentinel sells Menai site

Sentinel Property Group has completed the sale of a stand-alone KFC outlet at its Menai Central retail complex, in Sydney's southern suburbs, for $3.05 million.

Carolyn Cummins   Sentinel Property Group has completed the sale of a stand-alone KFC outlet at its Menai Central retail complex, in Sydney's southern suburbs, for $3.05 million. Sentinel, which acquired Menai Central in 2013, has sub-divided and sold off the drive-through KFC takeaway food outlet to a private investor.

Leasing ladder

Suite 9.01, 50 Margaret Street has been leased by Ashdown Consulting.

Carolyn Cummins   LANE COVE $247 sqm net.

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.

Moody interior complements fine dining experience

HBA Melbourne's redesign of Estelle by Scott Pickett (ESP) in High Street, Northcote.

Stephen Crafti   Initially there was the Estelle Bistro and now there's Estelle by Scott Pickett, chef and owner.

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.