Property Focus

 

DEXUS and Investa Office sign next step for $2.5 billion merger

DEXUS will own assets such as 567 Collins Street.

Carolyn Cummins 4:27 PM   ​ The country's premium-grade office market is set for a shake up after DEXUS Property and Investa Office agreed to proceed with the proposed $2.5 billion takeover.

Lendlease signs first commercial tenant for $1.9b Melbourne Quarter

Lendlease has signed the first tenant for Melbourne Quarter, the city's $1.9 billion new economic heart. Global design and engineering firm Arup will relocate its Victorian workforce to the commercial tower, One Melbourne Quarter.

Carolyn Cummins 3:25 PM   Lendlease's $1.9 billion Melbourne Quarter has signed the design and engineering group, Arup as the first tenant for the mega project opposite Southern Cross Station.

Triguboff sticks with property as stocks are 'terrible'

Harry Triguboff

Narayanan Somasundaram and Andreea Papuc   Harry Triguboff sees property as among the few attractive investments in the nation amid rising rents and a "terrible" stock market.

Liverpool adds $120m apartment block to its skyline

Rothelowman's design of Liverpool Central at Bigge Street features two medium-rise towers with a combined 240 apartments.

Carolyn Cummins   Liverpool in Sydney's west is set for a new $120 million development that comes as the area is set to expand dramatically with the proposed second airport and new infrastructure projects.

Banksia Hotel sold for $13.5 m to Singaporean fund

The Banksia Hotel, Rockdale, a large format gaming hotel in the south-west Sydney corridor has been sold to a Singapore-based fund for $13.5 million.

Carolyn Cummins   Investor demand for pubs has been extended offshore with a Singaporean fund paying $13.5 million for the Banksia Hotel in Sydney's Rockdale.

Vicinity looks at $1b asset sales

Chadstone shopping centre.

Carolyn Cummins   Retail landlord Vicinity Centres is preparing to sell up to $1 billion in assets across the country and reinvest the funds into new centres and where possible, Direct Factory Outlets, in the coming year.

Massive $1b boost to Goodman, DEXUS property values

Leasing success, tenant retention and rental growth at 1 Farrer Place have contributed to a $108.3 million increase in property value.

Carolyn Cummins   DEXUS​ Property and Goodman Group have revealed that several properties will be revalued because of stronger rents, high tenancy demand and improving yields from capital growth.

Scentre strikes $2.85m deal with Booodl start up

Apps such as Boodl are increasingly aiding customers find perfect Christmas gifts.

Carolyn Cummins   Shopping is not everyone's most enjoyable way to spend a day, particularly wandering around a mall trying to locate the stores selling the items on your list.

The dynamics of retail leasing in the Sydney CBD

Artist impression of 55 Market Street, Sydney.

Carolyn Cummins   Sydney retailers are set for a new round of musical chairs as they jostle for space as part of the NSW Government's move to buy properties for preparation of the planned Metro stations.

Fife Capital buys Goldsborough Mort Building for $25 million

Sydney-based Fife Capital has paid just over $25 million for the Goldsborough Mort building at the north-east corner of Bourke and William streets.

Marc Pallisco   Sydney based Fife Capital is paying just over $25 million for a CBD property considered one of Melbourne's most architecturally significant and imposing heritage bluestone wool-stores.

City Tattersalls votes for $200m redevelopment

New impression of the City Tattersalls Club, to be developed in Sydney CBD into hotel and apartments.

Carolyn Cummins   Sydney's skyline is set to get a new crane when members of the City Tattersalls Club voted overwhelmingly to approve development of the Pitt Street building's airspace into an estimated $200 million apartment and hotel complex.

Hot Property

Urban Taskforce chief executive Chris Johnson.

Chris Johnson   With Sydney's dwelling approvals running at 70 per cent for apartments there is clearly a big shift underway to a more urban way of living.

Leasing ladder

Bison Group P/L has leased a 1480sqm warehouse at 10 Garner Place.

Carolyn Cummins   INGLEBURN $100 sqm net

Stephen Crafti: Black warehouse a modest advert for Big Red

A Prahran warehouse redesigned by Pandolfini Architects for advertising agency Big Red.

Stephen Crafti   Unlike many advertising agencies whose splashy signs clearly light up their building's facades, Big Red gives no clue as to what goes on behind its office's black exterior.

Housing boom leaves swathe of empty properties

A hidden glut of ghost houses: Empty houses abound as landlords keep properties vacant to focus on price gain, the report says.

Angus Whitley   The nation's three-year property boom is leaving its biggest cities awash with empty homes, a report shows.

Property investors backing out fast

Property investors are taking out fewer loans.

The steam is clearly coming out of the housing market, thanks to a sharp decline in the level of investor lending.

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Big property deals keep on rolling

Melbourne's Jam Factory on Chapel Street, bought by Newmark for $165 million.

Nicole Lindsay   The commercial property market is poised for another bumper year as increasing business confidence drive investors.

Cedar Woods plans strata office for western suburbs

Artist impressions of Newton Apartments by Cedar Woods at Williams Landing.

Simon Johanson   Perth-based developer Cedar Woods will launch a 5000 square metre strata office development next year and is planning a 50-room hotel at its Williams Landing estate in Melbourne's west to cater for growing employment demand.

CBD market stays hot

168 Bourke Street, Melbourne has been bought for over $18 million..

Nicole Lindsay   A local buyer has splashed out $18.2 million on a two-storey Victorian building on the corner of Bourke and Russell streets.

International influx lifts secondary rents

Restaurant Pomodoro Sardo is paying $250,000 a year for 250 square metres at 111 Lonsdale Street, Melbourne.

Simon Johanson   Melbourne CBD landlords are benefiting from a flood of international retailers whose commitment to large stores has pushed up demand and prices for secondary locations.

CIMIC North Sydney site gets new tenant

Jacobs has finalised the biggest leasing transaction in North Sydney this year after committing to occupy 6872 square metre of space in 177 Pacific Highway.

Carolyn Cummins   In one of the milestone leases for the year, Jacobs, a technical, professional and construction services providor, has signed space at the $413 million skyscraper at 177 Pacific Highway, North Sydney.

ISPT joins Villawood in Queensland residential venture

Villawood's Rory Costelloe and Tony Johnson have signed a joint venture with ISPT.

Simon Johanson   Super fund investor ISPT will increase its exposure to an upswing in Queensland's residential land market after signing a joint venture with Villawood Properties to develop part of its Helensvale project.

Market Wrap: Retail outlets still hot with investors

The home of GO KartSport Racing, the largest indoor track in Australia at 244-248 Chesterville Road in Moorabbin, has sold for $3.7 million.

Retail outlets are still in demand as the year draws to an end. A Heathmont news agency sold for $1.305 million to an overseas investor, a price more than $300,000 above reserve.

Chinese demand for Aussie homes down 15% - McGrath

Chinese buyers have been less interested in Australian property.

Narayanan Somasundaram   Chinese demand for Australian homes has dropped as much as 15 per cent from a year earlier as China's stocks tumbled and the economy slowed, according to real estate agent McGrath.

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IGA site sets benchmark for independents

Joseph Romeo with his mother Elisabeth, father Antonio and brother Anthoney unveiled their new IGA store in Sydney's MLC Centre.

Sue Mitchell   A new boutique supermarket in the heart of Sydney sets the benchmark for independent grocery retailers, says Metcash chief.

DEXUS in $2.5b offer for Investa Office

Deutsche Bank Place could soon be owned by DEXUS.

Carolyn Cummins   DEXUS Property has emerged as the preferred suitor for the listed Investa Office fund with the launch of an indicative, conditional and non-binding cash and scrip offer valued at $2.5 billion.

McGrath shares drop on debut

McGrath shares fell on their first ASX outing.

Narayanan Somasundaram   McGrath, Australia's first real estate agency to list on the stock exchange, fell 8.6 per cent from its initial public offering price on debut.

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Failed land banking company linked to Jamie McIntyre in liquidation

Jamie McIntyre at a Senate hearing into land banking schemes.

Simon Johanson   A failed land banking company linked to property spruiker Jamie McIntyre will be placed into liquidation amid concerns about $25.5 million of investors' funds.

What it takes to help your kids get into the housing market

New modelling has revealed what it takes to get on the property ladder.

Matt Wade   Those who receive a gift of $5000 or more from a parent are much more likely to own a home than others.

Millers Point, the future 'waterfront Woollahra'

No.1 Lower Fort Street sold for nearly $7 million.

Su-Lin Tan   Demand is high due to the nearby Barangaroo project, which has helped push some property prices up 20 per cent.