Cromwell lobs $3b bid for Investa Office Fund
Cromwell Corporation has ended months of speculation by making an after-market unsolicited, indicative, non-binding proposal for Investa Office Fund, valuing it about $3 billion.
Property
Suburban shops selling for record rates
A Carnegie shop sets new record for a sale in the area on a record low yield of 2.53 per cent.
Menswear retailers on the move
Melbourne's Collins Street menswear retailers are on the move with both Fletcher Jones and MJ Bale taking new spaces.
Broadway Plaza in Punchbowl goes for $41.2m
Real Asset Management Group has emerged as the buyer of the Broadway Plaza, Punchbowl, paying $41.2 million to creditors PPB Advisory.
Land sales increase to $13 billion
Australia's greenfield residential land market grew 6 per cent last year with 57,381 lots released, according to a new State of the Land report.
Walker Corp kicks off $2b Parramatta project
Walker Corporation has moved a step closer to the rejuvenation of the $2 billion Parramatta Square precinct
Charter Hall undertakes $200m debt placement
Property landlords are now weighing into the favourable debt markets.
Gen Z attracted to social bricks-and-mortar shops
Offering the on trend clothes with an internet option to collect and providing a social meeting place, will always entice the Gen Z spenders into a physical shop
Six childcare centres up for grabs
A portfolio of six newly developed Victorian childcare centres offered to the market for the first time are expected to fetch $50 million.
Ixom signs anew at 1 Nicholson
Chemicals company Ixom has renewed its lease on Melbourne's first glass skyscraper in the north-east fringe office precinct. Charter Hall's Direct Office Fund has leased three floors at 1 Nicholson Street, the 12-storey tower built for Orica in 1960. Ixom, formerly Orica's chemicals arm, was sold to the Blackstone Group in 2015
Melbourne University to offload Sturt Street car park site
Melbourne University has moved to offload a large vacant site in Southbank now used as a public car park as it seeks funds to build the new home for the Melbourne Conservatorium of Music nearby.
Former Sydney hotel transformed into pop-up home for vulnerable youth
Developer TOGA and real estate investor Qualitas have transformed the former Addison Hotel in Kensington in Sydney's east into pop-up accommodation for vulnerable youth, after donating the vacant building for a minimum of 12 months while it awaits development approval.
ASIC joins interest-only home loan crackdown
The corporate watchdog has announced targeted surveillance of lenders and mortgage brokers who are inappropriately spruiking interest-only loans.
Another millionaire cashes in on apartment boom
Robert Le Tet – a low-profile member of Melbourne's establishment for more than three decades – is the latest businessman seeking to replace his company's inner-city headquarters with an apartment building.
Home builders have mixed response to APRA changes
Home builders have given a mixed reception to the move by APRA to tighten the lending practices on interest-only and investor loans.
Large-format retailing is hot ticket
Retailers Gerry Harvey and Brett Blundy are expected to be in the mix of interested parties for the $400 million-plus Home Hub portfolio in Sydney's hills district that is being sold by the LaSalle Funds Management.
City fringe office rivals CBD market
The sale of a freestanding office building in Hornsby by the Abacus Property Group for $22 million, on a yield of 5.6 per cent, reflects the increasing demand for suburban offices, according to agents.
Pharmacies are on the march for more space
Large-scale pharmacies are stepping up their presence to become a major "disruptor" as they compete for space in malls and neighbourhood shopping strips.
More borrowers falling behind for first time on mortgage
More borrowers are falling behind for the first time on their mortgage repayments, credit ratings agency Standard and Poor's says.
Commons poised for growth
Melbourne's second largest co-working space operator, The Commons, is planning a third office in the hip commercial precinct of Cremorne.
Haileybury's vertical school fights high-rise development next door
Upmarket private school Haileybury College is fighting to stop a 24-storey hotel development next door to its city campus that it fears will overlook and overshadow students and classrooms.
Need for action in Sydney’s Core
Over 2016 the options available for tenants to take up whole-floor lettings in prime grade buildings in the Sydney CBD fell by a nation-leading 93 floors.
Hotel sector under the spotlight
Recent trading activity in the listed Mantra Group is linked to a possible takeover.
State government lists $95m Parkville apartment block
The substantial Parkville apartment complex which made headlines in 2013 when it was revealed the now shelved East West Link road project would straddle it, is being sold by the Andrews government.
Deals and Deeds
AUBURN $6.66m.
Another millionaire cashes in on apartment boom
Robert Le Tet is the latest businessman seeking to replace his company's inner-city headquarters with an apartment building.
Community centre rises from Point Cook plains
Planning a community generally starts in advance of people building foundations.
Home owners in limbo after collapse of Watersun
Home owners caught up in the Watersun Homes collapse say they have been left with homes so faulty or incomplete that other builders have refused to work on them.
Mantra Group share surge as hotel sector booms
Mantra hotel group has seen its shares surge 12.6 per cent, amid a fresh round of takeover speculation.
Sub-$500,000 properties in demand with investors, owner-occupiers
A strata titled warehouse sold within a week of hitting the market for $480,000, a rate of $2000 per sq m.
Small Business
'Pretty close to extortion': Mars, Kellogg's and Fonterra pushing loans on small business
The small business ombudsman says big businesses including Mars, Kellogg's and Fonterra have a gun to the head of small businesses with their loan schemes.
Tax deductions without a benefit, are a loss
It is an unfortunate fact of life that too often business owners have a total aversion to paying income tax.