Myer family sells St Kilda Road office for $77m
The Myer family has sold a seven-level office on Melbourne's premier leafy boulevard St Kilda Road to acquisitive Singaporean Tong Eng Group for close to $77 million.
The Myer family has sold a seven-level office on Melbourne's premier leafy boulevard St Kilda Road to acquisitive Singaporean Tong Eng Group for close to $77 million.
Owner and operator of retirement communities, Aveo, has said sales of its assets are on the rise, but warns sales rates for its biggest revenue generator, the established business, would be at the "bottom end" of forecasts.
The new retail and residential entrants and revamped stores has helped consolidate Sydney's Pitt Street Mall, Melbourne's Bourke Street Mall and Queen Street, Brisbane's positions as some of the most expensive places in the world to rent a store.
Hardware giant Bunnings has sold four newly-built stores to CBRE Global Investors in a $180 million deal that recalibrates values in the sought-after sector.
Increasing competition for rental homes has become one of the key knock-on effects of Sydney's crushingly expensive housing market.
Melbourne's office market outperformed the rest of the country over the third quarter of this year with a rapid decline in incentives, strong effective rental growth and tightening vacancy, according to CBRE research.
The Bamm Group, owners of the Elermore Shopping Centre, have sold their neighbourhood mall in Newcastle to a private syndicate for $18 million
Developer Lang Walker, Parramatta City Council and Property NSW, have broken ground on his $2.4 billion Parramatta Square site
After its rock star-like opening and fast expansion program, it is understood Zara fashion group is in talks to break its lease at the QIC-owned Robina shopping centre on the Gold Coast, due to the challenging retail sector.
A syndicate has snapped up Benetas' head office in East Hawthorn, paying $24.65 million on a 5.5 per cent yield.
A vacant two-level office building at 320 Kings Way sold under the hammer for $1.22 million, at a building rate of $5,550 per sq m.
The amount of cash flowing out of China into property has halved within a year but Australia is still the preferred destination for Chinese investors able to get their money out.
​Sydney home prices have again fallen while Melbourne's have remained flat, but more properties have gone under the hammer and the national auction clearance was higher last week.
Global technology titans including Amazon.com, LinkedIn and Expedia are congregating in Sydney's central business district, providing a commercial property fillip just as Australia's record housing boom starts to tire.
As property prices come off, but wages fail to grow, people are much more sensitive to interest rate hikes, says UBS.
Developer Tim Gurner is set to launch a luxury Melbourne apartment complex in a joint venture with a branch of the wealthy Smorgon family.
Trucking magnate Lindsay Fox and property veteran Max Beck have been underpaying land tax at Essendon Airport, a site they lease from the federal government in Melbourne, court documents allege.
Lendlease has expanded its presence in the engineered timber building sector after lodging a planning application with the Department of Planning and Environment for a second office property at Barangaroo South.
Investors are being pushed out of Australia's housing market with government regulations generating a 6 per cent drop in investor loans as first home buyers record "strong growth" for the first time in years.
Co-working office operators are going after growth in the corporate market, boasting of 25 to 30 per cent savings on the cost of a traditional office lease.
Pub tsar Justin Hemmes has cemented his position as the largest single owner of popular Sydney pubs, splurging more than $70 million on the purchase of three major hotels over the past three months.
The move to offer fast food in a more restaurant-style format is being embraced by all operators as they strive to make customers linger for longer.
Darlinghurst's Tropicana Caffe – the birthplace of the world's largest independent film festival, Tropfest – has sold before auction for $6 million.
Father and son property players Michael and Sebastian Drapac have begun to sell down the once-distressed assets in their US funds as they reposition themselves for another American property venture.
Amazon's expansion in Australia will accelerate growth in the online retail market and this will result in reduced growth in turnover of some shopping centres.
FOMO ('fear of missing out') is a thing, it's real and in fact it's the principle that the residential property market in Australia has played on for years and is why auction is the preferred method of sale in NSW.
SYDNEY $2,390 sqm net.
Warren Ebert's Sentinel Property Group has flipped a second Melbourne commercial asset in as many months.
Heritage is not just confined to period buildings. It can cover gardens, shipwrecks, archeological sites or even tram depots.
Plans for a permanent park at the intersection of Flinders and Elizabeth streets have been postponed until after a $40 million revamp of an office building on the corner has been completed.
Wedding celebrants and florists are expecting a boost in business when marriage equality laws are passed.
An increasing number of retailers should be in the black for this Christmas period.
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