This Month
- Exclusive
- Tax avoidance
Lendlease hit with $112m tax bill over retirement business
The property group has been hit with an initial $112 million bill from the Tax Office, in a dispute that could ultimately cost it more than $300 million.
- John Kehoe
- Investigation
- Rich List
For this Rich Lister, does the reality live up to the hype?
Property mogul and entrepreneur Shaun Bonett has a fortune of more than $2 billion, according to the Rich List. Those valuations might not live up to the hype.
- Primrose Riordan and Nick Bonyhady
- Exclusive
- Hotels
Adgemis, fighting fires, now has the Tax Office at his door
The Tax Office is knocking on the door of Jon Adgemis’ embattled pub group for more than $10 million as the former KPMG rainmaker attempts to save his empire.
- Max Mason and Primrose Riordan
April
Another 10pc fall tipped for office tower values before bottoming
CBD office tower values have been battered by the shift to remote and flexible work, uncertain business conditions and high rates.
- Nick Lenaghan
- Exclusive
- Food & drink
Jon Adgemis’ lender pushes to sell his Darlinghurst Hotel
Another lender does not want the sale to go ahead. The crisis highlights the rosy valuations of the indebted pub baron’s properties.
- Primrose Riordan
Adgemis’ Bondi auction looms as Deutsche, Gemi try to muster a deal
Angas Securities said it had turned down two proposals from the bank, which is negotiating a $500 million refinance, and is trying to get its money back.
- Primrose Riordan and Max Mason
The homeschooled billionaire who built a fortune before turning 40
Shaun Bonett was the country’s richest person under 40 in 2007. Now a billionaire, he shares his story, including a humiliating $25 million mistake.
- Julie-anne Sprague
MA Financial taps the high-yield bond market
The deal might help small-cap managers eyeing the stock figure out its true cost of capital.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Investigation
- Food & drink
Jon Adgemis’ high-wire act is coming unstuck
The former KPMG dealmaker burst onto the hospitality sector after buying up a string of venues. Huge debts and angry lenders are threatening to push it over.
- Primrose Riordan and Sarah Thompson
Jon Adgemis’ Public Hospitality Group puts first pub on the market
The proposed sale of the Empire Hotel in Sydney’s inner west suburb of Annandale comes after the collapse of a refinancing deal with Bain Capital this month.
- Primrose Riordan
Jon Adgemis races for rescue deal in talks with Deutsche Bank
Bain Capital formally walked away from a $500 million-plus refinancing of his empire last weekend.
- Primrose Riordan
- Exclusive
- Information security
Valuation firm HTW suspended by banks after data breach
The company, one of Australia’s three largest valuers, gave no details of the incident and declined to say if it was a ransomware attack.
- Updated
- Michael Bleby
HMC Capital doubles down and increases stake in embattled Lendlease
David Di Pilla’s investment firm has increased its holdings in the construction giant a week after backing its management team.
- Aaron Weinman
- Exclusive
- Food & drink
Publican Jon Adgemis’ luxury yacht not safe from creditors
Lenders tipped a company which owns the vessel into receivership last month – before handing it back. He is attempting to refinance his sprawling hotel empire.
- Primrose Riordan and Sarah Thompson
- Opinion
- Gender pay gap
How to fix construction’s female problem
The gender pay gap in construction is entirely not surprising when the female participation in the industry is so low. Here are five strategies to fix it.
- Alison Mirams
Former Tattarang chief Andrew Hagger pops up in Adgemis’ corner
The one-time National Australia Bank executive has been assisting the businessman with his pub empire as it struggles to lock in a much-needed refinancing.
- Aaron Weinman and Max Mason
Scape closes third joint venture with $1b student housing fund
The private developer of purpose-built student accommodation has paired again with funding partners APG and Ivanhoe Cambridge to develop 3000 new rooms.
- Michael Bleby
- Exclusive
- Investment banking
Lendlease calls in three banks as it considers structural change
The global property developer is facing calls from its major shareholders to carve off its international division. Its advisers are now exploring its options.
- Aaron Weinman
Wylie finds heavyweight backers in push to break up Lendlease
Allan Gray, which owns 6.2 per cent of the struggling property giant, expects the sale of its overseas assets could extract up to $4 billion.
- Aaron Weinman
- Exclusive
- Commercial real estate
Wylie urges Lendlease to fix ‘arrogant’ culture
In a letter to the property giant, Tanarra Capital made eight recommendations it said was needed “not just for future success, but for its survival”.
- Aaron Weinman
