Yesterday
Man behind $395m NDIS investment fraud gets 12 years in prison
The verdict brings to an end a criminal matter in which the former property developer used fake documentation to secure financing from Korean pension funds.
- Michael Bleby and Campbell Kwan
This Month
Property fund manager’s stock pops as it says goodbye to Europe
In a transformational deal, long struggling Cromwell has sold out of its European exposures, sending its stock surging as investors welcomed the move.
- Nick Lenaghan
Coles property boss says building woes could force up grocery prices
Coles property boss Fiona Mackenzie says not being able to deliver new supermarkets as planned could force up the prices of grocery items.
- Larry Schlesinger
Cromwell sells European platform for $457m; eyes on ESR
In particular, banks would be gauging industrial property player ESR’s interest in chipping away at its 30 per cent stake in Cromwell Property Group.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Cobbler counts the cost of fewer feet as CBD economies lose $4.3b
Cities are getting 370,000 fewer office worker visits every day compared to pre-pandemic, which has led to CBD-based businesses struggling to make ends meet.
- Campbell Kwan
Lendlease chairman to step down | Billabong founder’s $50m tax hit | Eight injured in Singapore Airlines flight
Read everything that’s happened in the news so far today.
- Opinion
- Chanticleer
Lendlease change can’t stop with chairman’s retirement
The retirement of Lendlease chairman Michael Ullmer will be welcomed by the company’s small army of critics. But it’s what happens next that counts.
- James Thomson
Lendlease chairman to step down at AGM
Michael Ullmer has confirmed he will step down at the company’s shareholder meeting in November, but disgruntled investors want more action than that.
- Nick Lenaghan and Joshua Peach
Australian Unity Office Fund in exclusive DD for St Kilda property
Street Talk understands the $220 million market cap fund is in exclusive due diligence with a buyer for its St Kilda Road property.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Press ‘go’ on the $20b boom in renewables development
Renewables construction will hit $20 billion annually by 2026/27 as the country races towards ambitious carbon targets and coal-fired power stations close.
- Nick Lenaghan
- Exclusive
- Hotels
Collins Street tower to appeal to return-to-office ‘boltholers’
Developer Sterling Global believes corporate high-flyers commuting into town from regional locations on a more regular basis will want a CBD bolthole.
- Larry Schlesinger
Accor readies Melbourne Airport hotel and co-working hub for take-off
The hotel offering of 464 rooms across two Accor brands – a Novotel and ibis Styles – will include a two-level co-working hub when it opens on July 1.
- Larry Schlesinger
- Exclusive
- Industrial
ISPT to put $250m of logistics sites on the market
The super fund investor is trying to turn around its flagship fund by selling three industrial sites. It plans to recycle that capital into larger sites.
- Campbell Kwan
Fund manager busy buying assets in a struggling office market
Brisbane-based Exceed Capital has snared its second office building in nine months and is now circling bigger CBD assets
- Larry Schlesinger
- Exclusive
- Retail property
UBS bets on co-working and bowling to fix troubled Melbourne mall
UBS has secured two big tenancies for St Collins Lane, an arcade in the Melbourne CBD that has been one of the city’s worst performing malls for years.
- Larry Schlesinger
The battle for the streets of New York
The Big Apple’s streets are teetering between lively and unlivable. Now, the city is about to embark on the country’s first congestion-pricing plan.
- Dodai Stewart
- Exclusive
- Office
Why this $103m office on Sydney CBD fringe sold at no discount
Listed property fund manager Centuria has sold its Biomedical Building to Kurraba Group for $103 million.
- Campbell Kwan
Aware Super wants a new chairman at Lendlease, fast
Lendlease’s biggest investor has called for an external candidate to replace Michael Ullmer, and urgently steer the embattled developer’s turnaround.
- Nick Lenaghan
Rural Funds, SA winemakers list $80m of cattle stations
Rural Funds is selling two cattle properties in Queensland’s Gulf of Carpentaria, while the SA-based DiGiorgio family is selling Aroona Station in the NT.
- Larry Schlesinger
- Exclusive
- Commercial real estate
Mall war: Kevin Seymour accuses Dexus of anticompetitive conduct
The Rich Lister is accusing Dexus of acting anti-competitively for blocking his proposed Brisbane precinct to protect its own retail asset down the road.
- Campbell Kwan
