Latest
Beware ‘unknowns’ in Lendlease’s $4.5b turnaround, say old hands
“If you’re going to exit today, tomorrow, the next day, you’re going to leave a lot on the table,” a former executive said.
- Nick Lenaghan
- Opinion
- Chanticleer
The two forces driving Lendlease to tear itself apart
For 66 years, Lendlease has been an icon of Australian business. But its global ambitions lie in tatters after a reckoning that’s been coming for decades.
- James Thomson
Central Coast builder for Woolies and Singo collapses
Stevens Construction built a number of supermarkets and malls for Woolworths and also completed residential projects for John Singleton.
- Larry Schlesinger
Lendlease seals truce with activists in radical reset
The property giant expects its new strategy to free up $4.5 billion of capital and will sweeten the deal with a $500 million share buyback.
- Updated
- Aaron Weinman
Perth, Brisbane and Adelaide apartments poised to outperform
Fewer property valuers expect demand to rise in the next 12 months, but more are still predicting higher prices due to scarce supply.
- Nila Sweeney
Co-working is moving to the suburbs
With hybrid work the new norm, the industry is betting on sedate suburban and small-town locations where employees of big companies go to escape their homes.
- Justin Fox
How it Sold
First home buyers purchase from investors in $780,000 sale
This Central Coast home’s proximity to the M1 highway made it popular with tradies commuting to Sydney – and with rates outlooks stabilising, they were confident about buying.
- Michael Bleby
The complicated $1.8m sale of a ‘gamble’ that didn’t pay off
A suburban family bought their neighbours’ house to give them a larger block, but when interest rates went up further something had to give.
- Michael Bleby
Luxury Property
Point Piper mansion sells on the quiet for $80m-plus
Point Piper mansion Rockleigh has sold for over $80 million, clocking the highest price for a property so far this year.
- Bonnie Campbell
Rich foreign property buyers are not the problem, their agents say
Luxury property “concierge” Monika Tu says Peter Dutton’s plan to ban foreign property buyers for two years is “absolutely ridiculous” and could fuel perceptions of racism.
- Bonnie Campbell and Nila Sweeney
More From Today
Barry Sternlicht’s $15b real estate fund limits withdrawals
There’s trouble when an REIT fears it won’t have enough cash to pay investors back because the rate of withdrawals is higher than the amount of money coming in.
- Maureen Farrell
Former analyst pays $48m for Brisbane office tower
Jacob Fong has taken a deep dive into the Brisbane office market and uncovered good buying opportunities in the city’s Midtown precinct.
- Larry Schlesinger
Lendlease takes $1.48b hit | Optus loses appeal | Canva’s rap message
Read everything that’s happened in the news so far today.
- Updated
Yesterday
‘Strong spring’ for property sales is in the RBA’s hands
Auction clearance rates are holding steady even as the number of properties listed ticks up. Where the market goes from here depends on what the RBA does next.
- Nick Lenaghan
Madrid leads European house price gains with double-digit surge
Housing shortages are fuelling dramatic price increases in Europe’s major cities. Madrid has been particularly affected by an influx of Latin American money.
- Ainhoa Goyeneche and Fabiola Moura
Rest Super-backed Cibus to push into carbon farming and robotics
Cibus Capital will make a big push into regenerative farming and will use the latest robotics to expand one of the country’s biggest seedling growers.
- Larry Schlesinger
Point Piper mansion sells on the quiet for $80m-plus
Point Piper mansion Rockleigh has sold for over $80 million, clocking the highest price for a property so far this year.
- Bonnie Campbell
This Month
Rich foreign property buyers are not the problem, their agents say
Luxury property “concierge” Monika Tu says Peter Dutton’s plan to ban foreign property buyers for two years is “absolutely ridiculous” and could fuel perceptions of racism.
- Bonnie Campbell and Nila Sweeney
How South Korea’s giant pension funds fell prey to $395m NDIS housing scam
The elaborate fraud succeeded by making grand claims, name-dropping Australia’s biggest property players, and was only discovered by chance.
- Michael Bleby
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
Why Australia is falling behind the world in building houses
The nation is building thousands fewer homes than other countries, with Victoria and NSW experiencing the longest development approval delays.
- John Kehoe
- Exclusive
- Luxury property
Racing heavyweight lists $5.3m penthouse with three terraces
Steve Rosich, who resigned as CEO of the Victorian Racing Club, is selling his Toorak penthouse, while former David Jones CEO Mark McInnes has completed his mansion upgrade nearby.
- Bonnie Campbell
- Exclusive
- Luxury property
Rich Lister behind Lego movies buys $12m Byron digs
Animal Logic co-founder Zareh Nalbandian has paid $12 million for a Byron escape after selling his animation studio to streaming giant Netflix.
- Bonnie Campbell
- Exclusive
- South-east Queensland
Miles gives in to councils with $350m bid to fast-track housing
The Queensland premier will unveil a new fund to fast-track housing development in urban areas across the state, incentivising developers to transform industrial zones and low-density suburbs.
- James Hall
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
How pension funds turned UK student accommodation into a cash cow
Unlike the shared houses of old, student accommodation is fast becoming the domain of luxury. Underpinning this sea change is a wave of institutional investment.
- Melissa Lawford
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
Home buyers pay up to 53pc more for a ‘green’ home
Properties with eco-friendly attributes such as solar and double glazing are selling faster for more, according to Domain.
- Nila Sweeney
