Retailers applaud George St mall plan
Retailers and property owners along Sydney’s George Street have welcomed council plans to turn parts of the thoroughfare into a pedestrian mall with a light-rail service running down its length.
Flat housing stamps out duty cash
Western Australia’s predicted stamp duty revenue has been slashed by $836 million over the next four years thanks to the state’s flat housing market.
Cromwell rebels against tax
Cromwell Property Group chief executive Paul Weightman has urged the property industry to reject a surprise federal government tax hit on foreign real estate investors or risk lower property values.
Give St Hilliers stick, says minister
St Hilliers Construction has restarted work on four projects - one day after work halted as the company went into voluntary administration.
Perron outlays $690m in Centro deals
Perth-based billionaire Stan Perron has taken half stakes in three of Centro’s biggest shopping stakes, in a $690.4 million deal put together in little more than month.
Thakral attracts international interest
Rival suitors are crawling over buyout target, Thakral Holdings, a month after the Canadian real estate giant, Brookfield Office Properties, lobbed in its $410 million take out offer for the owner of the coveted Wynyard site in Sydney’s city centre.
Executive property
The top properties on show this week include a meticulously upgraded house with harbour views in Sydney’s Vaucluse.
Westfield on track for target
Retail giant Westfield Group has taken a hit on new and renewed leases in its Australian shopping centres as poor consumer sentiment hampers retail sales growth.
Barangaroo details emerge
Lend Lease looks set to take a 25 per cent stake in the first two office towers at its $6 billion Barangaroo project on Sydney’s harbourside, raising expectations that it’s close to unveiling the long-awaited tenant line up.
Shopping centres weaker in commercial sector
Australian commercial property returns are moderating – and weakening for shopping centres.
REITs pass baton to unlisted funds
Australian REITs are no longer the dominant owners of the nation’s office towers, shopping centres and warehouses.
Property trusts
Thakral attracts international interest
Rival suitors are crawling over buyout target, Thakral Holdings, a month after the Canadian real estate giant, Brookfield Office Properties, lobbed in its $410 million take out offer for the owner of the coveted Wynyard site in Sydney’s city centre.
Perron outlays $690m in Centro deals
Perth-based billionaire Stan Perron has taken half stakes in three of Centro’s biggest shopping stakes, in a $690.4 million deal put together in little more than month.
Hotels & leisure
Malaysians eye Marriott assets
The race for the Commonwealth Property Hotel Fund is coming to a head with Malaysia’s YTL Corp favoured to acquire the portfolio of three Marriott hotels.
Tough brew for small pubs
Scores of NSW publicans face a bitter brew of falling profits, mounting debts and rising business costs over the next two years as the profligacy of the boom years continues to take its toll on the industry.
Leasing
Rio’s Pacific Aluminium in $6m Brisbane lease deal
Mining giant Rio Tinto’s Pacific Aluminium business has agreed to take 2400 square metres of office space in Brisbane city in a deal valued at about $6.6 million.
NBN on call at Varsity Lakes
NBN Co, the company building the National Broadband Network, has take a 1500 sq m tenancy on the Gold Coast at Varsity Lakes for its national call centre.
Sales & auctions
Blue sky towns not immune from risks
Stratospheric rental yields and capital growth bring investors to mining towns – but beware the risks when mines shut down.
Tullamarine facility brings $7.3 million
An industrial office-warehouse facility in Tullamarine in Melbourne’s north-west has been sold to a private investor for $7,312,500, representing a yield of 10.47pc.
Housing finance
Home loans stuck in the slow lane
Sluggish home-buying activity showed little improvement in March, though experts had expected a decline as the economy lost pace early this year.
Property briefs
Jones Lang LaSalle was named Australia’s best property consultancy at the International Property Awards Asia Pacific 2012-13. CBRE was highly commended.
Construction & engineering
Gillard contrasts Ichthys success with euro crisis
Prime Minister Julia Gillard has used the official ground-breaking ceremony at Inpex’s $US34 billion Ichthys LNG project in Darwin to reiterate the boost resources are giving to the Australian economy.
Give St Hilliers stick, says minister
St Hilliers Construction has restarted work on four projects - one day after work halted as the company went into voluntary administration.
Industrial property
Melbourne industrial property shines
A major logistics centre at Altona North, in Melbourne, has sold for $13 million. The sale reflects strong interest in industrial property in the city.
Tax rise changes sums for Mapletree
Singapore’s Mapletree Logistics Trust is recalibrating its figures on a $500 million deal with Stockland following last week’s surprise tax increase for foreign real estate investors.
Residential infrastructure
Coast clear but Surfers can’t catch one
The Gold Coast apartment market is finally seeing some light at the end of the tunnel – except in Surfers Paradise.
Vic refines planning
Victorian Planning Minister Matthew Guy says red tape will be slashed as part of the state’s review into its planning system, responding to a report that has called for a simpler process and a clear, long-term vision.


