MORE HIGH-END CBD SALES

Ceerose expects all full-floor apartments in Eliza to have sold before completion A flurry of interest in the luxurious Eliza at 141-143 Elizabeth Street has developer Ceerose confident it will have just one full-floor apartment to sell by the end of next week. Three full-floor apartments sold before Christmas and another two have sold this […]

Leighton Properties on the home stretch – final stage of Erko approved and ready for release

Erskineville, rated one of Sydney’s most ‘in demand’ suburbs, is about to receive a boost to its housing stock. Leighton Properties and LaSalle Investment Management have just received DA approval for the final stage of their popular Erko residential estate, with a release planned in March. The much-anticipated final release will comprise 41 apartments in […]

Retail resurgence gives Double Bay’s property market a long-awaited boost

After being in the doldrums for more than a decade, Double Bay has sprung back to life, with many believing it is close to regaining its mantle as a Mecca for Sydney’s influential, talented and famous. New retailers have attracted a younger crowd, The Cosmopolitan Centre is buzzing again, a $50-Million Woolworths is about to open, […]

Fung confirms plan for $4bn resort on northern beaches

HONG Kong billionaire Justin Fung is moving ahead with his $269 million takeover of the Cairns casino but has confirmed his main plan for a casino in a $4.2 billion integrated resort on the city’s northern beaches. Cairns has had the one casino since the 1980s that is 70 per cent owned by French-based Accord […]

State acts to cool concern on assets sale

THE NSW government is expecting $70 million for two sandstone buildings in Sydney’s CBD, but it is fielding concerns from bidders about the lack of car parking and a heritage-listed clock tower that could cause renovation costs to skyrocket. Since its call for expressions of interest closed in December, the state has attracted interest from […]

Funds cash in on city unit boom

FUND managers AMP Capital and Charter Hall Group are the latest property owners hoping to cash in on Sydney’s apartment boom, with the groups set to offload two office towers to developers. They plan to sell older office buildings in separate deals worth more than $150m. If the deals go ahead, more than double that […]

Leighton breaks ground on North Sydney’s newest A-Grade commercial tower.

Construction is officially underway at 177 Pacific Highway, North Sydney’s first new commercial tower in six years, following a formal groundbreaking ceremony at the 2,418sqm site. The $413M, 40,000sqm, 30-level development is being developed by Leighton Properties and built by Leighton Contractors. It will become the Leighton Group’s new global hub, with the Group to […]

Barangaroo bound

An accounting and advisory firm is close to signing up as the anchor tenant for Lend Lease’s planned third office tower at Barangaroo, with details expected to be released at its results in late February. There are also suggestions among leasing agents that law firm Mallesons was looking to move into the third tower to […]

Lend Lease eyes Queens Wharf

DEVELOPMENT giant Lend Lease has registered its interest in the multi-billion-dollar casino and urban Queens Wharf redevelopment in the Brisbane central business district, according to sources. It is the fourth big player to emerge as a potential tender candidate, with The Australian revealing yesterday that Chinese developer Greenland Holdings Group is bidding for Queensland’s biggest […]

LEIGHTON PROPERTIES AND QUALITAS TO DELIVER THE HIGH LIFE AT BONDI JUNCTION – LAUNCH SET FOR MAY

Leighton Properties and joint venture partner Qualitas are tapping into the lifestyle potential of Bondi Junction, announcing the launch of a 20-storey apartment complex on the corner of Oxford Street and Hollywood Avenue in May. It will be called AQUA to reflect the iconic Sydney Harbour and ocean views achieved by most of the 129 […]

China titan stalks CBD project

AUSTRALIAN casino giants Echo Entertainment and James Packer’s Crown Resorts will face fierce competition for Queensland’s biggest urban and casino project, with Chinese behemoth Greenland Holdings Group bidding for the multi-billion-dollar Queens Wharf redevelopment in the Brisbane central business district. Greenland has applied to the Queensland government to submit a tender, with the group in […]

BROOKFIELD MULTIPLEX QUAY TO BUILDING’S SUCCESS

Brookfield Multiplex has completed construction of the $180 million brand new residential development The Quays on the corner of Docklands Drive and Harbour Esplanade, in Melbourne. The Quays is owned by MAB Corporation and comprises 600 apartments over two residential towers. The South Tower is 32 levels and features 115 one bedroom apartments, 142 two […]

Wagner family builds major airport in 18 months…now they want to build the $1.7bn road to it too

Not content with spending more than $100 million to build Australia’s first airport in 44 years, BRW Rich Family the Wagners are also bidding to construct the $1.7 billion road project which could make it a serious competitor to Brisbane Airport. With the final rock fill base at Brisbane West Wellcamp Airport set for completion […]

Little’s a big deal in rentals

PAUL Little’s private property company Little Group has made a $60.7 million offer for listed real estate services group Real Estate Corp. The 37c a share cash offer has been recommended by the directors of the once-financially stricken group. The directors together hold 58 per cent, giving Little Group control of the company. Mr Little, […]

Frasers to rethink city site

SYDNEY’S $2 billion Central Park development is set to become a student hub rather than a corporate area. Singaporean developer Frasers Property will reduce its planned office space for the precinct and instead use the space for student accommodation and more residential apartments. In a huge change of plans, it is understood that Frasers and […]

High rents aren’t hip: the contradictions of the ‘creative city’

Recent reports have confirmed what many already know: the cost of housing in Australian cities is among the highest in the world. The growth rate in Australian property prices over the last 15 years is the biggest sustained increase recorded anywhere. Australia also has the highest debt-to-income ratio – encouraged by generous tax incentives to […]

Aussie construction slows

The Australian Industry Group’s Performance of Construction index dropped 2.6 points to 48.2 in January, indicating the building sector is contracting. A reading below 50 points shows the sector is contracting; above indicates expansion. It dints hope that the industry was on a rebound after strong growth in house building propelled the broader construction sector […]

THE COST OF LIVING AT THE TOP IN SYDNEY

It’s not that high compared to other world cities You might think that life at the top in Sydney is expensive, particularly when a soon-to-be completed three-storey penthouse overlooking Hyde Park will be marketed for sale at $15 million. But according to the latest research from McGrath Estate Agents, the cost of the finest penthouses […]

DJs plans sky-high extension

DEPARTMENT store David Jones could spark a race to develop the airspace on a key block in the heart of Sydney by lodging plans to transform its iconic Marke Street propety. David Jones may face compeition from its next-door neighbour, City Tattersalls Club, which has teamed up with Mirvac, with the pair unveiling plans for […]

Archaeology Meets Architecture at V by Crown

The term ‘history in the making’ is no understatement at V by Crown in Parramatta as Sydney-based property developer Crown Group looks to preserve the colonial heritage of one of Sydney’s earliest historical sites. As Parramatta bourgeons into a fast-paced, modern epicenter a piece of the regions rich heritage as the state’s first penal settlement […]

BROOKFIELD MULTIPLEX TO DELIVER NEW INTEGRATED HOSPITAL TO THE BEGA VALLEY

Brookfield Multiplex, a leading global contractor, has been appointed to build the new South East Regional Hospital, delivering a wider range of new and enhanced medical services to the Bega Valley and broader community. The new South East Regional Hospital is located on a 17.5 hectare greenfield site approximately 1.5 kilometers from the Bega CBD, […]

Far East, Grocon file plans for $1.8bn in Melbourne apartments

CHINA’S Far East Consortium and Daniel Grollo’s development company Grocon have filed plans for separate apartment projects with an end value of about $1.8 billion. The plans come as new research from Chicago-based Council on Tall Buildings and Urban Habitat shows Melbourne has the fifth-highest number of 100m-plus residential buildings under construction in the world, […]

Apartment sites snapped up

INTERNATIONAL developers are snapping up apartment development sites in Sydney with booming prices allowing seasoned local players to cash in or ride the market themselves. In the most prominent deal, property billionaire Bob Ell has cashed in on the Chinese investment boom by selling an office tower in Milsons Point on Sydney Harbour for about […]

All eyes on South Sydney

Development sites across South Sydney are the hottest tickets in town with Asian-based and local developers prepared to pay up to garner a site. The limited supply of large development sites in the sought-after area, and general undersupply of housing in the wider Sydney market, are two of the key drivers of demand into 2014. […]

Local buyers snap up more than $100M in property in 8 hours at Sydney’s newest waterfront town centre and residential community

First homebuyers, young families, downsizers and retirees are among the first new apartment owners at the vibrant new Woolooware Bay town centre and residential community development in the Sutherland Shire. The project, to be delivered by developers, Bluestone, on land owned by the Cronulla Sutherland Leagues Club, exchanged contracts on more than $100M of property […]

Rush to find inner-city apartment sites

Experts say Sydney is still the ‘best game in town’ for development. The rush to find sites for new apartment blocks in Sydney’s inner and middle-ring suburbs is intensifying as developers seek to cash in on strong prices and pent-up demand from buyers. Land for these developments is becoming increasingly sought after, especially if it’s […]

Westfield ready to splash billions as break-up looms

SHOPPING centre giant Westfield Group is ramping up its Australian development pipeline ahead of splitting its Australasian and international businesses into two separately listed property groups. The retail giant is advancing plans for a major overhaul of its Parramatta centre in Sydney’s west and the group has confirmed its commitment to a $1 billion complex […]

Grand designs for southern skyline

SINGAPORE’S Aspial Corporation has unveiled plans to build Australia’s second tallest tower behind the famed Surfers Paradise landmark Q1 Tower. The almost unknown offshore company has snapped up the site in Melbourne’s Southbank district, known as the Australia 108 project, that can accommodate a 312m tower, which will be the city’s tallest. The tower could […]

Crown Group Achieves $150 Million in Sales at V by Crown

The property market is red hot and so too is the performance of property developer Crown Group as V by Crown in Parramatta reaches a momentous $150 million in sales this week. The successful development located in the heart of Parramatta has steam-rolled a pathway to success selling 277 apartments in the 18 months since […]

Singapore’s Aspial unveils plans for 388m Southbank skyscraper

SINGAPORE’S Aspial Corporation has unveiled plans to build Melbourne’s tallest skyscraper after striking a deal to buy a development site in the city’s Southbank district for $42.3 million. The tower will overlook the Yarra River and house upmarket apartments and boutique office space, with the top floor to be made accessible to the public. Melbourne’s […]

German fund swoops on offices

THE €23 billion ($35bn) Union Investment is in exclusive negotiations to buy a new $200 million office development housing Flight Centre’s 2000 Brisbane staff in what will mark the German property fund’s first foray into Australia, according to industry sources. The building, being developed by Brisbane’s Anthony John Group as part of its $590m Southpoint […]

Unit developers circle city sites

APARTMENT developers and property owners are circling fresh sites for residential projects across Sydney as the sector booms, with experts suggesting the market won’t slow down for at least a year. More projects are on the cards for the city’s suburbs with the Nine Network’s long-mooted plans to redevelop its Willoughby campus on the north […]

End of boom opens some doors

FOR most of the time Pene and Harry Dewhirst have been living in the central Queensland resources hub of Gladstone, they haven’t had a hope of being able to afford to buy their first home. Now, as construction of the $70 billion Curtis Island liquefied natural gas plants winds up and new housing stock is […]

Sydney Uni plans massive expansion of student housing

ONE of Sydney University’s residential campuses, St Andrew’s College, could more than double in size over the next decade. The college and university are hoping to cash in on the high demand for student housing in Sydney’s inner west, with St Andrew’s usually having up to five times more applicants than spaces available. The master […]

Starwood Hotels in deal with Singapore real estate group

HOTEL operator Starwood Hotels & Resorts has struck a deal with Singapore-listed real estate group Hiap Hoe to run two hotels at luxury properties it is developing in Melbourne that are worth $700 million. The pair have struck a deal under which the group’s planned hotel in the Docklands will be run as a Four […]

New home building spurs construction expansion

THE long-hoped-for recovery in Australia’s residential construction sector may finally be underway, with low interest rates driving the fastest expansion in new home building since 2005. Strong growth in house building has helped drive the broader construction sector to its third consecutive month of expansion in December, after several years of decline. According to Australian […]

Harry Triguboff to expand serviced apartment chain into Melbourne

BILLIONAIRE developer Harry Triguboff plans to expand his serviced apartment chain along the east coast with his Meriton group planning to buy its first site in Melbourne. Meriton was eyeing central Melbourne sites that could house 500 to 1000 apartments, Mr Triguboff said. “I have serviced apartments in Sydney, Brisbane and the Gold Coast, this […]

High land values last straw for squeezed small petrol stations

Soaring land values in Sydney’s inner suburbs are contributing to the disappearance of small petrol stations, industry experts say. Stiff competition from the bigger players such as Woolworths and Coles, together with the cost of adhering to strict environmental regulations, are squeezing the profits of many smaller operators. But the value of sites is encouraging […]

Sydney cosmopolitanism drives boom in apartment living

Sydney’s increasing cultural diversity is suddenly proving a major driving force of the popularity of new apartments. Where once many Australians dreamt of a free-standing house on a quarter-acre plot, now we’re much more likely to fantasise about a great apartment somewhere central, close to transport, shops and cafes, with plenty of light and a […]

Meriton eyes corporate market

BILLIONAIRE Harry Triguboff’s company Meriton has launched a new serviced apartment complex in Sydney’s North Ryde, taking the brands hotel collection to 13 in Australia. The complex is in the growing Macquarie Park business centre, which hosts the headquarters of Johnson & Johnson and technology companies Ericsson and Sony Australia. “Our expansion into North Ryde […]

Developers eye Circular Quay for new projects

SYDNEY’S Circular Quay is emerging as one of the top destinations for new buildings this year with developers Lend Lease, Mirvac Group and AMP Capital all shifting new projects into gear. Lend Lease has begun talks to develop a key block that fronts Circular Quay that could support a $1 billion office development while Mirvac […]

Barangaroo may add to Sydney’s office oversupply

THE Sydney skyline is set to be transformed across the next three years with a host of office buildings planned, but some in the industry warn that an oversupply looms as these developments enter a tough leasing market. An analysis by one of Australia’s leading property consulting firms LPC Australia has suggested that the spike […]

Sydney CBD office space to get a $2b makover

More than $2 billion worth of office redevelopment is earmarked for Sydney’s CBD in the coming year with investors tipping the work will provide a boost to the flat leasing conditions. AMP lodged the stage 1 DA for the Circular Quay buildings on December 19 as part of its $1.8 billion revamp of its Young […]

Brutalist icon to make way for Perth CBD hotel

FESA’s former head office is to make way for a new hotel aimed at easing the accommodation squeeze in the CBD. Tourism minister Liza Harvey said a 350-room, five-star hotel will be built on the Hay Street site where FESA House currently stands. “The hotel will deliver a massive boost for tourism, providing much-needed rooms […]

Mirvac snaps up major site at Eastern Creek

MIRVAC Group has beaten stiff competition in the hot industrial property market to snap up a major industrial property in Sydney’s Eastern Creek precinct for about $55 million. The property, at 60 Wallgrove Road, Eastern Creek, in the city’s west, was sought by the likes of Stockland and Goodman Group, but Mirvac beat them to […]

North Sydney office tower may be suited to residential conversion

FUND manager and adviser Anton Capital has snapped up a North Sydney office tower for about $84 million, capping a year in which more than $1.5 billion of suburban Sydney towers have changed hands. The tower at 168 Walker Street was sold by Commonwealth Bank Group Super, which has a direct property portfolio worth about […]

Plans anchored by dramatic expansion of 50 Bridge Street

SYDNEY’S next wave of developments is set to launch, with AMP Capital’s plans for a $1 billion revamp of its Circular Quay office holdings going on exhibition yesterday. The plans for the new precinct, known as Quay Quarter Sydney, are anchored by a dramatic expansion of its landmark 50 Bridge Street property that will see […]

Melbourne’s vacancy rates are soaring as a surge in inner-city development adds thousands of apartments to the rental market. The city’s 3 per cent vacancy rate is now the highest among Australia’s capitals, SQM Research’s November data suggests. Hobart and Adelaide have the tightest vacancy rates in Australia at 1.4 per cent, SQM figures show. […]

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It’s back to school for Plenary and Watpac

THE Newman government has awarded Plenary Group and Queensland-based construction company Watpac a $550 million contract for 10 schools in the government’s biggest schools project to date. Watpac chief executive Martin Munro said he believed public private partnerships were an effective model in delivering social infrastructure projects. “It is a sensible way of delivering well-designed, […]

Prices skyrocketing as Chinese developers ‘pay too much’ for sites

ASIAN developers are raiding Sydney and Melbourne for development sites, paying over the odds, driving up prices in some suburbs and locking out local groups. Chinese developer Ausbao recently paid $55 million for an apartment site in Sussex Street, Sydney — $22.5m more than it was worth two years ago. Another Chinese-backed group, Bridgehill, bought […]

Grocon wins contract to build Games village

GROCON has won preferred developer status to build the Commonwealth Games Village on the Gold Coast in partnership with Economic Development Queensland. The village for the 2018 games will have about 1300 apartments to house about 6500 athletes and officials. Grocon’s bid beat a rival plan by the Village Park Consortium, comprising the listed Australand […]

Queen Victoria Market set for 50-storey tower on doorstep

A planned 50-storey apartment and hotel development on the front step of Queen Victoria Market could be the first of a swag of new high-rise towers to overlook the market. Developer MIT Australia has lodged a planning application for two towers of 50 and 30 storeys with a 210-room hotel and 609 apartments at the […]

Sydney construction activity on the rise

Construction activity is heading for improved conditions boosted by the rise in residential development and, to a lesser extent, commercial projects, which are coming off a low base. But some gains may be tempered by higher forecast labour costs and the effect of volatile currency markets. The latest Rider Levett Bucknall Oceania report, for the […]

Leighton, Mirvac win Perth CBD contract

Construction giant Leighton and property group Mirvac have won a contract to develop a large part of the multi-billion dollar Perth City Link project. The West Australian government has selected the two companies to develop a 5.1-hectare land holding in the Perth CBD, which accounts for about 40 per cent of the estimated $5.2 billion […]

Charter Hall’s wholesale fund commits to a $150 million expansion and redevelopment of 570 Bourke Street Melbourne

The $150 million expansion and redevelopment of the Charter Hall Core Plus Office Fund’s (CPOF) 570 Bourke Street office building is set to commence early next year, with the appointment of Brookfield Multiplex as construction contractor, on a fixed price lump sum design and construct contract. The enlarged 51,000 square metre A-grade office building, located […]

City Tatts gives Pitt Street a makeover with new hotel, flats and restaurants

The traditional retail fortress of Pitt Street is to get a make over with a new 100 room hotel, more than 200 apartments and restaurants and a new City Tattersalls Club. Following years of discussions, the 100-year old club has appointed Mirvac Group to develop the air space above the existing club, as well as […]

Developers snap up sites for apartments

DEVELOPERS continue to swoop on Sydney’s suburbs and city areas for sites to build apartment tower blocks — with Mirvac Group said to be the prime contender to develop at least 280 high-rise apartments in Pitt Street while a Chinese development group last night was close to paying an aggressive $40 million-plus for a unit […]

Buyers snap up units in China developer’s Sydney project

[SYDNEY] Greenland Holding Group Co, one of the largest Chinese investors in the United States, sold about A$275 million (S$312 million) of apartments at its first Australian project as buyers snapped up almost all of the units offered. The state-owned developer sold 241 of 250 apartments released in the first stage of Greenland Centre, the […]

Demand grows for apartments

RESIDENTIAL building approvals have swelled to their highest numbers in three years as demand for apartments soars and construction activity returns to the battered Queensland market, according to the Housing Industry Association Economics Group. HIA economist Diwa Hopkins said residential building approvals reached 170,586 in the 12 months to October, a 19.1 per cent increase […]

Top agency switches from greenfields to infrastructure

URBAN Growth NSW is set to take control of several big-ticket infrastructure projects, including the redevelopment of Newcastle’s CBD and the development of apartment towers over the railway lines at Eveleigh, inner Sydney, under a major restructure of the government agency to be announced early next year. Urban Growth NSW chairman John Brogden says that […]