Ingenia in $25m three-site play

RETIREMENT village owner and operator Ingenia is poised to buy three manufactured housing parks for more than $25 million. The acquisitions takes the number of the manufactured home parks bought by Ingenia to 15 since it entered the sector almost a year ago. Two of the properties, Town & Country Estate in Sydney’s Marsden Park […]

GPT wins over Rabobank

THE GPT Wholesale Office Fund-owned Darling Park Tower 3 is about to win the battle for Rabobank’s Australian headquarters, with the Dutch financier close to agreeing on terms to stay at the precinct. Rabobank is poised to lease about 10,000sq m at Darling Park, industry sources say. The deal would involve a restructure of its […]

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 […]

Sydney towers spark sales surge

SYDNEY office towers have emerged as the nation’s hottest property, with more than $500 million worth changing hands this week. It is not only the heavy volume of deals so early in the year that has the market talking; some of the prices being achieved are likely to prompt revaluations on many of the city’s […]

AMP fund takes full stake in NAB site

AMP Capital Investors’ flagship office fund is moving to take full control of landmark Sydney tower NAB House by buying out 25 per cent holder Brookfield Office Properties in a play valuing the tower at more than $450 million. The purchase of the stake in the building, National Australia Bank’s Sydney headquarters, for a price […]

SCA Property in share buyback

WOOLWORTHS property spin-off SCA Property Group has launched a share buyback after producing a solid result for the first half of 2014 and upgrading earnings and distribution guidance for the full year. SCA Property Group posted a net profit of $43 million for the first six months against a $33.3m loss in the prior corresponding […]

Ponds shopping center, NSW, sells for $39.7 million

Sydney based Commercial Real Estate Agency, Stonebridge Property Group, has announced the successful sale of The Ponds Shopping Centre, The Ponds NSW. Fund manager ISPT, acquired the asset, which is still undergoing development works, from vendor Australand for $39, 700, 000, reflecting an estimated yield of 7.75% on completion of the centre. The sale represents […]

Cate Blanchett buys unit on harbour as investment for sons

Cate Blanchett and her husband, Sydney Theatre Company artistic director Andrew Upton, have spent nearly $2 million on a waterfront apartment in Elizabeth Bay. Sources close to the sale said the purchase is an investment for their three sons, Dashiell, 12, Roman, 9, and Ignatius, 5, which makes the couple part of Sydney’s emerging kippers […]

Two Fairfax properties on the market

Coinciding with the launch of Sydney’s $100 million property Elaine at Point Piper, the Fairfax family is also selling a more affordable option in the once grungy Surry Hills. A five-bedroom home in Collins Street has just hit the market with $2 million price hopes, which Nick Fairfax – eldest son of John B. Fairfax […]

Charity regatta to sail into Sydney Harbour for homeless youth

The Property Industry Foundation’s (PIF) Annual Charity Yachting Regatta will be held on 21 March, 2014 and is expected to raise more than $400,000 to help support young people at risk. The Charity Yachting Regatta is sponsored by Colliers International and hosted by Middle Harbour Yacht Club at Mosman. “We are excited to be bringing […]

Home building in Australia reaches strongest level since 2004

Home building in Australia is recovering with the states of Western Australia, New South Wales and Queensland leading the revival, according to the latest quarterly data from the Australian Bureau of Statistics. There were 163,250 new homes started in the 12 months to September and although this was a fall of 2%, there has been […]

Welcome to Sydney’s new million-dollar suburbs

It is the only club in Sydney where Point Piper residents rub shoulders with the nouveau-riche of Kenthurst, where Mosman meets Matraville and Burwood and Birchgrove are equal. The doors to Sydney’s million-dollar club have been blown open, with 163 suburbs now boasting a seven-figure median house price. Improved confidence and low interest rates underpinned […]

Incomparable here, Elaine is modest by ultra-rich standards

ELAINE, the most expensive home in Australia, is due to hit the market next weekend after four generations of ownership by the Fairfax media dynasty — with a potential asking price of about $100 million The seven-bedroom mansion is on a 7000sq m estate bigger than a football field, right on Sydney Harbour at Point […]

Gavin Rubinstein, of Ray White Double Bay on stand out residential sales of 2013 and star listings for 2014

With many an award under his belt for outstanding residential sales performance, Gavin Rubinstein of Ray White Double Bay in Sydney’s Eastern Suburbs, talks through his stand-out sales of 2013 and star listings for 2014. MP: What made you first get into property? Gavin: Being a people based industry was what most appealed to me about Real […]

Gilbert & Tobin to be first legal firm to move to Lend Lease towers

LAW firm Gilbert & Tobin has made its much mooted move to the office towers at Sydney’s Barangaroo South development, becoming the first legal firm and the fourth company to agree to move to the Lend Lease towers. Gilbert & Tobin will occupy more than 9500sq m of space in Tower Two, the central structure […]

Mansion sets sales for luxe new year

LIQUOR baron John Piven-Large has relisted his Point Piper mansion on Sydney Harbour with price expectations of more than $30 million. The listing comes ahead of a flood of eastern suburbs trophy properties hitting the market early next year, from prized blocks of apartments to mortgagee-in-possession luxury homes. New listing agents McGrath and Richardson & […]

Sydney real estate queens set for showdown

Rumours of an all-out feud between two of Sydney’s real estate queens have kept the eastern suburbs buzzing with claims of espionage and sabotage, including real estate agents’ names and numbers being mysteriously removed from billboards in the dead of night. Things are set to get competitive as former real estate partners Pauline Goodyer and […]

SYDNEY OPERA HOUSE TILES UP FOR ‘VIRTUAL’ SALE

The Sydney Opera House has come up with a novel new way to raise funds and boost the building’s profile by selling “virtual” ownership of the tiles on its tallest sail. On Monday, 125,000 of the tiles went on sale, with Hollywood star Hugh Jackman among the first to put his money behind the initiative […]

Three high-end sales at Eliza in three weeks

Sydney’s luxury apartment market is on the move Three full-floor apartments in Eliza at 141-143 Elizabeth Street have sold in the last three weeks. Each apartment is approximately 200sqmwith four bedrooms, four-and-a-half bathrooms, its own private lobby, and two car parking spaces. The apartments, on levels 9, 12 and 13, were sold by joint agents […]

High flyers cash in on car spots

A SYNDICATE of high-profile Australian millionaires has sold about 450 strata car spaces at a facility near Sydney Airport as it cashes in on investment demand from self-managed super fund users. Advertising entrepreneur John Singleton, serial investor Mark Carnegie and former PBL director and close friend of Kerry Packer, Robert Whyte, formed a syndicate in […]

Radical NSW apartment reforms challenges owners’ rights

Some of the most controversial planning reforms in NSW history could see apartment owners forced out of their homes if a majority of building owners agree to sell to a developer for demolition. It’s a move by NSW Fair Trading minister Anthony Roberts that fundamentally challenges the previously sacrosanct view of property ownership, and not […]

Turning the dream into a reality – Chris O’Brien Lifehouse opens to patients

When much-loved Sydney cancer specialist Professor Chris O’Brien was diagnosed with an aggressive tumour it was the start of an incredible journey which opened his eyes to the disease from a patient’s perspective and drove him to fight even harder for improved services. Chris and his colleagues shared a vision to create a patient-centred, world-class […]

A NEW WAY TO SHOP FOR YOUR DREAM APARTMENT

One-stop lifestyle store to open in the CBD A property developer will this week open a concept store in the heart of the Sydney CBD selling exclusive lifestyle products and technology as well as luxury apartments. Longton Lifestyle Hub in George Street will showcase locally and internationally-sourced homewares, giftwares, accessories, artworks and gadgets within an […]

Property building approvals in Australia hit highest level in three years

Residential building approvals in Australia have hit their highest level since early 2010 and new construction needs to grow in order to make up for the shortfall in building over the last decade, it is claimed. The Housing Industry Association, the voice of Australia’s residential building industry, also pointed out that the growth is dominated […]

Mirvac purchases Harbourside shopping centre

Mirvac Group is to extend its footprint along the Eastern seaboard with the purchase of $522 million of assets, with the Harbourside shopping centre at Darling Harbour, the largest prize. The purchases will be completed with other financial partners, particularly in Melbourne, where Mirvac has not traditionally had a large exposure. Some redevelopment opportunities will […]

Top shop: retail chief Lew buys $13.3m penthouse

Billionaire retailer Solomon Lew is the mystery buyer of a $13.3 million penthouse in the exclusive Royal Domain Tower, purchased from wealthy property developer Harry Stamoulis. The full-floor apartment that overlooks the Shrine of Remembrance and Albert Park Lake includes four bedrooms, a formal entertaining area, a family room, two bars, a butler’s pantry and […]

Charter Hall may retry CBD tower sale

CHARTER Hall Group is expected to put a Goulburn Street tower in the Sydney CBD back on the market if the building’s key NSW government department tenant, which is looking for office space, moves out. Industry sources are anticipating yet another office-to-residential conversion in inner-city Sydney if the tower is sold. Charter Hall tried to […]

Singapore’s Government Investment Corporation debt play for Northpoint

SINGAPORE’S Government Investment Corporation is looking at making a major debt play in Australia that could see it provide finance to developer Terry Agnew secured against the landmark $300 million Northpoint complex that dominates the North Sydney skyline. The debt play could give the Singaporean giant, which has one of Australia’s largest direct property portfolios […]

Far East moves in with dual bids

SINGAPORE’S largest property developer, Far East Organisation, is making a major play in Australia’s hotel and shopping centre markets, and yesterday one of its offshoots said it could float a hospitality real estate investment trust on the Australian Securities Exchange. Singapore-listed Far East Orchard, which is a unit of the Singaporean private group, said it […]

Trico Constructions VIP Industry Lunch 25th September: The NSW approach to providing state infrastructure through urban renewal.

Trico Constructions has been engaged in high quality construction work in NSW since the late 90’s and has cultivated a strong reputation for reliability and professionalism. These attributes were originally pioneered by Director Charles Mellick and Managing Director Kevin O’ Shea and over the last fifteen years, the foundations of Trico Constructions have remained the […]

Commercial towers prove a big hit

PARRAMATTA in Sydney’s west has emerged as a hot spot for commercial office towers. Brompton Asset Management has snapped up the Sydney Water headquarters building while giant superannuation fund AustralianSuper will put NSW Police headquarters on the market in deals worth about $400 million in total. Brompton Asset Management, a British group, paid $166m for […]

Office vacancies rise

The rise in office leasing vacancies in Sydney is expected to continue for at least another few months, after which conditions should start to improve in tandem with the outlook for the economy, say agents. The potential conversion of a number of older properties across the city into apartments, including 34 Hunter Street (pictured), will […]

Property in the Botany records 100% growth rate in June quarter.

BOTANY is one of only two Sydney council areas where 100 per cent of properties sold in the June quarter made a profit on the last time they were purchased. The latest RP Data, Pain and Gain report showed Botany Bay recorded a profit of 100 per cent. The Randwick local council area has also […]

James Packer plays the Barangaroo game in Queenland with a call for more competition

Crown Limited’s James Packer expects the federal government will soon establish a ministry for tourism and is urging the Queensland premier, Campbell Newman, to get on board and open up competition for new casinos in Brisbane. “It would be great if there was a tourism minister already, but I’m sure the Prime Minister will get […]

Mirvac enlists Mapletree’s help

MIRVAC Group is courting Singaporean giant Mapletree as the cornerstone investor for a new industrial-park club fund seeded with the Sydney headquarters of supermarket leader Woolworths and computer heavyweight IBM. The properties in the city’s northwest are worth a collective $340 million. Mirvac has previously flagged plans to launch club funds, including an industrial club […]

Grumpy first home buyers even face investor competition for the Vaucluse crumbs

The pinpointing of Vaucluse as an attractive option for first home buyers by the Herron Todd White valuation group was akin to looking outside the box a bit. As the traditional FHB inner city stomping ground kicks along with high auction clearance rates and ensuing price growth, the message from the on-the-ground valuers was sometimes its pays […]

Construction on the mend

The redevelopment of the North Bondi Surf Life Saving Club has proved that the construction market is showing improvement, albeit at a slow pace and still with a bias towards the residential sector. North Sydney-based construction company Taylor completed the $7 million project in 60 weeks, with the help of architectural firm Durbach Block Jaggers. […]

David Jones confirms it’s moving up

AUSTRALIAN retail giant David Jones has warned the redevelopment of its flagship Sydney CBD stores will take time as it works through plans that could include apartments, office space or a hotel. During the retailer’s profit result yesterday, chief executive Paul Zahra said the company was “exploring options” to develop above the Sydney stores. “We […]

PIF VOLUNTEERS JOIN STREET SLEEP TO HELP THE HOMELESS

The Property Industry Foundation’s (PIF) PropertyBlitz program, for young community-minded professionals, is currently taking registrations for its inaugural StreetSLEEP on Thursday 17 October. Lend Lease has partnered with PIF for the event that will be held at Sydney Showground and aims to raise over $25,000 for disadvantaged youths. Registration is free however, sponsorship is highly […]

HYDE PARK’S EMERGING BEAUTY

Full-floor apartments offering a new lifestyle option The CBD’s most visually provocative apartment building, Eliza in Elizabeth Street, is now ready for inspection. Although modest in scale, Eliza is turning heads with its serpentine-sculpted facade contrasting vividly to the bland, boxy exterior of its next door neighbor, the Sheraton On The Park. Every floor of […]

Sydney Opera House car park put on the market

RECEIVERS KordaMentha have put the Sydney Opera House car park back on the market in a sale that could top $100 million as interest in the asset class picks up. While most of the car parks that have sold have been in Melbourne, the assets are drawing investors chasing attractive investment yields in a low […]

NSW: Commercial sale, 34 Belmore Street, Burwood, Sydney

INSURANCE Australia Group has sold a commercial property at auction to a private investor for $4.2 million in Sydney’s inner west. Jeff Moxham of Jones Lang LaSalle said the result was over and above expectations. “”We received a great turn out at the auction, with standing room only. We received over 100 inquiries prior throughout […]

Upswing comes to the party

It’s the first week since the Coalition parties were elected into power and it seems the party in property may just be starting. In the past seven days there has been more talk of sales, either listed or tenders being prepared, and initial public offerings than at any time in the past year. While it’s […]

Fairfax mansion ‘may fetch $100 million’

Australia’s priciest property has hit the market and industry experts say it could fetch over $100 million. The Fairfax family are selling their Point Piper estate Elaine, which covers almost 7000 square metres from its New South Head Road address to the high-tide mark at Seven Shillings Beach. The seven-bedroom mansion with ballroom, stables, tennis […]

Split market plagues city

A two-tiered office market has emerged in Sydney, with the premium and A-grade towers in demand from savvy tenants, cashed-up investors and super funds, to the detriment of the remaining space. This comes as the vacancy rate heads into double-digit territory. However, asset sales are fast approaching record levels, with up to $7 billion worth […]

Divine is right but at $25m most haven’t a prayer

AT least $25 million is expected for Bishopscourt, the Anglican Church’s historic Sydney mansion, which has finally hit the market more than half a century since the diocese first flagged a sale. Billed as Sydney’s highest-profile residential listing this year, the imposing 15-bedroom Darling Point mansion on 6216sq m has attracted strong local interest. “When […]

Apartment of the week: Elwood

Elwood is known for its period apartments but they usually come in neat 1930s packages, not as a quarter of a Victorian mansion as does this rather grand charmer. In leafy Wimbledon Avenue, with Elwood’s lovely plane trees on both sides, the 1869 mansion is the grandest building in a charming street and is only […]

City’s house sales on a high

SYDNEY’S auction clearance rates climbed to a record 84 per cent at the weekend with the first release of luxury apartments in Lend Lease’s new Barangaroo precinct selling out within 3 1/2 hours on Saturday morning. “This was the highest clearance rate for this year and the highest we’ve ever recorded for a weekend rate,” […]

Vendors bask as spring brings big bids

In the first unofficial big weekend of the spring selling season, Kensington’s 13 Cottenham Avenue went for $170,000 above reserve, selling for $1.92 million at auction on Saturday. It was one of 548 Sydney auctions scheduled for the weekend, making it a busy weekend for agents and buyers as many auctions were brought forward because […]

Attempt to rescue Italian Forum from financial ruin

ADMINISTRATOR SV Partners has been appointed to Sydney’s Italian Forum complex in Leichardt, citing insufficient cashflow. SV Partners’ Joe Atkinson said in a statement last night he wanted to keep the Italian Forum’s cultural and auditorium complex running by seeking expressions of interest from the community to take over the management. SV Partners intends to […]

City renters wooed with $7000 grant to buy in regions

City renters will be offered $7000 to buy property in rural areas as part of an overhaul of the NSW government’s underperforming regional relocation grant scheme. The Deputy Premier and leader of the Nationals, Andrew Stoner, will announce new rules for the scheme on Wednesday, including a minimum relocation distance of 100 kilometres to end […]

Asian investor pays record $17 million for Sydney penthouse

SYDNEY’s luxury apartment market continues to attract cashed up buyers with an Asian investor setting a new record for CBD residential prices after paying $17 million for an opulent penthouse atop The Residence apartment complex in the heart of the financial district. The 800 sqm apartment, known as the Sulman Penthouse, features three bedrooms replete […]

Sydney and Melbourne property boosted by yield hunters, but beware rising unemployment

Experts says Sydney and Melbourne’s housing markets are reaching record levels, as investors shun flat investment markets and weak financial deposit rates and pour money into bricks and mortar. Sydney posted a weekend auction clearance rate of 79 per cent and Melbourne reached a strong result of 82 per cent. Australian Property Monitors senior economist […]

City Tattersalls bets on tower block plan

IN a bid to cash in on Sydney’s growing need for accommodation, City Tattersalls Club is finally preparing to build a 48-level tower above its Pitt Street headquarters, nearly 50 years after it first floated the idea. A proposal for the tower, including hotel rooms, commercial offices and apartments above the club’s 194-204 Pitt Street […]

British American Tobacco’s Pagewood plant tipped to sell for $120m

BRITISH American Tobacco has fielded more than 20 inquiries for its 16.8ha Pagewood site in Sydney’s east, with property executives expecting the holding to fetch as much as $120 million. High-profile developers including Meriton, Crown and Payce are among six shortlisted parties vying for the site just north of the Eastgardens Shopping Centre. The property […]

Trophy harbourside houses in demand

SYDNEY’S eastern suburbs are awash with multi-million-dollar residential activity with the businessman associated with the recent $54 million purchase of Point Piper mansion Altona, Shu Wang, scouring Sydney for more waterfront properties. He is understood to be looking for a waterfront mansion that includes a jetty. Meanwhile, billionaire property developer Bob Ell is understood to […]

Stockland clears the decks

Diversified real estate investment trust Stockland has reported a 79 per cent drop in full-year earnings due to impairments in its residential business, but remained confident the worst of its restructuring was over. Based on uncertainty over the federal election ending in September, better housing affordability due to lower interest rates and a general uplift […]

Sydney auctions in 80% plus overdrive for fifth consecutive weekend

At near peak levels, Sydney managed an 83.8% weekend auction clearance rate, according to Australian Property Monitors (APM), the fifth consecutive weekend with a preliminary 80% plus outcome. The result came from bumper stock levels of around 399 offerings, which was well up on the lowest winter weekend this year of 280 auctions on a Saturday in early July. It’s still early […]

First look: Barangaroo showroom opens this weekend

For more images see gallery Could it be a ship? A teardrop? Or an egg, perhaps? No, the white sculptural form in the centre of the kitchen at the Barangaroo display suite is definitely a cloud. Sydneysiders can get their first taste of the most anticipated apartments in decades this weekend, provided they make an appointment with […]

PIF Unmasks charity Ball achievement

The Property Industry Foundation (PlF) anticipates it will raise over $150,000 (net) for homeless young people from its Annual Charity Ball last Friday night. Held at Hilton Sydney and sponsored by Ganellen, the Italian Masquerade Ball was attended by 450 property and construction leaders to help raise funds for the next PIF House to be […]