This Month
Tradies are the thing we need most: Developers to Dutton
Developers warned that cutting immigration would not only slow home building, but have ramifications for the entire Australian economy.
NRMA snaps up Yamba holiday park for more than $40m
The association will add the Blue Dolphin Holiday Resort in Yamba to a tourism portfolio that includes Cradle Mountain Hotel and Freycinet Lodge in Tasmania
- Exclusive
- Property market
Lenders’ preference for luxury units a blow to housing supply hopes
Mortgage broker Stamford Capital is arranging construction finance for developments worth $5 billion. All of them are luxury apartment projects.
Developers cash in as investors spend big on fast food and childcare
Nearly $50m was splashed by investors at a commercial property auction in Sydney, of which almost half was spent on fast food outlets on long leases.
- Exclusive
- Property development
Former AFL star pays $190m for Cranbourne Golf Course
The 70-hectare site in Melbourne’s south-east will support up to 1500 new homes with an end value of about $1 billion.
Demand for housing and sheds to drive Frasers forward
Frasers’ booming Australian residential and industrial businesses will help drive profits at the Singaporean giant, after they fell at the half-year stage.
Former QIC boss Damien Frawley puts Qld cattle station on the market
Damien Frawley, who is a director at Mirvac and chair of Hostplus, is the biggest shareholder of Blue Sky Beef which is selling Gowan Station.
WA farmland boom to end as drier conditions prevail
Farmers in Australia’s wheat and sheep powerhouse state enjoyed a 32 per cent uplift in land values in 2023, but there will be no repeat performance of that in 2024.
- Exclusive
- Construction
Gurner-Roberts merger plan sinks
A lack of “chemistry” between the two Rich List business leaders also hindered a merger of their development and construction businesses.
Dutch pension fund giant puts $700m into Sydney build-to-rent start-up
Apt.Residential has won the backing of PGGM, which has committed $700m to the rollout of 2500 apartments.
Goodman warns on China as data centre push gathers speed
Occupancy across Goodman’s China portfolio was 93 per cent over the March quarter, compared with 98 per cent across its overall portfolio.
Rest Super, Barings snaffle $780m Goodman industrial portfolio
The Australian super fund and US investment manager have acquired 12 properties in Sydney and Melbourne, leased to the likes of Amazon and Metcash.
Loyalty program a huge driver of occupancy at Marriott hotels
More than one in two hotel rooms booked in Australia come through Marriott’s loyalty program, says Asia Pacific boss Raj Menon.
Why Michael Hill chose Chadstone to sell $1m diamond earrings
Michael Hill’s global flagship store will open in Melbourne’s biggest mall Chadstone, and will include a $1m pair of yellow diamond drop earrings.
Farm land price growth to ease to 5pc in 2024 as rural incomes fall
Price growth this year is expected to be less than half the near 11 per cent achieved in 2023, as a three-year agricultural boom fades.
Centuria lifts glasshouse portfolio to $450m with big Vic acquisition
Centuria has paid about $100m to buy the Katunga Fresh glasshouse facility in a sale-and-leaseback deal with the Van den Goor family.
‘Tired’ deceased estate sells for $1m more than guide
Auction clearance rates rose at the weekend despite a 10pc increase in listings. Buyer’s agent David Morrell says good properties are “flying out the door”.
FIRB changes are fine but please fix tax: investors
Changes to the foreign investment regime to boost investment in rental housing may count for little if tax settings remain a handbrake.
Developers bet on long-term tourism boom with new hotels
Developers have struck agreements with IHG, Hilton and Accor to operate new hotels in Brisbane, Townsville and Launceston as occupancy rates rise.
Qantas Super puts $200m into farms backed by Costa family
The superannuation fund will invest most of the money in two horticultural aggregations that will be expanded by Costa family-backed investment manager goFARM.
