Today
Betty’s Burgers to open first drive-through in Sydney
Private-equity backed Retail Zoo, owner of Boost Juice and Betty’s Burgers, is pushing into drive-throughs to tap convenience-driven demand and take on McDonald’s.
Yesterday
Cromwell Property sells Sydney office stake to exit $87m debt
Co-owner BlackRock has acquired the group’s stake in an A-grade Chatswood complex to now gain full control of the asset.
Developers, hospitality operators in firing line over GST fraud
The ATO has sounded a warning after identifying a surge in potential GST tax fraud, with refund claims worth over tens of millions of dollars in some cases.
This Month
Luxury developer behind Sirius rebuild collapses with unpaid millions
It is the latest among at least four companies run by former Macquarie banker Jean-Dominique Huynh that has collapsed or gone into receivership in 12 months.
Developer eyes $80m Bondi site for luxury apartments
A series of shopfronts banded together to become Bondi Beach’s largest development site, selling for $80 million.
High-profile Gold Coast project up for sale after HMC foreclosure
The owner lost control of the site, which is approved for a 46-storey residential tower, after owning it for just seven months.
Home buyers unfazed by rate hold as prices edge higher
The shock Reserve Bank decision to hold interest rates has not deterred buyers with clearance rates staying above 70 per cent for a fifth consecutive week.
Lifestyle Communities risks debt breach over exit fees
Analysts warn that a potential slowdown in sales and the refunding of lucrative exit fees could push the company into breaching its loan covenants.
Lifestyle’s exit fees loss puts retirement estates on notice
Following a judgment that found its lucrative exit fees were invalid, the listed property developer’s shares tumbled.
Aware Super doubles down on rentals in $285m bid for tower
Build-to-rent assets continue a hot run as Aware partners with Barings to try and nab a $285 million tower with subsidy backing from the state government.
Chinese e-commerce giant buys first Aussie warehouse. And it’s big.
The Chinese e-commerce operator is building a network of logistics hubs around the world. This is its first in Australia.
Lifestyle Communities to appeal ruling that scraps lucrative exit fees
The retirement village operator will challenge a decision that it must scrap exit fees – worth $250 million of its assets – which were found to be invalid.
Aldi enters grocery delivery war with DoorDash tie-up
The German discount chain is rolling out delivery in Canberra from Tuesday, taking its battle for market share into the fast-growing online grocery sector.
Lifestyle Communities’ exit fees ruled invalid in win for residents
A tribunal has ruled that the housing provider’s exit fees for some of its residents breached tenancy laws and in some cases were “harsh”.
Dexus sues AMP after losing stake in $1.8b Macquarie Centre
The ASX-listed property giant was forced to sell its stake in one of Sydney’s biggest shopping malls. Now it’s calling on an indemnity clause to cover its losses.
Singaporeans pluck Sydney hotel from Crown collapse
Property developer Crown Group has sold its Skye Suites Sydney Hotel and Our Skittle Place Retail to Singaporean-based Furama Hotels for $68 million.
US tariffs turn Australia into commercial property haven
Foreign investors are funnelling capital into Australian commercial real estate, with falling interest rates also boosting deal volumes by 13 per cent.
Rezoning boom delivers $50m Double Bay deal for Austrac deputy
As Sydney’s planning reforms trigger a flurry of amalgamated property sales, one top public servant has joined forces with her neighbour to cash in.
May
Sydney data centre ban ‘risks driving investment offshore’
The decision to prohibit new data centres at Macquarie Park is the latest flashpoint as governments and regulators try to manage the sector’s runaway growth.
Stockland goes shopping for partners in $1.2b malls fund
The malls fund is the latest initiative by Stockland boss Tarun Gupta to bring on board major investors to drive the expansion of Stockland’s portfolio.