Yesterday
Melbourne’s Mecca superstore developer chases more cash
The property fund refurbishing the former David Jones site has been forced to ask for more money, at a significant discount, as it struggles to stay afloat.
This Month
Fund manager Elanor’s long road ends in $125m rescue plan
ASX-listed Elanor Investors is suspended, and it did not lodge its interim financial result. One of its biggest investors has a rescue plan, at a price.
Stockland to build $3.5b logistics hub on Kogarah Golf Club site
The developer has a plan for the long-contested 18.3-hectare golf club site across the river from Sydney Airport.
Geoff Harris’ new $60m office gives 11 charities a home
The Flight Centre co-founder has developed an office building in East Melbourne that offers a floor of free space to charities his family supports.
Aldi checks out of ‘ghost’ supermarket, empty for a decade
Supermarket chain Aldi is selling a derelict building in Sydney’s south which has sat empty for over 10 years. But the groceries giant hopes to return.
JPMorgan exec ditches Wall Street for private equity
Josh Peel will join real estate investor Wentworth Capital as head of capital at the end of this month.
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.
Why clinical labs are hot property for asset managers
Wentworth Capital is eyeing a further $600 million in life science property investments with BlackRock.
Mirvac says Melbourne office market is stabilising
The Victorian capital will get just three new office towers between now and 2030. The landlord and investor says that will drive tenants to its new building.
This $2.5b shopping mall deal could help solve the housing crisis
By selling a stake in one of its Brisbane malls, Westfield owner Scentre Group can create growth options from its 650 hectare land bank. One problem stands out.
Hostplus’ $10b property bomb is a warning for all Australian investors
Lendlease and Mirvac’s battle for three funds is about more than $10.5 billion in assets. It’s about who gets to invest the whopper retirement savings pool.
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.
Aware Super’s $1b plan for serviced apartments in Europe
The fund has taken majority control of an “aparthotel” operator, continuing a push into global real estate.
Goldman Sachs adds MD to real estate ranks
Samuel Green will rejoin the Wall Street bank, based in Sydney, as a managing director after an eight-year interlude.
Too many boats, not enough berths. Why marinas are hot property
Yachting might be a luxury for some, but marinas are proving a defensive investment for others as demand for berths outstrips supply.
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.
Another week, another moment of reckoning for private credit funds
Three months ago, investors were cheering the stability of their investments amid a turbulent market. Now it’s clear that there’s a cost for that upside.
Alceon follows wealthy downsizers to Coolangatta with $142m retail buy
The investment manager plans to reposition the 32,000-square-metre shopping centre to match the southern Gold Coast’s changing demographic.
Student accommodation giant UniLodge on the block, UBS schools buyers
UBS has hit the ground running, reaching out to a handful of parties for the first round of the auction.