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Property development

This Month

Arnold Vitocco and asbestos mulch.

Rich Lister charged in park asbestos contamination

Arnold Vitocco’s family company owns chocolate chain Max Brenner and is credited with building Liverpool in Sydney’s west. He is now charged with environmental crimes.

  • Rohan Sullivan
The Toorak development will include a ground floor restaurant.

James Packer-backed $400m Toorak project gets the green light

Developer Orchard Piper has won an appeal against a council decision regarding its eight-level project on the site of a former Mercedes-Benz dealership.

  • Larry Schlesinger
An artist’s impression of a proposal to replace what developer Fortis calls an “ageing residential flat building” in Elizabeth Bay with high-end apartments.

Elizabeth Bay luxury tower development rejected

The Rolling Stones made a surprise appearance in a judgment backing residents in a fight with developer Fortis about housing needs.

  • Michael Bleby
Mirvac has signed Sumitomo Corp as a capital partner for its $830 million Highforest residential project in north-western Sydney’s West Pennant Hills.

Japanese giant in mega housing deal with Mirvac

The deal marks the next wave of Japanese investment in Australian property as trading companies seek out opportunities.

  • Michael Bleby
Buyers of apartments on sites such as this 22-storey, 111 Castlereagh by Cbus project in Sydney have an easier path to make claims in case of defects.

How it just became even better to buy an apartment in NSW

A High Court ruling has made it easier for off-the-plan buyers to sue developers and builders for defects – but only if they live in the largest state.

  • Michael Bleby
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Residential mortgages are increasingly the preserve of the wealthy.

The 3 housing charts that should make young people furious

New data shows how housing is slipping even further out of the reach of younger people. The election will kick off a new debate on the problem.

  • James Thomson
The three-storey development includes five luxury apartments (artist impression).

AirTrunk’s Robin Khuda wins battle to build apartments at Palm Beach

The Rich Lister has seen off objections from residents to his plans to develop a series of luxury units next door to Barrenjoey House.

  • Larry Schlesinger
The common room of a build-to-rent apartment building in Melbourne. Build-to-rent could help deliver 80,000 new homes within a decade.

Game changer or sellout? The election fight over the future of housing

Labor says build-to-rent changes will turbocharge apartment construction. The Coalition says it just kicks the problem along. Get ready for one of the big election battles.

  • Tom McIlroy
Render of new residential towers that will sit on top of the old Sydney Fish Market site.

More than 1000 apartments to rise from old Sydney Fish Market site

A long-heralded plan to transform the site into housing is gaining momentum, as three major developers are shortlisted for the $1.5 billion project.

  • Campbell Kwan
Local development in Kensington, Shemara Wikramanayake, Dan McLennan, Matt Berg, Andrew Irvine.

New tax laws no silver bullet for build-to-rent, NAB warns

Last week’s legislation halving the tax rate for foreign investors is a good start, but rival Macquarie agrees other factors also drag on projects.

  • Michael Bleby
Nuveen’s ANZ region head of debt Dugald Marr.

‘It’s a bit of a golden age of private credit’

Fund manager Nuveen, which has done a $400 million deal with Singapore’s sovereign wealth fund, says high returns are possible – and the risks aren’t bad, either.

  • Michael Bleby
Marlborough House has changed hands for the first time in over 50 years.

James Packer behind $110m deal for Surry Hills heritage building

An investment company ultimately owned by James Packer is partnering with developer Time & Place on plans for a $500m inner-Sydney development.

  • Larry Schlesinger
Going up: Large contractor earnings are increasing, but insolvencies among smaller subcontractors are also growing.

Big builders enjoy recovery as insolvencies hammer small players

Even as large contractors report stronger earnings, the loss of smaller subcontractors cuts capacity and creates risks for the whole sector.

  • Michael Bleby
Keystone’s Paul Chiodo.

Keystone lands in liquidation; bids rejected

The fund’s investors had several proposals on the table heading into a vote on Monday, and liquidation was the outcome.

  • Updated
  • Sarah Thompson, Kanika Sood and Emma Rapaport
Pointing up: New housing approvals are increasing.

Worst has passed for new home building: economists

Bad times “are starting to end” as developers now have a handle on costs and the prices they can get for apartments.

  • Michael Bleby
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November

Avid Property Group CEO Cameron Holt.

AVJennings to go private after mega private equity bid

The takeover offer from Proprium, which is backed by the company’s board, values the major home builder at $374 million, double its market capitalisation.

  • Michael Bleby
Going up: The value of residential construction work increased for a third quarter in the three months to September.

Housing construction rises to a three-year high

There are some signs of a pick-up in home-building, but higher costs and a risky environment for contractors are holding back development.

  • Michael Bleby
Many Australian suburbs are capitalising on existing homes rather than increasing the stock of housing.

Renovations boom while new builds stall

Australia’s trade and subcontractor shortages could be eased if policies and regulations tilted resources towards new home-building.

  • Michael Bleby
Mirvac GM of Development in Victoria Elyssa Anderson and Development CEO Stuart Penklis at the construction site of Trielle, a 45-level, all-electric residential tower at the company’s Yarra’s Edge precinct on Monday.

Mirvac taps stamp duty exemptions to sell luxury Melbourne apartments

News of the sales – and strong demand for a Sydney development with no tax break – raise questions about who should benefit from stamp duty cuts.

  • Michael Bleby
Israeli Prime Minister Benjamin Netanyahu.

Australia will comply with international law on Netanyahu arrest

Penny Wong has given her strongest signal that Australia would arrest Benjamin Netanyahu; man charged over Sydney anti-Israel vandalism. How the day unfolded.

  • Updated
  • Lucy Slade

Original URL: https://www.afr.com/topic/property-development-60u