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Australand closes books after failing to get attractive bids
REAL-ESTATE developer and investor Australand said it had closed its books to potential buyers after failing to attract bids high enough to satisfy either its directors or major shareholder CapitaLand....
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Gandel in bid to get rights on the cheap
CFS Retail’s billionaire shareholder John Gandel is expected to push the Commonwealth Bank to sell the management rights for the listed property trust on the cheap, according to market sources. This...
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Accor sees room for a boom as dollar dives
Accor’s Asia-Pacific chairman Michael Issenberg, in Sydney yesterday, says the company plans to open both upmarket and budget hotels in Australia in the next few years. TOURISM executives breathed a...
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Allen Smith Named President and CEO of Four Seasons Hotels and Resorts
Luxury hotelier Four Seasons has a new CEO. Allen Smith, who’s currently CEO of Prudential Real Estate Investors, has been tapped to lead the luxury hotel company. Smith replaces Kathleen Taylor, who...
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Backdoor listing for 360 Capital Property Group
FUND manager 360 Capital Property Group will backdoor list on the ASX after being bought by the listed Trafalgar Corporate Group for about $68.8 million. Trafalgar has quietly raised $70.8m over the...
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Stockland reduces FKP stake
DIVERSIFIED property developer and investor Stockland has begun to unwind its position in troubled retirement village owner FKP by selling a little under 3 per cent of its 14.3 per cent stake in the...
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Sales soar 65pc for JLL
THE Australian arm of Jones Lang LaSalle has recorded a 65 per cent lift in investment sales in the first three quarters of the calendar year to $15 billion following a spate of retail and office...
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Robert McCuaig, co-founder of Colliers International talks a vision of...
Standing today as a global property services juggernaut, Colliers International began in the mid 1960’s as a collaboration between three independent and well-established Australian professional real...
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Concern over rising foreign investment
Offshore developers have been attracted by Australia’s robust economic performance. Photo: Jessica Shapiro Offshore developers will be building half of all apartment projects in Melbourne’s central...
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CPO accepts $2.84bn bid from Dexus
COMMONWEALTH Property Office Fund said it had agreed to accept a revised takeover bid from Dexus Property Group and Canada Pension Plan Investment Board that values it at around $2.84 billion. The...
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Steve McCann: we’re here to help on productivity
TAKING a long-term view applies not only to how Steve McCann approaches the task of running Lend Lease. The change of government has brought hope some of the logjams that have held back the property...
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ALE Property group reaffirms 2014 distribution guidance
ALE managing director Andrew Wilkinson. Photo: Rob Homer ALE Property Group has reaffirmed its 2014 distribution guidance to be at least 16.35¢ per security, boosted by its Woolworths tenants and...
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Singapore firm buys landmark tower for $413m
SINGAPORE’S Suntec REIT has bought a landmark office tower for $413.19 million in North Sydney, to be developed by Leighton Holdings, increasing the surge of foreign investment into Australia’s...
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Lend Lease pay report wins backing
Lend Lease chief executive Steve McCann. Picture: Sam Mooy Source: TheAustralian Source: TheAustralian LEND Lease yesterday avoided a second strike against its remuneration report at its annual general...
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$65m property write-off
DIVERSIFIED property group Australand has taken a $65 million writedown on four residential projects and five commercial and industrial projects following project delays. However, the company, which...
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Goodman eyes giant Brazilian expansion
Goodman chief executive Greg Goodman. Picture: Sam Mooy Source: TheAustralian INDUSTRIAL property powerhouse Goodman Group yesterday outlined an ambitious agenda to increase its $24 billion global...
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Fight for office supremacy splits analysts
Carmel Hourigan, investment management head at GPT Group. Picture: Dan Himbrechts Source: TheAustralian AS the battle between GPT Group and Dexus Property Group to become Australia’s largest office...
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Cbus strikes Melbourne CBD tower site deal
CBUS Property has cut a deal with Industry Superannuation Property Trust over a site in the Melbourne CBD that can sustain a $500 million office tower. Known widely as the National Mutual tower due to...
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Goodman Group goes for global growth
Goodman chief executive Greg Goodman says the group hopes to double its assets under management in a decade. Picture: Sam Mooy Source: TheAustralian PROPERTY behemoth Goodman Group plans to be one of...
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Investa a tower of strength with profit lift
INVESTA Property Group has lifted profits as the sector undergoes a bout of consolidation that could leave the $8 billion office tower specialist well positioned to decide its future. The Morgan...
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