L67 Property Operators and Real Estate Services

Chinese firm exits Kidman bid group

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Original article by Kylar Loussikian
The Australian – Page: 21 : 26-Aug-16

Dakang Australia’s hopes of gaining Federal Government approval for the acquisition of S. Kidman & Company may be boosted by Shanghai CRED Real Estate’s decision to withdraw from the consortium. Shanghai Pengxin will now be able to seek an additional Australian partner for the consortium, which might be sufficient to allay the national interest concerns which prompted the sale of Kidman to be blocked.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, DAKANG AUSTRALIA HOLDINGS PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, SHANGHAI PENGXIN GROUP COMPANY LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ERNST AND YOUNG, CAPITAL HILL ADVISORY, GENIUS LINKS ASSET MANAGEMENT, AUSGRID PTY LTD, STATE GRID CORPORATION OF CHINA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, CONSOLIDATED PASTORAL COMPANY PTY LTD, SHANGHAI ZHONGFU GROUP COMPANY LIMITED, VAN DIEMEN’S LAND COMPANY

Linfox still in hunt for Kidman

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Original article by Samantha Hutchinson
The Australian – Page: 4 : 23-Aug-16

Lindsay Fox’s logistics group Linfox is still interested in acquiring S Kidman & Company. The sale process has been complicated by the decision of the Foreign Investment Review Board to block the sale of the pastoral empire to Chinese buyers. Ray White rural agent Bruce Gunning says government interference has resulted in the politicisation of transactions in the rural property market.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, LINFOX PTY LTD, SHANGHAI PENGXIN GROUP COMPANY LIMITED, GENIUS LINK ASSETS MANAGEMENT LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, RAY WHITE RURAL, VICTOR SMORGON GROUP, CAPITAL HILL ADVISORY PTY LTD

House prices to keep increasing says Symond

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 33 : 11-Aug-16

Aussie Home Loans chairman John Symond says the residential property market is "still healthy." He believes that house prices may rise by 10 to 15 per cent for the next three years. Prospects for detached housing bought by owner-occupiers on Australia’s east coast are quite solid, but apartments will underperform because of oversupply, which is particularly evident in western and inner-south suburbs of Sydney and Docklands in Melbourne.

CORPORATES
AUSSIE HOME LOANS LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Interest rate cut brings out home buyers

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 3 : 8-Aug-16

Preliminary data from Corelogic shows that Sydney boasted a residential auction clearance rate of more than 80 per cent on the weekend of 6-7 August 2016, compared with 78.3 per cent at the same time in 2015. The clearance rate in Melbourne was 76.1 per cent, down from 78.5 per cent a year ago. The Reserve Bank’s move to reduce the cash rate to a record low of 1.5 per cent prompted renewed activity among first-home buyers, although auctioneer Damien Cooley notes that they are still being edged out by property investors.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA, GOODYER DONNELLEY REAL ESTATE, BELLE PROPERTY PTY LTD, McGRATH LIMITED – ASX MEA, CBRE PTY LTD, HOCKING STUART PTY LTD, RAY WHITE REAL ESTATE

Sydney tightest, Perth weakest in office leasing

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Original article by Robert Harley
The Australian Financial Review – Page: 31 : 4-Aug-16

The vacancy rate in Sydney’s CBD office market declined to 5.6 per cent in the first half of 2016. Figures from the Property Council’s half yearly "Office Market Report", to be released on 4 August, also show that Perth is experiencing a very different trend, with the office vacancy rate rising to 21.8 per cent. Nationwide, the CBD vacancy rate rose marginally to 11 per cent.

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, JONES LANG LASALLE AUSTRALIA PTY LTD, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, CBRE PTY LTD

Growthpoint near victory with GPT bid

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 29 : 2-Aug-16

The GPT Metro Office Fund’s independent directors have expressed their support for a takeover offer from Growthpoint, which was judged to be superior to a rival bid from Centuria. Consequently, the latter decided against pursuing its bid. Investors in the GPT Metro fund can choose to receive either $A1.25 in cash and 0.3968 Growthpoint securities for each unit they hold or a cash offer of around $A2.50 per unit.

CORPORATES
GPT METRO OFFICE FUND – ASX GMF, CENTURIA METROPOLITAN REIT – ASX CMA, GROWTHPOINT PROPERTIES AUSTRALIA – ASX GOZ, GROWTHPOINT PROPERTIES LIMITED

Auctions lack that spring in their step

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 25-Jul-16

Preliminary data from CoreLogic shows that Sydney’s residential auction clearance rate was 75.3 per cent in the week to 23 July 2016, with 448 homes going under the hammer. The clearance rate in Melbourne was 72.4 per cent, with 515 properties scheduled for auction during the week. Both cities recorded a sharp fall in auction numbers compared with the same period in 2015. James Andrews of Ray White Thornleigh expects an upturn in homes put up for auction as the Spring selling season approaches.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RAY WHITE REAL ESTATE, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, GREG HOCKING GROUP PTY LTD, HODGES REAL ESTATE

Kidman sale in doubt with election results

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Original article by Matthew Cranston
The Australian Financial Review – Page: 30 : 5-Jul-16

The post-election reconfiguration of the Australian parliament could affect the sale of S. Kidman & Company. Dakang Australia Holdings is expected to try again to buy Kidman, after its acquisition proposal was rejected by Treasurer Scott Morrison. Senators Adam Bandt, Pauline Hanson, Nick Xenophon and Bob Katter are likely to oppose the sale of Kidman to foreigners.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, DAKANG AUSTRALIA HOLDINGS PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, AUSTRALIAN GREENS, DOMACOM LIMITED

Melbourne ‘not oversupplied’

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 33 : 24-Jun-16

Asian Pacific Group CEO Will Deague claims that there is no oversupply of apartments in Melbourne, and in fact not enough apartments are being built in the Victorian capital. Asian Pacific Group’s Melbourne developments include the Whitehorse Towers apartment project in Box Hill and the Collins House project in the CBD. The latter is a joint project with another developer.

CORPORATES
ASIAN PACIFIC GROUP PTY LTD, FAR EAST CONSORTIUM HOLDINGS (AUSTRALIA) PTY LTD, PONTIAC LAND GROUP

Gearing proposal won’t hit renters

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Original article by Michael Bleby
The Australian Financial Review – Page: 36 : 23-Jun-16

Research suggests that the Australian Labor Party’s proposal to impose restrictions on negative gearing would have limited impact on rents. A study conducted by SQM Research suggests that rents would remain largely unchanged for the next few years, due to extra supply. SQM Research MD Louis Christopher calculated that the proposed policy would result in a rise of 1.2 percentage points in average rental yields. An adjustment of either rents rising or prices falling would happen only after four years of the new rules being in operation.

CORPORATES
SQM RESEARCH PTY LTD, AUSTRALIAN LABOR PARTY