L67 Property Operators and Real Estate Services

Nylex site battle heads to court

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 34 : 22-Sep-16

The refusal by Heritage Victoria to allow Caydon Property to demolish some elements of the historic Nylex maltings site along the Yarra river in Melbourne has resulted in legal action. Caydon took the matter to the Victorian Supreme Court, frustrated that it could not proceed with its plans to develop the 1.1 hectare site into an apartment, office and entertainment precinct.

CORPORATES
CAYDON PROPERTY PTY LTD, SUPREME COURT OF VICTORIA, CITY OF YARRA, CAYDON PROPERTY PTY LTD, HERITAGE VICTORIA, VICTORIA. CIVIL AND ADMINISTRATIVE TRIBUNAL

Clearances strong as auction numbers rise

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Original article by Michael Bleby
The Australian Financial Review – Page: 7 : 12-Sep-16

Data from CoreLogic shows that Sydney boasted a residential auction clearance rate of 80 per cent in the week to 10 September 2016, compared with 80.7 per cent in the previous week. The clearance rate in Melbourne fell from 79.3 per cent to 78.7 per cent, while the national clearance rate was down from 77.1 per cent to 76.4 per cent. Kevin Brogan of CoreLogic expects more homes to be listed for auction in spring.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, BELLE PROPERTY PTY LTD

Sydney, Melbourne price surge continues

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 11 : 2-Sep-16

House prices in Sydney and Melbourne are still rising, and this trend has a negative impact on affordability which has fallen to an all-time low. Corelogic Home Value Index shows that house prices in Sydney rose 1.5 per cent while Melbourne prices increased 1.4 per cent in August 2016. Corelogic head of research Tim Lawless said the problem of low affordability necessitates the creation of a ministry of housing at the federal level.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, SQM RESEARCH PTY LTD, MACQUARIE CAPITAL PTY LTD, MISSION AUSTRALIA

Estia founder Arvanitins resigns and sells stake

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Original article by Matthew Cranston
The Australian Financial Review – Page: 31 : 1-Sep-16

Estia Health’s poor financial results have made investors nervous. The resignation of founder of the Australian-listed aged care operator and developer, Peter Arvanitis, is likely to deepen the crisis in the company. Arvanitis also sold his 17.74 million shares at a price of $A3.15 a share for $A55 million in total.

CORPORATES
ESTIA HEALTH LIMITED – ASX EHE, BANK OF AMERICA MERRILL LYNCH, PERPETUAL LIMITED – ASX PPT, KENNEDY AGED CARE, VGI PARTNERS PTY LTD, SLATER AND GORDON LIMITED – ASX SGH, WATERMARK CAPITAL PTY LTD, TOTUS CAPITAL PTY LTD, AUSTRALIA. DEPT OF HEALTH, MORGAN STANLEY AUSTRALIA LIMITED, QUADRANT CAPITAL PTY LTD, MERCURY CAPITAL PTY LTD

Surging apartment approvals raise oversupply fears

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Original article by Michael Bleby
The Australian Financial Review – Page: 30 : 31-Aug-16

New home approvals have risen to their highest level in more than a year in July 2016. Figures released by the Australian Bureau of Statistics on 30 August 2016 show that total new home approvals rose 11 per cent to 20,987. It is difficult to say whether the rise in approvals is the result of strong demand or oversupply.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, UBS HOLDINGS PTY LTD

Rinehart ponders bid for Kidman

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Original article by Kylar Loussikian
The Australian – Page: 1 & 2 : 29-Aug-16

Australian businesswoman Gina Rinehart is believed to be considering a joint bid for the S. Kidman & Company rural property empire. The proposal would result in Rinehart’s Hancock Prospecting taking a 66 per cent stake in Kidman, while the balance would be bought by Shanghai CRED Real Estate. The Chinese group recently withdrew from the consortium that had its bid to acquire Kidman blocked by the Federal Government. Rinehart has actively been investing in rural properties in recent years.

CORPORATES
S KIDMAN AND COMPANY PTY LTD,{SPAC}HANCOCK PROSPECTING PTY LTD,{SPAC}SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED,{SPAC}SHANGHAI PENGXIN GROUP COMPANY LIMITED,{SPAC}AUSTRALIAN RURAL CAPITAL LIMITED – ASX ARC,{SPAC}AUSTRALIA. DEPT OF THE TREASURY,{SPAC}AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET,{SPAC}GENIUS LINKS ASSET MANAGEMENT,{SPAC}LIBERAL PARTY OF AUSTRALIA,{SPAC}ERNST AND YOUNG

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