L67 Property Operators and Real Estate Services

Presentation has ‘elements of a wake’

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Original article by Matthew Cranston, Robert Harley
The Australian Financial Review – Page: 34 : 21-Aug-15

Depressed conditions in the Brisbane and Perth office leasing markets hindered performance of the Investa Office Fund (IOF). IOF leased 55,000 sq m of office space in 124 deals, but like-for-like net property income fell 1.3 per cent. Funds from operations rose 4.5 per cent and, because of strong revaluations, net tangible asset backing rose 8.1 per cent. Mirvac is poised to buy the entire Investa platform.

CORPORATES
INVESTA OFFICE FUND – ASX IOF, INVESTA PROPERTY GROUP, MIRVAC GROUP – ASX MGR, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED, MORGAN STANLEY REAL ESTATE

Charter Hall to raise $55m for Automotive

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Original article by Matthew Cranston
The Australian Financial Review – Page: 43 : 20-Aug-15

Charter Hall is setting up a new unlisted retail property trust. The Charter Hall Direct Automotive Trust will hold $A102 million worth of properties which are to be acquired from the Automotive Holdings Group (AHG) and a syndicate managed by API. The acquired properties will be leased back to AHG. Charter Hall is seeking $A55 million from investors for the new fund.

CORPORATES
CHARTER HALL GROUP – ASX CHC, AUTOMOTIVE HOLDINGS GROUP LIMITED – ASX AHG, API FUND, MAZDA AUSTRALIA PTY LTD, CORE PROPERTY PTY LTD

Hooker glum on Melbourne, Sydney industrial yield

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 39 : 18-Aug-15

LJ Hooker expects a rise in prices for prime-grade industrial property in Sydney and Melbourne, due to strong interest from local and foreign investors. Yields are likely to fall below seven per cent. Over the 12 months to June 2015, industrial sales increased 56 per cent to $A5.3 billion. Sydney’s yields rose by 57 basis points to 7.2 per cent in the same period. In Melbourne, they declined 50 basis points to 7.2 per cent.

CORPORATES
LJ HOOKER (AUSTRALIA) PTY LTD, FRASERS CENTREPOINT LIMITED, AUSTRALAND PROPERTY GROUP, MAPLETREE INVESTMENTS PTE LTD, ASCENDAS PTE LTD, GOODMAN GROUP – ASX GMG

Offices go big on smaller tenants, says Colliers

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 38 : 18-Aug-15

Businesses are increasingly looking for smaller offices. The proliferation of start-ups and technology firms has led to more demand for office space in tenancies of less than 500 sq m. Colliers International states in its report on Australia’s CBD office market that the proportion of these tenancies has grown to 83 per cent of all tenancies, from 71 per cent in 2009.

CORPORATES
COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED

Mining towns send investors broke

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 18-Aug-15

The mining towns of Moranbah and Dysart in Queensland’s Bowen Basin have experienced sharp falls in property prices. Figures from CoreLogic RP Data show that the median value of a home in Morbanah has declined 66 per cent in the past three years, from $A404,006 to $A251,933. During the mining boom, investors pushed prices to ridiculous levels but now demand is almost non-existent.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, BHP BILLITON LIMITED – ASX BHP, MORANBAH REAL ESTATE PTY LTD, ADANI ENTERPRISES LIMITED

Senator urges crackdown on pushy SMSF spruikers

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Original article by Sally Rose
The Australian Financial Review – Page: 8 : 13-Aug-15

Senator John Williams, a member of the parliamentary committee on corporations and financial services, wants regulators to crack down on real estate agents who urge people to set up self-managed superannuation funds so they can borrow to buy investment properties. Williams will tell the Australian Securities & Investments Commission that the practice is dangerous and that real estate agents are not licenced to provide such advice.

CORPORATES
AUSTRALIA. JOINT STATUTORY COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMP LIMITED – ASX AMP, ELSTON PORTFOLIOS PTY LTD, FINDEX AUSTRALIA PTY LTD, FEDERAL COURT OF AUSTRALIA, 21ST CENTURY GROUP PTY LTD

Hockey did foreign buyers a favour

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Original article by Michael Bleby
The Australian Financial Review – Page: 45 : 13-Aug-15

Real estate agents have this advice for foreign property owners ordered to sell up because they have breached foreign investment rules – do so sooner rather than later. The agents believe the Sydney market in particular has topped out. Of the six properties to be sold under orders from Treasurer Joe Hockey, one is in Sydney’s Fairfield, where prices have surged 33 per cent in 12 months. A crash is not predicted, but agents are starting to see fewer bidders at auctions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CENTURY 21, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, McGRATH ESTATE AGENTS, BELLE PROPERTY PTY LTD, RAY WHITE GROUP, LAURIE KELLY REAL ESTATE

Bumper debut for GPT Metro Office

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 37 : 12-Aug-15

Australian-listed GPT Metro Office, which was floated in October 2014, has reported earnings per unit of $A0.1128 for 2014-15. The fund announced a distribution of $A0.1015 per unit. The fund’s six assets had their valuation increased by $A24 million to $A401.8 million.

CORPORATES
GPT METRO OFFICE FUND – ASX GMF

Hartzer flags probe of mortgage brokers

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 38 : 11-Aug-15

Westpac CEO Brian Hartzer has warned mortgage brokers that certain of their lending practices may attract the attention of regulators. He said on 10 August 2015 that it is essential to make sure that customers are able to service their loans. Aussie Home Loans founder John Symond is concerned about the risk of over-regulation. He claims that additional compliance is already extending the process of assessing the loan application by 30 minutes.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSSIE HOME LOANS LIMITED

Mixed results in Sydney auctions but no signs of housing slowdown

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 6 : 10-Aug-15

Sydney’s residential property market is not as hot as it was several weeks ago. Domain’s senior economist, Andrew Wilson, says auction clearance rates have been falling over the past three weeks while listings are twice as high as they were a year ago. CoreLogic RP Data reported a clearance rate of 77.8 per cent for 8-9 August 2015, compared with 78.8 per cent for 1-2 August.

CORPORATES
McGRATH REAL ESTATE PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, DOMAIN.COM.AU