L67 Property Operators and Real Estate Services

Private auctions – oh, so homely

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 2 : 2-Apr-15

Opinion is divided regarding the merits of selling a residential property via a private auction. Buyers’ advocate David Morrell notes that private auctions can distort the property market due to the lack of data on the results of such auctions. Abercrombys Real Estate’s Rob Vickers-Willis says private auctions allow vendors to avoid having people turn up just to have a look at the property

CORPORATES
ABERCROMBYS REAL ESTATE PTY LTD, JLW PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED

Stamp duty ‘unfair and inefficient’

roymorgansocial Leave a comment

Original article by Rebecca Thistleton
The Australian Financial Review – Page: 47 : 2-Apr-15

Property Council of Australia CEO Ken Morrison has called for government action on the issue of stamp duty, describing it as an inefficient and volatile tax. He argues that the best option for replacing stamp duty would be to increase the goods and services tax and widen its scope. He has also suggested the option of a broad-based land tax, of the type that is being introduced in the Australian Capital Territory to replace stamp duty

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN CAPITAL TERRITORY. DEPT OF THE CHIEF MINISTER

Vail Resorts buys Perisher

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 13 : 1-Apr-15

James Packer and Luca and Guido Belgiorno-Nettis have sold the Perisher ski resort in New South Wales to US-based Vail Resorts. The $A176.6m deal is subject to approval from the State Government. Vail has indicated that people who buy Perisher’s Freedom Pass will also be able to use the group’s North America ski resorts. Perisher has been owned by a joint venture between the Packer and Belgiorno-Nettis families since 1995

CORPORATES
PERISHER BLUE PTY LTD, VAIL RESORTS INCORPORATED, TRANSFIELD CORPORATE PTY LTD

FIRB may scare off Asian buyers, warns Maddocks

roymorgansocial Leave a comment

Original article by Rebecca Thistleton
The Australian Financial Review – Page: 41 : 31-Mar-15

Law firm Maddocks claims that the proposed restrictions on foreign investment in Australian residential property have had a negative impact on demand in the sector. The Foreign Investment Review Board recommended the introduction of new fees and stricter rules for foreign investors. Maddocks partner Nick Holuigue has warned that foreign investors could choose to invest elsewhere if the Government implements the new rules

CORPORATES
MADDOCKS, ASPAIL GROUP, HIAP HOE LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Sydney sales eclipse record for weekend

roymorgansocial Leave a comment

Original article by Mercedes Ruehl
The Australian Financial Review – Page: 40 : 30-Mar-15

Sydney’s residential property market boasted an auction clearance rate of 87.5 per cent on the weekend of 28-29 March 2015, according to Domain Group. More than 1,100 homes went under the hammer, with many selling for prices well above their reserve. The preliminary clearance rate in Melbourne was 78.5 per cent, while RP Data’s figures show that the preliminary weighted average clearance rate nationally was 77.5 per cent

CORPORATES
DOMAIN.COM.AUFAIRFAX MEDIA LIMITED – ASX FXJRP DATA LIMITEDCORELOGIC AUSTRALIA PTY LTDCOOLEY AUCTION SERVICES PTY LTDRAINE AND HORNE PTY LTDBELLE PROPERTY PTY LTDBREEN PROPERTYSAVILLS (AUST) HOLDINGS PTY LTDNELSON ALEXANDERLEND LEASE GROUP LIMITED – ASX LLC

Goodman’s $2b sell-off rolls on

roymorgansocial Leave a comment

Original article by Mercedes Ruehl
The Australian Financial Review – Page: 37 : 26-Mar-15

Mapletree Investments is believed to be looking to buy a number of office buildings in Sydney’s Macquarie Park. Three properties that are owned by Goodman Group are said to be under consideration by Singapore-based Mapletree. Goodman offloaded some $A1.1bn worth of property in the second half of 2014, as part of its strategy to divest about $A2bn worth of property holdings each year

CORPORATES
GOODMAN GROUP – ASX GMG, MAPLETREE INVESTMENTS PTE LTD, SINGTEL OPTUS PTY LTD, FUJITSU AUSTRALIA LIMITED, GOLDEN HORSE HOLDING GROUP COMPANY LIMITED, BRICKWORKS LIMITED – ASX BKW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Goodman’s $2b sell-off rolls on

roymorgansocial Leave a comment

Original article by Mercedes Ruehl
The Australian Financial Review – Page: 37 : 26-Mar-15

Mapletree Investments is believed to be looking to buy a number of office buildings in Sydney’s Macquarie Park. Three properties that are owned by Goodman Group are said to be under consideration by Singapore-based Mapletree. Goodman offloaded some $A1.1bn worth of property in the second half of 2014, as part of its strategy to divest about $A2bn worth of property holdings each year

CORPORATES
GOODMAN GROUP – ASX GMG, MAPLETREE INVESTMENTS PTE LTD, SINGTEL OPTUS PTY LTD, FUJITSU AUSTRALIA LIMITED, GOLDEN HORSE HOLDING GROUP COMPANY LIMITED, BRICKWORKS LIMITED – ASX BKW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Premier Investments in fight to get the right lease deals

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 40 : 24-Mar-15

Australian-listed Premier Investments boasts more than 1,000 retail stores. The group’s rent bill for the first half of 2014-15 rose by 6.7 per cent to $A99.3m. CEO Mark McInnes notes that this accounted for 20 per cent of its sales revenue. He says Premier is prepared to close stores if landlords are not willing to offer the market rent when leases are renewed. The group closed a Just Jeans store in Melbourne as a result

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, JUST JEANS PTY LTD, JAY JAY’S JEANS WAREHOUSE PTY LTD, PORTMANS PTY LTD, JACQUI E PTY LTD, DOTTI

Auction action hits top gear

roymorgansocial Leave a comment

Original article by Larry Schlesinger, Nick Lenaghan
The Australian Financial Review – Page: 6 : 23-Mar-15

CoreLogic RP Data has reported that the residential auction clearance rate in Sydney topped 85 per cent on the weekend of 21-22 March 2015. Andrew Wilson of Domain Group forecasts quarterly house price growth of about three per cent for the rest of the year. Melbourne’s clearance rate was above 78 per cent, and property adviser Richard Wakelin says the market has benefited from the interest rate cut in February

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, MIRVAC GROUP – ASX MGR, VICTORIA INVESTMENTS AND PROPERTIES, STOCKLAND – ASX SGP, PLEYSIER PERKINS

Affordability biggest risk, says Lend Lease

roymorgansocial Leave a comment

Original article by Michael Bleby, Nick Lenaghan
The Australian Financial Review – Page: 38 : 17-Mar-15

Housing affordability is an important factor in the Australian construction industry. Lend Lease CEO of property, Tarun Gupta, said on 16 March 2015 that affordability is currently at an acceptable level but should be closely monitored. Figures provided by CoreLogic RP Data show that house prices have risen by 7.6 per cent nationally over the past 12 months, and by 14.1 per cent in Sydney

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED