L67 Property Operators and Real Estate Services

Novion, Federation seal $22bn mall merger

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Original article by Sarah Danckert
The Australian – Page: 19 : 4-Feb-15

Australian-listed real estate investment trusts (A-REITs) Novion and Federation Centres, active in the retail malls segment, will be merged in a deal worth $A22bn. The combined entity will be ranked third in the A-REITs category behind rival shopping centre owners Westfield Corporation and Scentre Group. Novion is the former CFS Retail, and along with Federation has 100-plus mall assets. Speculation is growing that a merger agreement may also soon be struck that could involve Dexus, GPT and Stockland

CORPORATES
NOVION PROPERTY GROUP – ASX NVN, FEDERATION CENTRES – ASX FDC, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, DEXUS PROPERTY GROUP – ASX DXS, GPT GROUP – ASX GPT, STOCKLAND – ASX SGP, CHADSTONE SHOPPING CENTRE, CHATSWOOD CHASE, ASX LIMITED – ASX ASX, COMMONWEALTH PROPERTY OFFICE FUND, FRASERS CENTREPOINT LIMITED, AUSTRALAND PROPERTY GROUP, CANADA PENSION PLAN INVESTMENT BOARD, UBS HOLDINGS PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE BANK LIMITED – ASX MBL, CREDIT SUISSE (AUSTRALIA) LIMITED

Property powerhouses set the pace on price rises

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Original article by Turi Condon
The Australian – Page: 5 : 3-Feb-15

Figures from CoreLogic RP Data show that house prices in Sydney and Melbourne increased by 1.4 per cent and 2.7 per cent respectively in January 2015. The Perth, Adelaide and Darwin property markets recorded house price declines during the month. CommSec’s Craig James says the Reserve Bank will consider the state of the residential property market when deciding whether to reduce the cash rate on 3 February

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, COMMONWEALTH SECURITIES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MERITON APARTMENTS PTY LTD, RESERVE BANK OF AUSTRALIA

Tax breaks on family home hit $46b

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Original article by Fleur Anderson
The Australian Financial Review – Page: 10 : 2-Feb-15

The Department of Treasury forecasts that continuing to exclude family homes from the capital gains tax regime will cost the Australian Government some $A46bn in revenue in 2014-15. In contrast, superannuation tax breaks cost nearly $A30bn in lost revenue each year. Robert Jeremenko of the Tax Institute says all aspects of the tax regime should be included in the Government’s upcoming tax white paper

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, THE TAX INSTITUTE, AUSTRALIAN COUNCIL OF SOCIAL SERVICE

New pool rules to stop owners selling units

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Original article by Jimmy Thomson
The Sydney Morning Herald – Page: 11 : 27-Jan-15

The New South Wales (NSW) Government has introduced new regulations on swimming pools, which are due to come into effect on 29 April 2015. Under the changed rules, owners of apartments in blocks with swimming pools and spas will not be able to sell or let their properties if these facilities do not meet safety standards. They must register their swimming pools and spas with the NSW Swimming Pool Register

CORPORATES
MAKINSON D’APICE, STRATA COMMUNITY AUSTRALIA LIMITED, OWNERS CORPORATION NETWORK OF AUSTRALIA INCORPORATED

Harry’s wild about a $15bn deal

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Original article by Lisa Allen
The Australian – Page: 15 : 27-Jan-15

Real estate development group Meriton Apartments aims to release some 3,000 new units in 2015 and 5,000 in 2016. The projects in the Sydney suburbs of Mascot and Pagewood respectively will be worth $A1bn and $A1.5bn. Founder Harry Triguboff says that if Meriton is divested by him, he could gain up to $A15bn and switch his focus to infrastructure developments such as water reservoirs. He also argues that there is scope for further official cash interest rate reductions by the Reserve Bank of Australia

CORPORATES
MERITON APARTMENTS PTY LTD, RESERVE BANK OF AUSTRALIA, GRANT SAMUEL AND ASSOCIATES PTY LTD, COUNTRY GARDEN HOLDINGS COMPANY LIMITED, IBISWORLD PTY LTD, WOOLWORTHS LIMITED – ASX WOW

Chinese buyers eyeing food, dairy, says UBS

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Original article by Anthony Macdonald
The Australian Financial Review – Page: 11 & 18 : 14-Jan-15

David Chin of UBS expects Chinese companies to become more active in acquiring assets in Australia’s agribusiness sector. Chin notes that the issue of food security is becoming increasingly important in China, which is likely to prompt greater interest in Australia’s food and dairy products sectors, as well as rural properties. Chin also expects Chinese groups to be interested in the privatisation of Queensland and New South Wales electricity assets

CORPORATES
UBS AG, DEALOGIC (AUSTRALIA) PTY LTD, STATE GRID CORPORATION OF CHINA, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG

Crown land a ‘big fire risk’

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Original article by Katherine Fleming
The West Australian – Page: 3 : 12-Jan-15

Western Australia’s Association of Volunteer Bush Fire Brigades wants Crown land to be subject to the same laws regarding the mitigation of fire risks as privately-owned land. Association vice-president Dave Gossage notes that at present the penalties for private landowners do not apply to land that is managed by federal, state and local governments. Some 92 per cent of land in the state is Crown land

CORPORATES
ASSOCIATION OF VOLUNTEER BUSH FIRE BRIGADES OF WESTERN AUSTRALIA INCORPORATED, WESTERN AUSTRALIA. DEPT OF FIRE AND EMERGENCY SERVICES, WESTERN AUSTRALIA. DEPT OF LANDS

Commercial deals a record $26.8b

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 9-Jan-15

Data from CBRE shows that there was six per cent growth in sales of Australian commercial properties worth at least $A5m in 2014, to a new high of $A26.8bn. Sales of industrial properties rose by 55 per cent to $A5bn, while sales of office buildings grew by two per cent to $A14.5bn. Separate figures from Jones Lang LaSalle suggest that commercial property sales rose by 16 per cent to $A28.2bn in 2014

CORPORATES
CBRE PTY LTD, JONES LANG LASALLE AUSTRALIA PTY LTD, GPT GROUP – ASX GPT, CBUS PROPERTY PTY LTD, DEXUS PROPERTY GROUP – ASX DXS

$9m sale smashes Coogee record

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Original article by Anna Anderson
The Sydney Morning Herald – Page: 6 : 8-Jan-15

A five-bedroom house has set a new record sale price for the beachside suburb of Coogee in New South Wales. The house, which features a swimming pool, cabana, five bathrooms and a temperature-controlled wine cellar was sold by lawyer Danny Simmons for $A9m. The median house price in Coogeee was $A1.85m in 2014

CORPORATES
CLIFFORD CHANCE, PHILLIPS PANTZER DONNELLEY, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ

Smaller blocks all the rage in Perth

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Original article by Kate Emery
The West Australian – Page: 7 : 5-Jan-15

Data from Western Australia’s Department of Planning shows that there has been a sharp rise in the number of housing lots in Perth that are less than 500sq m. The median size of housing lots in Perth and the Peel Region was 564sq m in 2004, but this fell to just 410sq m in 2014. Joe Lenzo of the Property Council notes that house sizes have generally not changed, despite the trend toward smaller residential lots

CORPORATES
WESTERN AUSTRALIA. DEPT OF PLANNING, PROPERTY COUNCIL OF WESTERN AUSTRALIA, URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (WESTERN AUSTRALIAN DIVISION) INCORPORATED, BEXLEYS REAL ESTATE