L67 Property Operators and Real Estate Services

Elderly Welfare Street tenant stands ground in eviction row

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Original article by Rose Powell
The Sydney Morning Herald – Page: 8 : 5-Jan-15

Real estate investment groups HBW1 and Centennial Property in mid-2014 acquired residential assets from the New South Wales Government. One of the tenants now facing eviction, John Higgins, and his legal representatives from the Inner West Tenants’ Advice & Advocacy Service dispute a claim by the Lands Legal firm that the client ceased to be a protected tenant when the property was sold in 1989 to the Sydney Olympic Park Authority. Higgins maintains that his father signed the original lease in 1948 and that it is still in force. The Civil & Administrative Tribunal will hear the matter in early January 2015

CORPORATES
NEW SOUTH WALES. CIVIL AND ADMINISTRATIVE TRIBUNAL, SYDNEY OLYMPIC PARK AUTHORITY, LANDS LEGAL PTY LTD, STRATHFIELD REAL ESTATE PTY LTD, CENTENNIAL PROPERTY GROUP PTY LTD, INNER WEST TENANTS ADVICE AND ADVOCACY SERVICE, HBW1

Mantra finds Bali is far from a holiday

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Original article by Lisa Allen
The Australian – Page: 18 : 19-Dec-14

Australian-listed Mantra Group has indicated that it will focus on management agreements for hotels in Bali rather than franchise arrangements. The group manages the 49-villa Peppers Sentosa Seminyak resort in Bali, and recently dropped plans to operate hotels that have just been built at Nusa Dua and Legian. However, Mantra will open a new hotel in southern Bali in December 2015

CORPORATES
MANTRA GROUP LIMITED – ASX MTR, PEPPERS LEISURE LIMITED

Mosman sales break $1b level

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Original article by Luke Malpass
The Australian Financial Review – Page: 9 : 19-Dec-14

Corelogic RP Data has reported that sales of houses in the Sydney suburb of Mosman have topped $A1.1bn in calendar 2014, compared with almost $A8.1m in 2013. Tim Foote of Belle Property notes that Australian house buyers have dominated sales activity in the last year, whereas Chinese buyers accounted for many of the sales in Mosman during 2013. The Melbourne suburb of Brighton is ranked second in terms of the value of house sales, with $A797m worth of homes changing hands

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, BELLE PROPERTY PTY LTD

Pie Face hit with third New York lawsuit

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Original article by Eli Greenblat
The Australian – Page: 19 : 18-Dec-14

The landlord of a retail outlet in New York for collapsed Australian fast food chain Pie Face has launched a Supreme Court case to recover $US620,000 ($A760,000), after the company allegedly caused structural damage to the building. This is the third law suit against Pie Face in New York, with another property owner also seeking $US50,000 in outstanding rent charges and a building firm demanding to be paid close to $US120,000 for work at one of the stores

CORPORATES
PIE FACE PTY LTD, SUPREME COURT OF NEW YORK, NEW YORK ENVIRONMENTAL CONTROL BOARD

Lower $A draws local investors back to Hamilton Island

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Original article by Luke Malpass
The Australian Financial Review – Page: 3 : 17-Dec-14

New figures show that some $A54m worth of residential property has been sold on Hamilton Island in the last year, with turnover of properties reaching its highest level since 2007. Wayne Singleton of Hamilton Island Real Estate attributes the renewed interest to factors such as the falling value of the Australian dollar, low interest rates, the introduction of direct flights and improved infrastructure on the island

CORPORATES
HAMILTON ISLAND REAL ESTATE, AIRLIE BEACH AND WHITSUNDAY REAL ESTATE, RESERVE BANK OF AUSTRALIA

Property curbs pave way for RBA rate cuts

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 16 : 11-Dec-14

Martin Whetton of the ANZ Bank says the decision to implement measures aimed at curbing growth in loans for investment properties could lead a reduction in the cash rate. The bond market had anticipated such action by the Australian Prudential Regulation Authority, with the 10-year bond rate falling below three per cent and the three-year bond rate easing to 2.27 per cent

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COUNCIL OF FINANCIAL REGULATORS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TRIPLE T CONSULTING LIMITED

360 Capital grabs 7.7pc stake in rival REIT

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Original article by Ben Wilmot
The Australian – Page: 21 : 8-Dec-14

Stockholders in smaller industrial real estate investment trust (REIT) vehicles in Australia are calling on their managers to seek consolidation deals, in order to better compete with major rivals such as Goodman Group, Dexus Property Group and Stockland. In response, 360 Capital Group has bought a holding of 7.7% in competitor Australian Industrial REIT. The portfolio of assets owned by the target is worth $A308m, while the 360 Capital Industrial Fund has properties valued at $A501m

CORPORATES
AUSTRALIAN INDUSTRIAL REIT – ASX ANI, 360 CAPITAL INDUSTRIAL FUND – ASX TIX, 360 CAPITAL GROUP LIMITED – ASX TGP, GOODMAN GROUP – ASX GMG, DEXUS PROPERTY GROUP – ASX DXS, STOCKLAND – ASX SGP, MIRVAC GROUP – ASX MGR, APN PROPERTY GROUP LIMITED – ASX APD, FIFE CAPITAL PTY LTD, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED

Prime Trust directors banned

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Original article by Sarah Danckert
The Australian – Page: 21 : 3-Dec-14

Federal Court of Australia judge Bernard Murphy has handed down the penalties for the board members of the failed Prime Retirement & Aged Care Property Trust, following a successful civil case by the Australian Securities & Investments Commission. The breaches of the Corporations Act have resulted in bans from acting as a company director of two years and three months for chair Michael Wooldridge, 15 years for Bill Lewski, and four years each for Kim Jaques and Mark Butler. Fines of between $A20,000 and $A230,000 per individual have also been imposed

CORPORATES
PRIME RETIREMENT AND AGED CARE PROPERTY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, ASX LIMITED – ASX ASX, FEDERAL COURT OF AUSTRALIA, VISION EYE INSTITUTE LIMITED – ASX VEI, PLACES VICTORIA, AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED – ASX API, MONASH UNIVERSITY, UNIVERSITY OF MELBOURNE

Doctors warn against selling hospital land

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Original article by Harriet Alexander
The Sydney Morning Herald – Page: 10 : 3-Dec-14

Doctors at Sydney’s Royal North Shore Hospital are calling on New South Wales (NSW) Health Minister Jillian Skinner to honour a previously made promise not to divest part of the institution’s grounds. The real estate may generate a gain of $A97m for the NSW Government, but according to the medical practitioners will leave the facility unable to cope with growing demand as the population increases. Medical Staff Council representative Bruce Cooper notes that the hospital will exceed its current capacity in between three and four decades

CORPORATES
ROYAL NORTH SHORE HOSPITAL, NEW SOUTH WALES. MINISTRY OF HEALTH

Red-hot market means the only way is up for apartments … way up

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Original article by Matthew Cranston, Michael Bleby
The Australian Financial Review – Page: 1 & 10 : 27-Nov-14

A number of residential property developers have proposed to build apartment towers of at least 260 metres in Australia’s major capital cities. AMP Capital and Billbergia plan to construct a 300-metre tower in Brisbane, while Fragrance Group intends to build a 302-metre apartment tower in Melbourne. In Sydney, Mirvac is teaming up with Coombes Property Group to develop a 260-metre apartment tower. The boom in apartment development is in response to factors such as Australia’s growing population and the trend toward inner-city living

CORPORATES
AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, BILLBERGIA PTY LTD, FRAGRANCE GROUP LIMITED, MIRVAC GROUP – ASX MGR, COOMBES PROPERTY GROUP, ASPIAL CORPORATION LIMITED, UEM SUNRISE BERHAD