L67 Property Operators and Real Estate Services

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

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