L67 Property Operators and Real Estate Services

Apartment boom crowns Triguboff

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Original article by Michael Bleby
The Australian Financial Review – Page: 42 : 25-Sep-14

Meriton Group displaced BGC as Australia’s largest residential builder in 2013-14. according to the Housing Institute of Australia-Colorbond Housing 100 report. Meriton boasted 7,929 housing starts for the financial year, compared with 5,004 for BCG. The nation’s 100 largest home builders collectively boasted 66,764 housing starts in 2013-14, with apartments accounting for 24 per cent of dwelling commencements

CORPORATES
MERITON APARTMENTS PTY LTD, BGC (AUSTRALIA) PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED, ALCOCK/BROWN-NEAVES GROUP, METRICON HOMES, SIMONDS HOMES GROUP LIMITED, HENLEY PROPERTIES, JWH GROUP PTY LTD, HOTONDO HOMES, MASTERTON HOMES PTY LTD, BROOKFIELD MULTIPLEX LIMITED, LU SIMON PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, BEECHWOOD HOMES PTY LTD, AVELING HOMES PTY LTD, NICHE LIVING PTY LTD, HOME AUSTRALIA PTY LTD, METRO PROPERTY DEVELOPMENT PTY LTD, JAXON CONSTRUCTIONS, DIPLOMA GROUP LIMITED – ASX DGX, CAVALIER CORPORATION LIMITED, CAPITAL WORKS CONSTRUCTIONS PTY LTD, BOLD PROPERTIES, SOUTHERN VALE HOMES, ADENBROOK HOMES PTY LTD, ESSENTIAL FIRST CHOICE HOMES PTY LTD, J L FITENI HOMES PTY LTD, BOTANIC HOMES PTY LTD, MEGARA CONSTRUCTIONS PTY LTD, NOSTRA HOMES AND DEVELOPMENTS PTY LTD

Residents slam church’s ‘unforgivable’ deal

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Original article by Clay Lucas
The Age – Page: 10 : 24-Sep-14

The Uniting Church has been criticised for its deal with Leighton Properties for the development of a site in Lonsdale Street in central Melbourne. The Princess Mary Club will be demolished for the construction of an office tower. The heritage-listed building was erected in 1926 funded by philanthropic donations. The deal also involves the revamp of the Wesley Church and surrounding buildings

CORPORATES
LEIGHTON PROPERTIES PTY LTD, LEIGHTON HOLDINGS LIMITED – ASX LEI, UNITING CHURCH IN AUSTRALIA, MELBOURNE CITY COUNCIL, VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

Funds cash up for expansion

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Original article by Ben Wilmot
The Australian – Page: 30 : 23-Sep-14

Real estate investment trusts are raising capital for expansion. South African-listed Investec Australia Property Fund plans to raise $A120 million. It is buying a $A65.5 million office tower in central Brisbane. GPT Metro Office Fund aims to raise $A255 million in a bookbuild on 30 September 2014

CORPORATES
INVESTEC AUSTRALIA PROPERTY FUND, GPT METRO OFFICE FUND, GPT GROUP – ASX GPT, MORGANS FINANCIAL LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, LION PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, SAMSUNG (AUSTRALIA) PTY LTD, FIFE CAPITAL PTY LTD, IM MEDICAL LIMITED – ASX IMI, ADX MANAGEMENT LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ

House tax change may backfire: HIA

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Original article by Robert Harley
The Australian Financial Review – Page: 3 : 22-Sep-14

The Housing Industry Association (HIA) has argued against the dropping of negative gearing of investment real esate. In a research paper to be released on 22 September 2014, the HIA said that housing costs would be increased if negative gearing was reduced without changing other taxes. Critics of negative gearing claim that it increases the cost of housing. The report found that stamp duty was the largest tax distortion on housing

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, INDEPENDENT ECONOMICS

Minister denies plan is social engineering

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Original article by Kim Macdonald
The West Australian – Page: 9 : 22-Sep-14

The Western Australian Government has been criticised over public housing sales. After it was revealed that 55 state-owned properties are valued at over $A1 million, Housing Minister Bill Marmion said that high-value properties are usually sold. Shadow housing minister Fran Logan said that selling the properties was social engineering to keep poor people out of wealthier areas. He said that the land should be rezoned for public housing

CORPORATES
WESTERN AUSTRALIA. DEPT OF HOUSING, AUSTRALIAN LABOR PARTY

Planning disputes at VCAT take fall as price rises

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Original article by Clay Lucas
The Age – Page: 14 : 19-Sep-14

The Victorian Civil & Administrative Tribunal heard 2,186 planning disputes in 2013-14, down from 3,443 the previous year. However, its annual report revealed that it received nearly $A1 million more. Fees rose significantly from July 2013. Victorian Attorney-General Robert Clark said that changes to planning laws led to the drop in applications. The Opposition and a lawyer said that people could not afford the high fees

CORPORATES
VICTORIA. CIVIL AND ADMINISTRATIVE TRIBUNAL, VICTORIA. OFFICE OF THE ATTORNEY-GENERAL, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

Higher yields attract capital

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Original article by Robert Harley
The Australian Financial Review – Page: 37 : 16-Sep-14

Australia has attracted more than its share of global investment in commercial real estate since 2005. CBRE reported that Australia has attracted five per cent of investment, while accounting for only two per cent of the global economy. Stephen McNabb, of CBRE, said that Australia’s stable economic conditions led to higher interest rates and yields. He expects the trend to continue for 12-18 months

CORPORATES
CBRE PTY LTD, GIC REAL ESTATE PTE LTD

Woolworths’ pub fund lightens load with $603m property sale

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Original article by Ben Wilmot, Richard Gluyas
The Australian – Page: 17 : 9-Sep-14

Real estate funds management group Charter Hall and industry superannuation fund HOSTPLUS will jointly pay $A603m via a new unlisted vehicle to acquire pub assets. The seller of the freehold properties is the ALH Group linked to bottle shops and pubs operator Woolworths. The latter, through its venture with entrepreneur Bruce Mathieson, will lease back the 54 sites. The real estate holdings divestment by Woolworths has now reached $A2.9bn in value

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, CHARTER HALL GROUP – ASX CHC, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, BRUANDWO PTY LTD, HOST-PLUS, MH CARNEGIE AND COMPANY PTY LTD, AUSTRALIAN PUBS FUND, DAN MURPHY’S, BWS – BEER WINE SPIRITS, SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, LAUNDY HOTELS PTY LTD, TELSTRA STAFF SUPERANNUATION SCHEME, ALE PROPERTY GROUP – ASX LEP, HOTEL PROPERTIES INVESTMENTS – ASX HPI, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Correction in housing market ‘inevitable’

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Original article by Damon Kitney
The Australian – Page: 21 : 3-Sep-14

Residential real estate prices have risen an average 15% in a year in the Australian state and territory capital markets, while auction clearance rates in late August 2014 are around 70%. Australian Prudential Regulation Authority data also indicate that the main four banks are taking on riskier mortgage loan borrowers. However business leader David Gonski says while an eventual price decline is a certainty in the housing market, the banks are able to manage their lending strategies

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SCHULTE RESEARCH INTERNATIONAL

Agents deny Asian rorts in blue-chip buys

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 8 : 2-Sep-14

The Australian Parliament’s housing inquiry has heard claims about overseas buyers in the residential real estate market trying to circumvent Foreign Investment Review Board regulations. However, this is being dismissed by McGrath Real Estate Agents founder and CEO John McGrath and First National Real Estate CEO Ray Ellis. They argue against any push to lift stamp duty rates for such investors. Melbourne-based buyers’ agent David Morrell had alleged that Asian bidders were inflating prices by as much as 30% and acting illegally as they were not permanent residents

CORPORATES
MORRELL AND KOREN PTY LTD, McGRATH REAL ESTATE PTY LTD, FIRST NATIONAL REAL ESTATE GROUP, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, PROPERTY COUNCIL OF AUSTRALIA LIMITED, HOUSING INDUSTRY ASSOCIATION LIMITED, LIBERAL PARTY OF AUSTRALIA