L67 Property Operators and Real Estate Services

Outer suburbs join $1m club

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Original article by Shane Wright, Liam Croy
The West Australian – Page: 9 : 26-Aug-14

Nearly 50 suburbs in Perth have a median house price of at least $A1 million in 2014. RP Data-Rismark reported that the most expensive suburb was Peppermint Grove, with a median price of over $A3.7 million. Other expensive suburbs are Dalkieth, Cottesloe, City Beach, Applecross, Swanbourne and Mosman Park. However, the prices of houses in some suburbs on the outer fringes have increased. The median price for a house at Mariginiup is $A1.3 million

CORPORATES
RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD, RISMARK INTERNATIONAL PTY LTD, PEARD AND ASSOCIATES REAL ESTATE

Landlords hit by glut of apartments

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Original article by Michael Bleby,Samantha Hutchinson
The Australian Financial Review – Page: 5 : 21-Aug-14

The growth of the apartment market in Sydney and Melbourne has prompted a sharp downturn in rental income for landlords. RP Data notes that there has been a 6.4 per cent fall in weekly advertised rents for apartments in Melbourne’s Southbank precinct in the last year, and a 3.6 per cent fall in the Docklands. Property consultant Margaret Lomas says demand for apartments in Melbourne is significantly outpacing supply

CORPORATES
RP DATA LIMITED,CORELOGIC AUSTRALIA PTY LTD,DESTINY PROPERTIES PTY LTD,VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

Apartment appeal on the up

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Original article by Rebecca Thistleton
The Australian Financial Review – Page: 41 : 19-Aug-14

There is strong demand for apartment development sites in inner Melbourne. A vacant site in Carlisle Street in St Kilda, with a permit for a 68-unit project, was sold for $A6.8 million. A site at 30 Inkerman Street in St Kilda, with a permit for a 54-unit development, was sold for over $A6 million. Another site at 71 Inkerman Street, with a permit for a 22-unit development, is also for sale

CORPORATES
HAYBALL PTY LTD, ELEMENT FIVE PTY LTD, CBRE PTY LTD, BUILDCORP COMMERCIAL PTY LTD, ALPHA14 PTY LTD

Investors queueing for elusive dairy farms

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Original article by Matthew Cranston
The Australian Financial Review – Page: 39 : 18-Aug-14

The Australian Dairy Farms Group plans to list on the Australian sharemarket in October 2014. However, there are relatively few opportunities for investors to buy into companies that own dairy farms, despite the strong growth in demand for dairy products in recent years. Corporate and Chinese investors account for more than 50 per cent of investors who will attend the Australian Dairy Farm Investment Forum in September

CORPORATES
AUSTRALIAN DAIRY FARMS LIMITED, BELL POTTER SECURITIES LIMITED, BELL FINANCIAL GROUP LIMITED – ASX BFG, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, PACTUM DAIRY GROUP PTY LTD, HARVEY FRESH, DAIRY AUSTRALIA, KIDDER WILLIAMS LIMITED, ACE FARMING PTY LTD, VALAD PROPERTY GROUP, BLACKSTONE REAL ESTATE ADVISORS LLC, DUXTON ASSET MANAGEMENT PTE LTD, NORCO CO-OPERATIVE LIMITED

Commercial space returns up on 2013

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 14-Aug-14

The latest data from the Property Council of Australia and IPD shows that industrial, retail and hotel properties delivered an average return of 9.7 per cent in 2013-14. This is 50 basis points higher than in 2012-13. IPD’s Anthony De Francesco anticipates that returns will top 10 per cent in the 2014 calendar year. However, the All Property Index data also shows that the total return on commercial property eased to 8.9 per cent

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, IPD, INVESTMENT PROPERTY DATABANK

High vacancies hit office floors

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 11 : 7-Aug-14

New data shows that the office vacancy rate across Australia has risen to 10.7 per cent, which is its highest level in 17 years. Melbourne and Sydney were the only capital cities in which the vacancy rate fell in the first half of 2014. David Harrison of Charter Hall expects the difficult market conditions to continue, noting that landlords have increased their incentives and new stock is coming onto the market in every major city

CORPORATES
CHARTER HALL GROUP – ASX CHC, PROPERTY COUNCIL OF AUSTRALIA LIMITED, DEXUS PROPERTY GROUP – ASX DXS, JONES LANG LASALLE AUSTRALIA PTY LTD, CADIGAL OFFICE LEASING PTY LTD

OVGA avoids key debate

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 38 : 5-Aug-14

The Office of the Victorian Government Architect (OVGA) supports the inclusion of mandatory apartment design standards in the state’s planning system. The OVGA issued a statement on the design standards on 4 August 2014. The minimum size of apartments should be 37 square metres. There is no mention of housing affordability in the statement, which the OVGA believes to be a "separate issue"

CORPORATES
OFFICE OF THE VICTORIAN GOVERNMENT ARCHITECT, PROPERTY COUNCIL OF VICTORIA, CITY OF MELBOURNE, VICTORIA. DEPT OF PLANNING AND COMMUNITY DEVELOPMENT

Nimby neighbours win again as St Kilda music venue shuts up

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Original article by Rebecca Thistleton
The Australian Financial Review – Page: 3 : 1-Aug-14

Victorian Planning Minister Matthew Guy is accused of dragging his feet on new legislation to safeguard the interests of live music venues as well as real estate developers when the two clash over new residential projects and noise. The live performances sector is calling for the urgent roll-out of promised "agent of change" laws, as the Pure Pop Records space in the Melbourne inner suburb of St Kilda closes. Music Victoria CEO Patrick Donovan notes that some local government councils have issued their own rules to protect live music venues, but that city planning and noise emissions laws are a state responsibility

CORPORATES
VICTORIA. DEPT OF PLANNING AND COMMUNITY DEVELOPMENT, PURE POP RECORDS, MUSIC VICTORIA, CITY OF YARRA, WOLLONGONG CITY COUNCIL, AUSTRALIAN LABOR PARTY, CHERRY BAR

Goodman pipeline hits $1bn in Brazil

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Original article by Kylar Loussikian
The Australian – Page: 17 : 1-Aug-14

Goodman Group CEO Greg Goodman has announced a turnaround for the Australian-listed industrial real estate developer’s Brazilian operations. In 2013 Goodman had been beaten to a portfolio of 34 sites by Global Logistics Properties of Singapore. However the WTGoodman joint venture with Brazilian market leader WTorre is now going to construct and lease a warehouse facility worth 62,000 sq m for a US client. Assets in Brazil are also owned by 9% Goodman stakeholder China Investment Corporation and by the developer’s Canada Pension Plan Investment Board and GIC financiers

CORPORATES
GOODMAN GROUP – ASX GMG, WTI PTY LTD, WTORRE SA, GLOBAL LOGISTIC PROPERTIES LIMITED, GIC REAL ESTATE PTE LTD, CANADA PENSION PLAN INVESTMENT BOARD, CHINA INVESTMENT CORPORATION, BR MALLS PARTICIPACOES SA, CB RICHARD ELLIS INVESTORS LLC, UBS GLOBAL ASSET MANAGEMENT (AUSTRALIA) LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD

Ultra-luxury apartment unlikely to sell

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 5 : 31-Jul-14

The architecture firm responsible for designing Sydney’s Crown Casino tower proposes to reserve the top three floors for a single apartment. There has been media speculation that the luxury penthouse could fetch around $A100m, but some real estate agents question whether anybody would be prepared to pay such a figure for an apartment in Australia. However, CBRE’s Justin Brown and Savills’ Adam Ross say such a price is possible

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CBRE PTY LTD, SAVILLS (AUST) HOLDINGS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, WILKINSON EYRE ARCHITECTS, SIMEON MANNERS PROPERTY