REAL ESTATE – AUSTRALIA – COMMERCIAL

Tax Office forced to build Gosford offices

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Original article by Noel Towell
The Sydney Morning Herald – Page: 4 : 27-Oct-14

Finance Minister Mathias Cormann stresses that the Australian Government is honouring an election pledge by opening a new office building in the regional New South Wales town of Gosford for the Australian Taxation Office (ATO). The move has been criticised by the Opposition as it comes at a time of major job cuts at the ATO and as it has a surplus of 6,200 seats across its premises nationwide. There has also been neither a business case nor cost-benefit analysis, in breach of the Finance Department’s requirements for new property leases by civil service agencies

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY

Construction sector firms

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Original article by Michael Bleby
The Australian Financial Review – Page: 50 : 21-Oct-14

Master Builders Australia (MBA) has reported that non-residential construction has returned to a growth phase. Its quarterly survey of the construction industry suggests that the turnaround, after more than four years of indicating contraction, is not a temporary trend. The MBA’s commercial construction index rose to 54.4 points in the third quarter of 2014, compared with 49.2 in the previous quarter

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, MASTER BUILDERS AUSTRALIA INCORPORATED, HANSEN YUNCKEN PTY LTD, ROYAL ADELAIDE HOSPITAL

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

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

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

Hot-desking hit with landlord

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 31 : 22-Jul-14

Commercial landlords are not worried by a new trend in office space management. Hot-desking, or activity-based workspaces (ABW), has not had a negative impact on office occupancy rates despite what had initially been expected. Charter Hall co-MD David Southon does not see a major contraction in space requirements. Charter Hall expects ABW to generate cost efficiencies and productivity gains in its office tower at 1 Martin Place in Sydney

CORPORATES
CHARTER HALL GROUP – ASX CHC, DELL COMPUTER CORPORATION, JONES LANG LASALLE AUSTRALIA PTY LTD