REAL ESTATE BUSINESS – AUSTRALIA

Five legal battles to watch in 2016

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 30 : 13-Jan-16

Some high-profile legal disputes in the Australian property sector will be contested in court during 2016. A tenancy dispute between Roy Morgan Research and Impact Investment Group will return to court in February. The Gary Morgan-led market research firm was briefly locked out of its offices in Melbourne’s Collins Street in late December 2015, before a court ordered Impact to grant access to the building. Construction, Forestry, Mining & Energy Union officials John Setka and Shaun Reardon will defend blackmail charges arising from an industrial dispute with Grocon that subsequently embroiled Boral. Sunland Group faces a damages claim by former employee Marcus Lee, while litigation is continuing between Grocon and APN Property Group.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IMPACT INVESTMENT GROUP PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, GROCON PTY LTD, BORAL LIMITED – ASX BLD, SUNLAND GROUP LIMITED – ASX SDG, APN PROPERTY GROUP LIMITED – ASX APD, SUPREME COURT OF VICTORIA, FEDERAL COURT OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, HIGH COURT OF AUSTRALIA, LEND LEASE GROUP LIMITED – ASX LLC, PRIME RETIREMENT AND AGED CARE PROPERTY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

McGrath falters on first ASX day

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Original article by Robert Harley, Larry Schlesinger
The Australian Financial Review – Page: 35 : 8-Dec-15

Shares in McGrath Limited closed at $A1.835 on 7 December 2015, giving the real estate group a market capitalisation of $A227.9m. The stock was issued at $A2.10 per share, with founder John McGrath reducing his stake from 58.4 per cent to 27 per cent in the IPO. McGrath Limited expects to post a net profit after tax of $A21.1m in 2015-16, compared with $A18.3m previously.

CORPORATES
McGRATH LIMITED – ASX MEA

McGrath to get $112m from company float

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Original article by Samantha Hutchinson
The Australian – Page: 28 : 12-Nov-15

McGrath Real Estate will have a market capitalisation of around $A282m when it lists on the Australian sharemarket in December 2015. The real estate group is offering 134 million shares priced at $A2.10 apiece in its IPO. McGrath Real Estate has raised $A128.2m via an institutional bookbuild that closed on 11 November. Founder John McGrath will retain a 26.7 per cent stake in the business.

CORPORATES
McGRATH REAL ESTATE PTY LTD, JP MORGAN AUSTRALIA LIMITED, BELL POTTER SECURITIES LIMITED, REALOGY CORPORATION, BERKSHIRE HATHAWAY REAL ESTATE SERVICES

McGrath sale makes way for float

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 7-Oct-15

Australian real estate group McGrath will buy out franchisee Shane Smollen, who operates 10 real estate agencies in Sydney under the McGrath banner. Smollen boasts a sales team of 65 and manages some 2,200 rental properties. McGrath had 12 company-owned offices and about 60 franchises prior to the deal with Smollen.

CORPORATES
McGRATH REAL ESTATE PTY LTD

TripAdvisor for property agents raises $6 million

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Original article by Paul Smith
The Australian Financial Review – Page: 22 : 30-Jun-15

South Africa-based Hollard Investments will provide some $A6m of funding to real estate website OpenAgent.com.au and gain a seat on the start-up’s board. The website allows consumers to rate the performance of real estate agents and compare statistics on property sales. OpenAgent.com.au has previously raised $A2m from a number of angel investors.

CORPORATES
OPENAGENT.COM.AU, HOLLARD INVESTMENTS BV, TRIPADVISOR LLC, TRULIA INCORPORATED, McKINSEY AND COMPANY, HOLLARD FINANCIAL SERVICES PTY LTD, GREENSTONE LIMITED

Domain vs REA: apples for apples audience numbers from Roy Morgan Research

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Feb-15

A Roy Morgan Single Source survey has found that more than 3.5 million Australians aged 14+ accessed Realestate.com.au via its website or app in an average four weeks in the six months to December 2014. This compares with 3.3 million during the same period in 2013. Some 1.7 million Australians accessed Fairfax Media’s Domain in the second half of 2014, down from 1.8 million in the previous corresponding period. The total audience growth for Realestate.com.au comprised an increase in the number of both website visitors (up six per cent) and mobile phone or tablet app users (up seven per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, REALESTATE.COM.AU, REA GROUP LIMITED – ASX REA