Commercial real estate
Retail sales slide, but Vicinity shopping centres prove ‘resilient’
Visitors to the retail property group’s sites, including Melbourne’s Chadstone, climbed more than a third following a recovery in tourism and as more workers returned to the office.
- by Stephen Miles
Latest
Mirvac, Dexus swing to losses on empty offices
Falling office property valuations, bad weather and the effects of rising interest rates have become strong headwinds for the two major real estate investment groups.
- by Carolyn Cummins
Rents soar: Manufacturer Central Steel finds a new home in low vacancy market
The manufacturer has signed a lease for a 10,301 square metre industrial warehouse at a new speculative development in Somerton, in Melbourne’s north.
Dead centre: The Queen Victoria Market’s hidden past comes to light
The historic market draws more than 10 million visitors annually, a marked transformation for the site of Melbourne’s first cemetery.
- by Stephen Crafti
Historic Mount Martha pub on the market
The original building was formerly home to the Sisters of Charity and a boarding school, before becoming a preparatory school for boys in the 1920s. It was redeveloped as The Dava Lodge Hotel in the 1930s.
- by Nicole Lindsay
Exclusive
Goodman Group
Goodman boosts its portfolio with new $100m green star-rated park
The industrial property giant has bumped up its green credentials with a new business park in Melbourne’s south-east.
- by Carolyn Cummins
Yang family selling Bexley North pub in a frothy market
The Yang family is selling the sprawling Bexley North Hotel, which has the potential to be redeveloped as a mixed-use site.
- by Carolyn Cummins
High-end art and car prices drop as the ultra-rich tighten belts
High-end art work and upmarket jewellery are the most sought after collectables for the ultra-rich investor, but with recession concerns and rising interest rates, even those with cash are scaling back on over spending.
- by Carolyn Cummins
Analysis
Development
‘Recovery fragile’ but land sales show first green shoots
Land sales for new housing at greenfields estates across Melbourne and Geelong rose 13 per cent in the second quarter, ending a run of six straight quarterly declines. The median lot price also jumped 1.3 per cent to a record $385,000.
- by Stephen Miles
Shepparton Dan Murphy’s changes hands for $13 million
A Dan Murphy’s outlet supported by an Aldi supermarket and five speciality retailers in Shepparton has been sold for $13 million.
Exclusive
Hotels
Backpackers to flashpackers: The new global travellers
The return of backpackers and budget travellers has sparked a renewed demand for hostel-style accommodation, but ones that offer a higher standard of technology and amenities that will cater for a new wave of travellers.
- by Carolyn Cummins