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Commercial real estate

This Month

Singaporeans pump $490m into ‘green’ industrial development fund

The latest investment in a new ESR fund takes sovereign wealth fund GIC’s commitment to Australian industrial property to more than $1b in less than a month.

  • Larry Schlesinger

Nuveen eyes opportunities in ‘brown discounts’ for old buildings

The $US156 billion real estate fund manager says the growing disparity between new and old office assets creates scope for profit – once values have fallen enough.

  • Michael Bleby

Downsizers snap up apartments overlooking Flemington Racecourse

Developer Pace’s Darley apartment project overlooking Flemington Racecourse in inner Melbourne is 55 per cent sold out in just four months.

  • Larry Schlesinger

A little psychology can turn empty offices into people magnets

The loud voices arguing all-or-nothing don’t represent the majority. Many businesses are fully embracing some form of hybrid approach.

  • Selina Short

Safer than bonds: $79m Bunnings sale sets new yield benchmark

Investor Jacky Cheung purchased the Bunnings in Hoppers Crossing on a new low yield of 3.95 per cent having identified it as “the safest place to park” his money.

  • Larry Schlesinger

Centennial buys $35m warehouse to close out first fund with KKR

Softening cap rates mean value is just starting to emerge again in industrial properties after a hot period, the buyer of one western Sydney asset says.

  • Michael Bleby


$350m Cronulla project gets tick of approval

The mixed-use development featuring apartments above offices and shops at the northern end of Cronulla Plaza is due to be completed by mid-2025.

  • Larry Schlesinger

Pandemic clouds around the office sector darken

Commercial office property was seen as more resilient than hotels for the first two years of the pandemic. But that’s changed.

  • Michael Bleby

Atrium-style Adelaide mall best ‘mini gun’ in the country

Adelaide’s Burnside Village generated $238m in total annual sales over the 12 months to July 31, making it the best performing small mall in the country.

  • Larry Schlesinger

Liberman-backed Impact to sell 54 Wellington project in Collingwood

The developer of a troubled Melbourne office building is looking for a $160 million exit from an unexpectedly difficult project.

  • Michael Bleby

Office rents on the rise as tenants ‘trade up’ to bring back workers

A willingness among corporate tenants to upgrade to newer, better buildings has lifted office rents in Sydney and Melbourne despite higher vacancy rates.

  • Larry Schlesinger

‘I’ve never been in an office building before’

How does a 15-year-old respond to an office building? One work experience student gives her views.

  • Scotia Whiting

Rich Lister secures $100m for non-bank lender but avoids apartments

Tony Denny says the risks in funding apartment construction are too high, but are manageable in land subdivision projects and smaller commercial developments.

  • Larry Schlesinger

Telstra Super sells Carlingford Court stake for $120 million

In selling the metropolitan mall, the super fund has benefited from a 36 per cent mark-up on the asset it purchased 9 years ago.

  • Michael Bleby

Green light for $500m Pitt Street hotel skyscraper

The 58-storey tower at the southern end of Pitt Street opposite the World Square mall will include a 297-room hotel and 30 apartments.

  • Larry Schlesinger

Pop-up libraries help Melbourne move on from lockdowns

One of the world’s most locked-down cities during the pandemic is rejuvenating itself and healing its locals – one page at a time.

  • Chris Bourke

Real estate fundie Valore eyes $1b for new fund

A big drawcard would be Pelligra Group’s deep pockets and access to juicy real estate deals.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

Frasers builds towards $10b logistics portfolio with Sydney land grab

Frasers Property Industrial boss Ian Barter said he would be disappointed if the logistics developer did not nearly double its $5.5b portfolio within four to five years.

  • Larry Schlesinger

Pulling down Brisbane’s Gabba for the Olympics is a bad idea

The Queensland government and Brisbane 2032 Olympics organisers are going down an expensive route to get a new flagship venue, architects warn.

  • Michael Bleby

Marprop enters Adelaide with $70m tower deal

Purchased on behalf of an offshore institution, it is Marprop’s first acquisition in South Australia. The deal tops off about $600 million worth of transactions.

  • Nick Lenaghan