From the category archives:
Commercial
by admin on November 13, 2008
Stockland has struck the killer blow in the latest round of rationalisations in the beleaguered real estate trust sector with a raid on rival GPT’s register, paying up to $541 million for a strategic 12.7 per cent stake.
In a share swap and cash deal with fund manager Perennial Investment Partners, Stockland has snared the interest for about one-third of the amount it was willing to pay in late 2004 in its unsuccessful tilt at GPT.
At that time Stockland offered the equivalent of about $3.70 for each GPT security.
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by admin on October 26, 2008
I’ve seen estimates suggesting house prices will drop by up to 30% and similarly there are forecasts that commercial property is set to decline sharply.The commercial property market is a very different beast. But look across the myriad smaller deals reported every day and you’ll see commercial property motors on. In recent days someone sold a cafe in De Graves Street, off Flinders Lane, and got more than 100 bids.
business.theage.com.au
by admin on October 23, 2008
Only weeks after the aborted sale of Allco Finance Group’s $80 million half-share in 1 Spring Street, Challenger’s 330 Collins Street and GE’s 90 Collins Street are also out of due diligence. GE had hoped for about $160 million for its 22-storey 90 Collins Street building in a sale to Melbourne’s private Kador Group.GE paid $139 million for 90 Collins Street in December 2006 and had high hopes of selling the building.
theaustralian.news.com.au
by admin on October 23, 2008
Struggling property trust Valad Property Group sold two Bunnings Warehouses for $24.2 million this week.
theaustralian.news.com.au
by admin on October 2, 2008
Australia’s major banks are estimated to have a collective $200 billion exposure to the local commercial property market, a sector that is being drawn deeper into the worsening financial cycle.
Based on figures from investment bank Deutsche Bank, the nation’s top four banks each have a commercial property book — made up of retail, commercial and hotel assets — of $30-40 billion, with up to $6 billion of development.
read more about Banks nervous over level of commercial exposure
by admin on September 17, 2008
Financial instability, weakening confidence and the global credit crunch could push commercial property sales volumes to their lowest in five years, according to the head of Jones Lang LaSalle. more
by admin on August 25, 2008
Office landlords have been warned to lock in long-term, fixed rental increases in case the promised supply of new space sends rents tumbling within the next few years. The warning comes as analysts more
by admin on August 1, 2008
A WEB-based tool to assist commercial-property owners to make decisions about the long-term performance of their buildings has been released by the Property Council of Australia. read more
by admin on July 29, 2008
ANZ chief executive Mike Smith said several commercial property clients were among the doubtful debtors for which it had had to make provisions. The bank is also believed to have some large exposures in the hospitality industry that are under threat.
ANZ’s $850 million provisioning for individual clients is believed to have included an exposure to retail property group Centro of about $200 million. read more
by admin on March 25, 2008
THE death of Melbourne property king Ezriel Rabinowicz has further stalled takeover talks between Austock Funds Management and the Rabinowicz family over ultimate control of the publicly listed ANZ Rabinov Property Trust, which owns $300 million of commercial property.
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