Today
UBS, Centuria Bass Credit team up for inaugural warehouse facility
The Swiss investment bank has put up an initial $100 million senior secured commitment as it increases its exposure to Australia’s non-bank real estate lending sector.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Construction, labour woes force developer to offload $200m of sites
APH Holding, which has a multibillion-dollar pipeline of Melbourne projects, has put more than $200m worth of sites on the market, including many with permits
- Larry Schlesinger
Melbourne ‘a proper basket case’ as office vacancy hits 20pc
As tenants shift into new towers, older and emptier office blocks will be deemed functionally obsolete.
- Nick Lenaghan
- Exclusive
- Retail property
Leica backs Melbourne CBD revival with world’s biggest store
The famed German camera maker has transformed an entire building in the Melbourne CBD into a retail hub that includes an art gallery.
- Larry Schlesinger
Yesterday
The Hong Kong tower that symbolises China’s credit bubble bust
The woes at the building symbolise a credit bust that hit the city after the Chinese government’s crackdown on excessive leverage ended a property frenzy.
- Lorretta Chen and Pearl Liu
Sale price for Captain Cook pub doubles to $35m since 2020
The price paid for the Botany hotel by publican Kent Walker is in sharp contrast to the $6.6m paid recently for the Captain Cook Hotel in Paddington.
- Larry Schlesinger
- Analysis
- Office
Tourism gimmicks won’t save the office wastelands of Canary Wharf
The landlords who own the old business districts need to be far bolder, and come up with some genuinely radical solutions as major firms head for the exits.
- Matthew Lynn
- Analysis
- Big four
The new risk lurking in banks’ commercial real estate lending
While working from home is a known risk for office towers, Citi highlights a new pressure point for lenders – the growing cost of the energy transition.
- James Eyers
This Month
Haben raising $263m to bankroll QIC’s Westpoint shopping centre buy
Potential investors have been told to expect 6.6 per cent in average annual distributions which would be paid quarterly, and at least 17 per cent pre-tax IRR.
- Sarah Thompson, Kanika Sood and Emma Rapaport
The Sydney-born solution to NYC’s paragon of inefficiency
Architect Ben Berwick’s modular glazing system for saving energy costs is more than window dressing.
- Matthew Drummond
- Exclusive
- Office
The 19 corporate giants behind Sydney’s tumbling office values
Australia’s biggest companies have cut close to 200,000 square metres from their Sydney CBD office footprints. And so far, only Westpac is considering expanding again.
- Campbell Kwan
- Opinion
- Chanticleer
World’s biggest IPO has Australian flavour and implications
It might lack burritos, but we’re watching Lineage, a food storage play with Australian assets trying to secure a $30 billion listing.
- Anthony Macdonald
Melbourne a launching pad for Hong Kong hotel brand
Lanson Place will open its first Australian property in September after spending $80m repurposing the former Salvation Army Printing Works in East Melbourne
- Larry Schlesinger
Dexus poaches AustralianSuper’s infrastructure tsar Nik Kemp
It is the biggest hire so far by the company’s new chief executive, Ross Du Vernet, who took over the top post from long-serving Darren Steinberg this year.
- Nick Lenaghan
- Exclusive
- Co-working
Consolidation coming to co-working as Melbourne rivals merge
CreativeCubes, backed by Flight Centre co-founder Geoff Harris, has bought five Melbourne hubs from Workspace365 as it prepares for an offshore assault.
- Larry Schlesinger
Office funds post their worst performance since GFC
ISPT 50 Lonsdale Street Property Trust and the Mirvac Wholesale Office Fund were the worst performers, posting declines in total return of more than 20 per cent.
- Campbell Kwan
PGIM hops on private credit boom with $750m fund
The global fund manager’s first local private credit fund has raised $300 million and received an additional $300 million in commitments so far.
- Campbell Kwan
- Exclusive
- Industrial relations
CFMEU deal helps add 10pc to apartment costs
The CFMEU’s latest wages deal for NSW will increase labour costs by up to 19 per cent in the first year alone, a new analysis finds.
- David Marin-Guzman
The $175b super fund that’s shopping for old London office blocks
With $11 billion in its property portfolio, Aware has been unafraid of going early and hard with a countercyclical strategy. And it means going global.
- Nick Lenaghan
Now is the time to buy commercial property, says this veteran analyst
Veteran real estate research analyst Sameer Chopra says population growth and the high cost of construction will lead to property values surging.
- Larry Schlesinger
