The body corporates for beachfront blocks on the Gold Coast have failed in their bid to knock back two land valuations by a combined $28 million, with a Land Court member finding oceanfront land fetches a higher premium.
Real estate returns are rebounding across all sectors, with the office sector entering a recovery cycle, led by the Sydney CBD, according to a new report from Dexus.
A court has found that United Petroleum is not bound by the terms of a signed lease offer sent to a neighbouring Gold Coast pharmacy operator, ruling the company’s property consultant had no authority to negotiate or enter into a new lease on its behalf.
Brookfield has scooped up a 19.9 per cent stake in real estate investment manager Cromwell Property Group.
Joining CBRE Investment Management in fast-tracking developer Aliro Group’s flagship industrial vehicle, Canadian super fund PSP Investments has committed up to $800 million for investment.
Abacus Storage Kings will open its books for a consortium of Ki Corporation and New York Stock Exchange-listed Public Storage, which lobbed a $2.2 billion takeover offer last week.
Developer Dennis Family Corporation has been hit with class action by purchasers of apartment units in Brisbane who allege their contracts were wrongly terminated after the market value of neighbouring properties soared by 40 per cent.
Investment firm Alceon and retail consultancy Aktiv have acquired major Gold Coast shopping centre The Strand Coolongatta for $142 million, with plans to upgrade the site.
Singapore-based real estate investment manager Frasers has offloaded an office tower on Melbourne’s Collins Street for $195 million in a strategic exit from the city’s “challenging” office sector.
A unit of developer Dennis Family Corporation has been hit with a class action by buyers of apartments in a Brisbane estate who claim their contracts were wrongly terminated when neighbouring property values soared.