Property

  • Centro loses $352m in US

    Debt-stricken Centro Properties Group has announced a heavy operating loss and property value write-downs in an important part of its American operations.

  • GPT securities pay price for Babcock connection

    Nervous investors have cut almost 10 per cent off GPT Group securities over the past two days on the back of concerns about its international property joint venture partner Babcock & Brown.

  • Harley: Hungry builders more price-competitive

    The credit crisis has struck again

  • Unlisted trusts shine but the future is not bright

    Superannuation funds are trading units in major wholesale property vehicles at substantial discounts in what could be a leading indicator for the sector.

  • Take-off for $1.7bn Cook Cove project

    Sydney developer John Boyd, in a joint venture with Westpac Funds Management, has started work on one of the country's largest airport office precincts, the $1.7 billion Cook Cove project in Sydney.

  • A lull rather than a meltdown at the mall

    The retail environment is challenging, but it's nothing the developers can't handle, writes Lisa Carapiet.

  • Self-storage books $7m buy

    Reed International Books Australia has sold two vacant industrial sites in Marrickville, Sydney, to Metro Storage Group for $7.15 million

  • ROAD SIGNS ON THE WAY TO A NEW FLOOR

    In the near future Australia's retail investors and owners will get a big shock.

  • Talking shop on WA size limit

    The owners of a shopping centre in Perth's northern suburbs will begin fresh talks with the Western Australian Planning Commission today, in a bid to win a four-year battle to expand their operation and capitalise on strong retail sales in the state.The Tan family, owners of Kingsway City Shopping Centre, have found themselves caught up in the state's planning laws, which put a cap on the size of shopping centres.

  • APN gets partner for Collins Street

    APN Property group has struck a joint-venture agreement with Leighton Properties to develop its planned 33-storey office tower on Collins Street in Melbourne.

  • CapitaLand builds

    Singapore-based property giant CapitaLand Limited has increased its stake in Australand Property Group.

  • Chun to take reins at Becton

    Becton Property Group's board has installed Matthew Chun as the company's new chief executive as it tries to steer its way through a tumultuous time for the sector.

  • Van Anholt takes six months off

    Goodman Group's Asia Pacific chief executive David van Anholt has taken a six-month sabbatical leave and will be replaced by former Wallaby great Jason Little.

  • Sunland rides counter-cycle

    Cashed-up Gold Coast-based developer Sunland is attacking the real estate downturn on two fronts - it will further expand offshore and scour the domestic sector for real estate bargains.

  • Reef Casino triumphs over tourism slump

    The lack of Japanese tourists coupled with higher fuel prices and a flat domestic tourism sector has not stopped the Reef Casino Trust, which controls the Reef Hotel Casino Complex in Cairns, from reporting a 17 per cent increase in revenues to $11.2 million.

  • Trust loses on the swings

    Macquarie Leisure's key asset, Dreamworld, took a battering at the hands of valuers, sustaining a $42.7 million downward revaluation from its previous book value to $320 million during the year.

  • Axa fund's 3-star rating put on hold

    Standard & Poor's has put its three-star rating on Axa Asia Pacific's Wholesale Australian Property Fund on hold following the insurer's decision to list the $1.07 billion fund on the stock exchange.

  • Write-downs hit Austock

    Financial services business Austock Group has revealed more problems in its property division, but yesterday said that its trading position was better than expected.

  • Golf club clears legal bunker

    Portsea Golf Club on Victoria's Mornington Peninsula has cleared its final legal hurdle to develop a subdivision on its course after defeating a bid to downsize the project.

  • Sell the car and buy an airport

    Goulburn Mulwaree Council is selling its Goulburn Airport at auction after the facility had been underutilised for years.

  • Locals boost Viva's coffers

    The first resident who moved into Evolve this week did not really need the removal van she booked

  • Tenants will pay to be green

    More than half the tenants in Australia's capital city office buildings would pay higher rents to work in a more sustainable space, according to a major survey by Colliers International.

  • Australian buyers leave NZ in lurch

    Investment activity in New Zealand's commercial property market has come to a virtual standstill as Australian investors have pulled out of the country, according to CB Richard Ellis.

  • NSW estate sells as cheaper option to Queensland

    It's not often Queensland real estate is priced more expensively than in NSW, but Gold Coast developer Peter Mitchell is using this fact to lure tenants to his $350 million industrial estate in northern NSW.

  • Briefs

    Talks on two Kidman WA stations

  • Time for Tea as sale tests water

    Ignoring the string of landlords writing down the value of their commercial property, the Victorian government is looking to offload a landmark Melbourne building, saying it believes the market is still strong.

  • Gear yourself to the eyeballs

    "Get big, get boutique or get out." That is the message delivered by the head of real estate for Macquarie Relationship Banking, Nick Dowling.

  • Lehman moves to offload assets

    Lehman Brothers, seeking to restore investor confidence after a second-quarter loss of $US2.8 billion ($3.2 billion), is negotiating to sell commercial real estate assets to a group including BlackRock.

RTC model

The US appears to be putting its houses - Fannie and Freddie - in order, writes Glenn Mumford.