This Month
Why Aesop is putting algae on its shopfronts
The upcoming Melbourne Design Week reveals ideas already in use that could change our world. But getting them to scale is no simple task.
- Michael Bleby
Developers cash in as investors spend big on fast food and childcare
Nearly $50m was splashed by investors at a commercial property auction in Sydney, of which almost half was spent on fast food outlets on long leases.
- Larry Schlesinger
Why Michael Hill chose Chadstone to sell $1m diamond earrings
Michael Hill’s global flagship store will open in Melbourne’s biggest mall Chadstone, and will include a $1m pair of yellow diamond drop earrings.
- Larry Schlesinger
April
Stockland says interest rates key to further market improvement
The country’s largest listed diversified developer said sales picked up in the March quarter, but lower borrowing costs were needed for the housing market to pick up.
- Updated
- Michael Bleby
- Exclusive
- Food & drink
Jon Adgemis’ lender pushes to sell his Darlinghurst Hotel
Another lender does not want the sale to go ahead. The crisis highlights the rosy valuations of the indebted pub baron’s properties.
- Primrose Riordan
‘Get out now’: empty stores haunt iconic Sydney shopping streets
Retailers on Paddington’s Oxford Street and Newtown’s King Street are feeling the pinch of high operating costs and declining consumer confidence.
- Campbell Kwan
The Melbourne shopping hotspot that became a ‘ghost town’
Businesses on Bridge Road in Richmond, which has a whopping 15.5 per cent vacancy rate, fear an insolvency snowball effect.
- Gus McCubbing and Larry Schlesinger
Adgemis’ Bondi auction looms as Deutsche, Gemi try to muster a deal
Angas Securities said it had turned down two proposals from the bank, which is negotiating a $500 million refinance, and is trying to get its money back.
- Primrose Riordan and Max Mason
Data centre builders fight infrastructure for heavy cranes
Demand for the heaviest type of crane has pushed up costs at twice the rate of ordinary commercial cranes. And there aren’t enough of them.
- Michael Bleby
- Investigation
- Food & drink
Jon Adgemis’ high-wire act is coming unstuck
The former KPMG dealmaker burst onto the hospitality sector after buying up a string of venues. Huge debts and angry lenders are threatening to push it over.
- Primrose Riordan and Sarah Thompson
Jon Adgemis races for rescue deal in talks with Deutsche Bank
Bain Capital formally walked away from a $500 million-plus refinancing of his empire last weekend.
- Primrose Riordan
- Exclusive
- Luxury fashion
Theatre king David Marriner sells Chanel building for $75m
Theatre impresario and developer David Marriner has sold the multistorey Chanel building in Melbourne for $75m to the fashion house’s billionaire owners.
- Larry Schlesinger
Boston eyes commercial tax rise to counter office market dip
The city’s plan would favour home owners while potentially deepening the pain for commercial real estate during a nationwide slump in office demand.
- Brooke Sutherland and Sri Taylor
March
- Exclusive
- Commercial real estate
Cushman & Wakefield taps Noral Wild to lead, deepens alternatives push
The commercial agency’s appointment of a new CEO for Australia and New Zealand signals the trends in commercial property it is aiming to tap.
- Updated
- Michael Bleby
Why invest in a house when you can get a 5pc yield on a laundromat?
The exodus of investors from the housing market is fuelling demand for small commercial properties like laundromats offering higher returns and sticky tenants.
- Larry Schlesinger
Giants deputy chairman cashes in on fast food
Adrian Fonseca and developers Ben and Jono Isaac were the big winners from a property auction after selling a McDonald’s in Newcastle for $5.5 million.
- Larry Schlesinger
BWP hits 58pc ownership to secure Bunnings deal
As of Monday morning, the Bunnings landlord held 57.5 per cent of voting power in its smaller rival. It could end up with over 80 per cent.
- Larry Schlesinger
- Exclusive
- Pubs
Debt-laden Adgemis mortgages mum’s and grandmother’s homes
The ex-KPMG dealmaker has denied the loans are related to the hospitality empire he is hoping to refinance.
- Primrose Riordan
- Exclusive
- Supermarkets
Woolworths pays $51m for suburban mall in supermarket turf war
The supermarket giant’s property arm quietly snapped up the Niddrie Central mall in Melbourne’s north to maintain control of a key suburban site.
- Larry Schlesinger
Central Equity directors turn to small malls for better returns
The families behind apartment giant Central Equity are buying up regional malls and shops on suburban strips amid a revival in retail property demand.
- Larry Schlesinger