Westfield Group shares lift on merger plans
By a staff reporter, with AAPWestfield Group Ltd will move to merge its Australian and New Zealand business with Westfield Retail Trust Ltd to form a new venture to be known as Scentre Group.Investors...
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Prepare for a house price plateau
IndustriesPropertyCallam PickeringHow much more can investors get out of the housing market? Not a great deal.The 2013 house price ‘boom’ – if we can call it that – has largely been a Sydney affair,...
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Westfield's split signals a shift to an offshore focus
Adapt or Die Knowledge HubRetailStephen BartholomeuszWestfield has always had an unusual willingness to adapt its corporate structure to its environment, with that structure undergoing regulatory and...
View ArticleWestfield taps sporting connection
Sporting connections keep on giving when it comes to securing major business deals.That was demonstrated again yesterday with the Westfield restructure, where there are soccer ties between Rothschild...
View ArticleWestfield mulling US listing: report
The surprise split of Westfield Group’s international and Australian operations may see the overseas company listed on the New York Stock Exchange, according to The Australian.Yesterday, chairman Frank...
View ArticleCPA lifts distribution guidance
By a staff reporterCommonwealth Property Office Fund (CPA) has upgraded its distribution guidance for fiscal 2014, driven by further leasing success.In a statement to the Australian Securities...
View ArticleWestfield to buy remaining WTC stake
By a staff reporterWestfield Group has agreed to buy the remaining 50 per cent interest in the World Trade Center retail premises in New York for $US800 million ($878 million).In a statement to the...
View ArticleRevealing the missing pieces of Westfield's puzzle
Adapt or Die Knowledge HubRetailStephen BartholomeuszMaybe it was just overwhelmed by the general sharemarket softness today, but the market’s response to Wednesday’s Westfield restructuring appears to...
View ArticleWestfield may revise share numbers
Westfield Group could end up recutting the numbers for its $65.8 billion global shopping centre empire restructure, according to sources, so that shareholders in the company's smaller listed satellite...
View ArticleChinese buyers tower over Australian real estate
EconomyChinaRobert GottliebsenWhere China spends its vast $US3.7 trillion foreign reserves is going to dominate asset prices and developments around the world.Right now apartments in Sydney and...
View ArticleCBA to push on with CFS sale
The Commonwealth Bank of Australia is forging ahead with plans to spin-off the $6 billion CFS Retail Property Trust, with the new vehicle likely to be called Centre Retail Management.The move caps a...
View ArticleHousing finance lifts in October
By a staff reporterThe demand for home loans rose in line with expectations in October, according to the Australian Bureau of Statistics.The data showed the number of home loans granted in October rose...
View ArticleHotel Property Investments falls on ASX debut
Pub real-estate trust Hotel Property Investments has failed to find early support on its ASX debut, shedding more than 1.5 per cent in its opening minutes of trade.HPI, formerly Redcape Property...
View ArticleFirst home buyers locked out: NSW oppn
AAPYoung people in NSW will struggle to buy property with state government cuts to the first home buyers grants effectively locking them out of the market, the state opposition says.Monthly loan...
View ArticleThe price of land is hurting Australia
IndustriesPropertyAlan KohlerThe high price of land in Australia is one of the reasons businesses like Holden and Qantas are uncompetitive and the combination of several recent developments is making...
View ArticleFairfax buys property data provider
By a staff reporterFairfax Media Ltd has bought property data and mapping provider, Property Data Solutions Pty Ltd, for cash consideration of approximately $30 million.In a statement to the Australian...
View ArticleDexus lifts CPA bid again
By a staff reporterDexus Property Group has again increased its takeover offer for the Commonwealth Property Office Fund (CPA).In a statement to the Australian Securities Exchange, Dexus said its joint...
View ArticleStockland makes Glasshouse deal
Stockland has surprised the market by swooping on the Glasshouse Shopping Centre in the Sydney CBD and nominating Investa Property Group's wholesale office fund to buy a stake in the adjacent office...
View ArticleGandel mulls value of CFS rights
Retail tycoon John Gandel is being asked to consider a proposal that values CFS Retail's management rights at $550 million, sources say.It is understood the billionaire shareholder is taking his time...
View ArticleVodafone chases lower rents
Vodafone Hutchison Australia is pushing retail landlords to reduce rents as it fights to turnaround recent losses, according to Fairfax Media.The telco has reportedly been vacating stores when...
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