Canadian fund CPPIB eyes foothold in Australia
DataRoomMergers & AcquisitionsFlorence Chong - The AustralianOne of the world’s richest pension funds, the Canada Pension Plan Investment Board, may open an Australian office as its holdings here —...
View ArticleMacquarie sells $67m Charter Hall stake to Gandel
DataRoomEquity Capital MarketsBridget Carter - The AustralianMacquarie Group has sold a stake in property fund manager and investor Charter Hall to the company of retail billionaire John Gandel.The...
View ArticleChinese ‘drive hardest house bargain’
Anecdotal tales of wealthy Chinese buyers driving up housing costs by paying above-market prices have been undermined by a study that finds they often drive the hardest bargains.The randomised survey...
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Investec property fund buys Canberra building
Business SpectatorDataRoomBrett ColeInvestec Australia Property Fund has bought the Manning Clarke building in Canberra for $25.8 million, representing a yield of 7.84 per cent a year.In a statement...
View ArticleUS housing starts rise 13.2% in April
American builders ramped up home construction for the third-straight month in April, a sign the industry sees growth ahead after a weak winter.US housing starts rose 13.2 per cent in April to a...
View ArticleBoE warns of 'deep' housing problems
The British housing market has "deep, deep problems" and is the biggest risk to the country's financial stability, the governor of the Bank of England says."When we look at domestic risk, the biggest...
View ArticleWestfield bank fees slammed
The Australian Shareholders’ Association has stepped up its attack on Westfield’s proposed $70 billion restructure, taking aim at the fees and influence derived from the large number of investment...
View ArticleUGL sells portfolio to GDI Property
Engineering firm UGL will sell a seven-asset property portfolio to newly floated fund manager GDI Property for $66.5 million.GDI said it had reached a deal to acquire six industrial properties and one...
View ArticleDJs owner looks at property angle
South African retailer Woolworths is likely to sell the development rights to David Jones’s flagship Market Street building in Sydney, with a larger amalgamation play with neighbouring sites to bring...
View ArticleUGL may pull $1.3bn DTZ sale
UGL’s share price collapsed after a sales process for the global services firm’s $1 billion-plus real estate business DTZ failed to drum up strong bidding tension.Private equity firm TPG Capital was...
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Shining a light on your property’s worth
IndustriesPropertyCallam PickeringAustralia’s housing market is estimated to be worth around $5.1 trillion and housing accounts for a majority of household net worth. Yet despite regular and timely...
View ArticleASIC to review chaotic Westfield meeting
The Australian Securities and Investments Commission chairman Greg Medcraft has confirmed that the corporate watchdog is reviewing yesterday’s chaotic Westfield shareholder meeting, saying he is...
View ArticleFirst China house price dip in two years
Home prices in major Chinese cities posted their first monthly decline in nearly two years in May, an independent survey shows, providing new evidence the once red-hot market is losing steam.The...
View ArticleOverhaul WRT board: UniSuper
The biggest shareholder in Westfield Retail Trust, UniSuper, called for an overhaul of the company’s board in an escalation of the dispute over the future of the Lowy family’s Westfield empire.UniSuper...
View ArticleWestfield: Were we too tough on Frank?
IndustriesPropertyRobert GottliebsenWere we too tough on Westfield chairman Frank Lowy when our heading suggested that he had experienced a spectacular fall from grace? Or is the Westfield saga...
View ArticleREA Group appoints Tracey Fellows as CEO
REA Group has appointed former Australia Post executive Tracey Fellows as chief executive, following former boss Greg Ellis' departure last year.Tracey Fellows will join the company, which owns...
View ArticleHouse prices fall most in five years: RP Data
Australian dwelling values have recorded their first month-on-month fall since May 2013, dropping 1.9 per cent in May, according to RP Data-Rismark figures.CommSec chief economist Craig James said the...
View ArticleBuilding approvals fall in April
Building approvals fell in April, against expectations of a rise, official data shows.The Australian Bureau of Statistics data showed the number of buildings approved fell a seasonally adjusted 5.6 per...
View ArticleASIC needs to halt Westfield farce
Trading in Westfield Retail Trust (WRT) today is creating a record of sorts, given the new buyers have no power to vote the stock at the coming meeting to determine its fate resulting in a market...
View ArticleSuspense, tension and ASIC's Westfield question
IndustriesPropertyStephen BartholomeuszThursday’s dramatic and confusion-wracked developments at the meeting of Westfield Retail Trust security holders puts pressure on the Australian Securities and...
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