Posts Tagged ‘property group’

Today’s Corporate property blog reports that Lend Lease Property Group has lost its role in a $370 million town centre redevelopment property project in Melbourne’s northeast.

Banyule City Council terminated its relationship with the property developer after citing delays connected to rebuilding Greensborough pool, the cornerstone of a proposed town-centre redevelopment.

The council, which needs to begin work on the $45 million pool property project by next month to qualify for $5m of stimulus funding, has decided to go it alone, ending a five-year development partnership with Lend Lease.

The pool was to be the first stage of a redevelopment project to expand the Lend Lease-controlled Greensborough Plaza shopping centre property.

The planned property expansion involved a discount department store, supermarket and more parking for the existing 57,804sq m complex, which has more than 170 speciality stores.

New council offices were part of the plan, which is now in doubt.

Lend Lease chief executive David Hutton said yesterday that the parting had been harmonious. Mr Hutton said project delays had been caused by the economic climate, with falling commercial property values making it difficult for the redevelopment to proceed.

He said Lend Lease would, nevertheless, like to be invited back as a development partner.

The pool component will go to tender next month. Read the rest of this entry »

Property blog - GoldCoast Property Development

Today our blog found a new “property development map” provided by property group Colliers which plots current and  planned property projects in the Gold Coast.

Despite several high-profile casualties in the wake of the global financial crisis, nearly $69 billion worth of major property development projects are under way or planned for the city, new research released by Colliers on Thursday shows.

That’s an increase of $2.3 billion on the total value of development identified in 2007.

Colliers International director in charge Stewart Gilchrist said the findings clearly demonstrate the region has emerged as a mature and resilient residential and business centre, despite one of the toughest financial periods in recent history.

“We’re not here just as a tourism city, we’re here as a city that runs on its own merits, and we’re here for the long term,” he said.

“Of the 379 property projects included in the report, 21 have an end value of more than $1 billion, which is a huge vote of confidence from some of the largest and most respected development companies both here and overseas in the continued growth of the Gold Coast.

“More than $30 billion of property projects are already under construction, leaving a $38.63 billion pipeline of planned developments to roll out in line with improved economic conditions and to meet the city’s considerable population and commercial growth.”

The map includes major developments with an end value of more than $10 million from the Gold Coast’s northern-most suburb of Stapylton, south to Pottsville in far northern NSW.

Read the rest of this entry »

Today’s Corporate property blog reports that an over-leveraged Centro Retail Trust (CER) yesterday flagged a $3.75 billion capital transaction — possibly through a float of property assets — that would be part of a major restructure of the debt-laden property group Centro.

CER’s Melbourne annual general meeting was told news that falling valuations, particularly for Australian property, had put loan-to-value covenants under pressure, forcing the trust, which lost $2.7bn in the past year, to consider all its possibilities.

Centro chief executive Glenn Rufrano said although the listed retail property trust had not breached loan covenants, its current 77 per cent LVR (loan-to-value ratio) needed to be reduced to 25-35 per cent to bring it into line with other Australian property groups.

The Centro boss then dropped the news and bombshell by telling unitholders that CER, the listed spin-off of the Centro Properties Group, did not expect to reduce its debt to peer property group levels without “a capital transaction”. Read the rest of this entry »

Property developer Sunland Group will roll out one of the biggest residential releases in Australia in more than 18 months, yesterday announcing nine new property projects in Queensland worth a combined $511 million.

The nine projects will be on the Gold Coast and Sunshine Coast and are expected to comprise nearly 950 properties.

In making the announcement, the James Packer-backed property group also heralded a return to the high-rise apartment sector, revealing separate plans were under way for a proposed new residential property tower in Labrador on the Gold Coast.

“This represents the most active program of project releases in Sunland’s history,” Sunland Group managing director Sahba Abedian said. He said the group was back on the hunt for opportunities in its core business — land, residential and high-rise property developments.

After a tough 18 months for the property sector, he said: “There’s no doubt in my mind that the residential market has bottomed out and there has been a renewed level of confidence across the board, particularly in southeast Queensland and in Victoria.”

Four of the nine residential property projects — to be launched from 2010 — will be located on the Gold Coast, with the rest dotted around Sanctuary Cove, Royal Pines and the Sunshine Coast.

Sunland’s total housing inventory today stands at 3950 products in 28 projects in three states, with an end value of $1.3 billion.

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Australia’s leading Property Stocks. The worst may be considered over after share-price slumps for real estate investment trusts, but how do the big property companies websites perform?

BRW recently published their Top 10 Property Stocks from the S&P/ASX 300 A-REIT index. Here, we put them to the online performance test. NLYZR.

NLYZR assess a website using criteria such as On-page SEO, Off-page SEO, Keyword search results, Competitor scores, Social media and traffic conversion. These are crucial aspects of Inbound Marketing.

NLYZR Top 10 Property Group Websites:

Ranked 1st
84/100 for Dexus

Ranked 2nd
76.56/100 for Westfield Group

Ranked 3rd
75.2/100 for Lend Lease

Ranked 4th
69.6/100 for Mirvac

Ranked 5th
68.6/100 for Macquarie Office Trust

Ranked 6th
64/100 for Challenger Diversified Property Group

Ranked 7th
63/100 for Abacus Property

Ranked 8th
59.2/100 for CFS Retail Property Trust

Ranked 9th
40/100 for Macquarie Leisure Trust

Ranked 10th
31.2/100 for Goodman Group

Read the rest of this entry »