The sale of the Sheraton Grand Mirage Resort on the Gold Coast will soon be finalised.
The inferno that destroyed a former hat factory in Surry Hills has put a spotlight on the abandoned and derelict buildings that dot Sydney’s CBD and surrounds.
Deicorp says the mixed-use development will have 213 apartments,a three-storey basement and 3782 square metres of retail and commercial space.
Alarm bells are ringing in the vulnerable global financial system as things start to break. The multitrillion-dollar question is whether there is more to come.
The Federal Reserve Board has warned of a tightening supply of credit that could undermine global growth and send asset prices lower around the world.
Around Australia more and more office buildings have large vacancies,but Australia’s landlords aren’t budging on pricing or their plans to build even more skyscrapers.
Rents for office space in the nation’s CBD’s have been rising,but the increases have been tempered by incentives,such as a free office fit-out to rent-free periods.
High inflation will be a significant factor for investment decisions. The key criterion should be to source assets capable of generating income to ride through the cycle – regardless of sector – and focus on underperforming or underdeveloped buildings in fundamentally sound locations.
Sydney’s city skyline is enjoying a $100 billion-plus building boom,which has sparked a battle for the best upmarket amenities,rooftop bars,including the usual office spaces and luxury hotel rooms.
Areas on the fringe of Sydney’s CBD have become attractive investments because of their development potential,and their ability to cater for the new flexible working practices.
In a further revitalisation of the North Sydney CBD,the topping out of its tallest tower has been finished at 88 Walker Street by private developer Billbergia.