Office property valuations have collapsed by more than 10 per cent and alarm bells are ringing that they could fall even further.
The property giant has moved to simplify its business with the sale of life sciences interests in Asia,with chairman Michael Ullmer reportedly on his way out.
Plans for a third and final tower in Mirvac’s “Sky Precinct” at Newstead have been submitted for council approval.
Build-to-rent developers and industry policymakers are applying the blow torch on all layers of government to get legislative reform for the burgeoning sector.
Melbourne Central mall has roared back to life as shoppers flock to its Monopoly Dreams store,students meet to hang out and commuters come for lunch.
Large businesses would need a report with audit-ready data to show what their emissions are,which will be transformational for commercial property.
Leading property executives are confident they have the right strategies in place to tackle what they collectively forecast will be another challenging year for office,retail and industrial properties.
Property giant Mirvac will buy 27 land lease communities – where the home is owned but the land is rented – moving into the growing affordable housing market.
Fund manager ISPT is offering up a portfolio of retail and office properties worth about $600 million across Sydney and Melbourne.
It has been a lean year for Melbourne CBD office transactions,with potential buyers pitching lowball prices to vendors.