Retail
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foreign investmentAustralian dollar less of a factor in commercial property investment: Jones Lang LaSalle chart
Funds poured into Australian commercial real estate when the Australian dollar was well above parity against the US dollar in 2012.
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profiles and appointmentsFormer City of Melbourne valuer Ray Berryman appointed to Fitzroys board
Ray Berryman spent 10 years with the City of Melbourne, including five of those as city valuer, and overseeing nearly $100 million in rate revenue.
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commercialConsumer confidence, funding and lack of development sites the biggest challenges for commercial property businesses: NAB index
Respondents to the survey also have modest interest rate cut expectations over the next 12 months with just 10 basis points expected to be shaved from commercial lending rates.
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commercialWestfield’s Frank Lowy rises above Ivan Glasenberg as second richest Australian with Meriton’s Harry Triguboff up to sixth richest on 2013 BRW Rich list
Meriton boss Harry Triguboff, who turned 80 this year, has risen up one place from seventh to sixth with a fortune estimated at $4.95 billion up from $4.85 billion a year ago.
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reitsWestfield in negotiations to sell seven US malls to Barry Sternlicht’s Starwood Capital: Reuters
In 2012, Westfield sold seven of its US malls to Starwood Capital, founded by US commercial property market king Barry Sternlicht for around $1 billion.
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commercialPerth and Melbourne office markets have the brightest prospects as commercial property sentiment lifts: NAB Index
Capital offices values in Victoria are forecast to rise by 2.7% over the next 12 months and then by 4.2% over the following 12 months to March 2015.
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leasingBrisbane CBD retail vacancy rate tightens as global brands hit Queen Street Mall: Chart of the week
New tenants heading for Queen Street Mall include including Zara, Topshop, Gap and Hollister.
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residentialLow interest rates to spur strong residential building recovery over next three years: MBA
Masters Builders Australia forecasts the value of residential building work done, in real terms, to grow from $46.2 billion in 2012-13 to $60.9 billion in 2015-16.
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industry newsWestpoint founder Norm Carey to sue ASIC after charges dropped
The charges against Norm Carey and former Westpoint chief financial officer Graeme Rundle were dropped, two weeks into a trial in Perth's district court.
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retailGPT confirms sale of half stake in Erina Fair shopping centre to Asian interests for $397.1 million
GPT did not name the buyer saying only that sold to a client of Lend Lease Investment Management, a Singapore-based division of the property development giant.
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