Australia Property

Singaporean family puts Crowne Plaza Surfers Paradise resort on sale

Crowne Plaza Surfers Paradise in Australia has been put on the market by its owners - a Singaporean family - for more than A$100 million, said marketing agent CBRE Hotels. Standing on a 1.2-hectare site, the resort complex comprises the 269-room Crowne Plaza Hotel currently operated by IHG, management rights for the 104-room Gold Tower, retail space, a tavern, 15 function venues and multiple food and...

LendLease sells all 391 Sydney apartments in 4 hours

All 391 apartments offered by LendLease Group at a project in Sydney were snapped up in just four hours on Saturday, indicating demand for inner-city homes remains buoyant despite looming oversupply. More than 400 potential buyers turned up from 8 am in Darling Square, a development on the western edge of Sydney's central business district, for the apartments that were priced from A$630,000 (S$624,000)...

Frasers Centrepoint unit’s Park Gallery in Australia sold out

PARK Gallery, a townhouse development located at Cova on Australia's Hope Island, is sold out, Frasers Property announced on Wednesday. Since launching in November, Frasers Property Australia, the Australian division of Frasers Centrepoint Limited, has achieved more than A$28 million (S$28.9 million) from the sales of 60 townhouses at Park Gallery. The 60 "architecturally designed" Park Gallery...

A-REIT to acquire A$1b logistics portfolio in Australia

Industrial landlord Ascendas Real Estate Investment Trust (A-REIT) is set to acquire 26 logistics properties in Australia for A$1.013 billion (S$1.013 billion) in a move to diversify geographically, its manager Ascendas Funds Management announced on Friday (Sep 18). This will be subject to post-completion adjustments, with the money payable to the real estate arm of GIC and Frasers Property Australia...

Australia’s proposed property fees unlikely to impact Singaporean buyers significantly: analysts

Australia is planning to introduce fees for foreigners who buy residential properties there. But some property watchers say the impact on Singaporean buyers is unlikely to be significant. Buying properties Down Under may soon cost you more if proposals to charge extra fees on foreign buyers are approved. Among the suggestions are: For properties below A$1 million, foreign buyers will be charged...

Chinese property investment faces Australia scrutiny

Foreign investment in Australia's housing market will be examined by a national parliamentary committee, its chair said Monday, following a study that said Chinese investors are squeezing out local buyers. Kelly O'Dwyer said the House Standing Committee on Economics inquiry into affordable housing would probe the foreign investment framework to see whether it helps increase housing stock, and whether it...

Aspial buys Melbourne property for S$48m

SGX-listed Aspial Corp has acquired a property in Melbourne, Australia, which it plans to redevelop into the city’s tallest building. The A$42.3 million (S$48 million) deal is for a freehold low-rise commercial building in downtown Melbourne which has a total land area of about 2,625 square metres. In a statement on Wednesday, Aspial said the property has two active planning permits, of which one...

Sydney harbour home fetches record US$54m

A Sydney harbour-front mansion has been sold to a Chinese-born businessman for A$53 million (US$54.3 million), setting a new property record for the city, reports said Thursday. The eight-bedroom, seven-bathroom house "Altona" in prestigious Point Piper had been on the market for several years, having been bought in 2002 for A$28 million by a former publishing executive. The Australian Financial...

Frasers launches serviced residences in Melbourne

Frasers Hospitality has strengthened its presence Down Under with the opening of Fraser Place Melbourne, bolstering the firm's portfolio of premium-serviced residences in Australia's key gateway cities. Located in Melbourne's entertainment quarter and within a short walk from the city's financial district, Fraser Place Melbourne features 112 studio residences with integrated living, dining and kitchen...

Far East Orchard, Toga Pty to set up hospitality business in Australia

Property developer Far East Orchard (FEOrchard) signed a memorandum of understanding with Australia-based hotel operator Toga Pty (Toga Group) on Wednesday which will explore the setting up of a proposed joint venture. Under the agreement, the proposed joint venture will serve as a hotel management and ownership platform in Australia. Plans are also in the pipeline for the proposed joint venture to...

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