CBRE’s weekly news wrap, featuring the latest commercial and residential real estate stories from around Australia. Whether your interest lies in industrial, retail, office, agricultural or residential property, we’ve got the news that matters, covered.
1. Luxury tenants and Christmas pop-ups for St Collins Lane AFR
British watchmaker Bremont and Paris fashion house Claudie Pierlot are the new luxury tenants at JP Morgan’s flagship $250 million St Collins Lane arcade in the Melbourne CBD.
2. Western Sydney joins global initiative The Urban Developer The City Possible initiative, kickstarted by Mastercard, is a new global network connecting academia and businesses, aimed towards identifying and combatting common challenges that face urban environments.
The initiative has taken shape with 16 founding cities coming together to develop innovative approaches to emerging problems within cities.
3. Plans lodged for tallest North Sydney office and hotel AFR
Developer Billbergia has lodged plans to build North Sydney's tallest commercial tower, a 48-storey mixed use hotel and commercial development at 88 Walker Street.
4. Flinders Lane rag trade era offices on the market WA Today Several offices are up for grabs on Flinders Lane, with rag trade-era architecture flooding the market.
If the $40 million Invicta House at No.226 is out of your price range, two strata office floors and a shop at next door’s Manchester House may be within reach.
5. Beautiful Sydney Fish Market redevelopment missing solar The Fifth Estate A Danish architect handed Sydney a beautiful new design for the Fish Market, complete with a dramatic roof to suggest movement of water and fish scales.
While the roof is beautifully designed to capture the breeze and direct it through the massive building, it’s a missed opportunity to maximise solar and minimise energy consumption.
6. Byron Bay retreat wins big at World Luxury Hotel Awards The Hotel Conversation The Gaia Retreat & Spa in Byron Bay received 2018 Global Hotel of the Year, the top award, at the World Luxury Hotel Awards, hosted in Bali over the weekend.
7. Australia's housing market is unlikely to fold under its own weight Business Insider Regulatory measures to curb growth in investor lending have “meaningfully reduced” risks in Australia’s housing market, RBA deputy governor Guy Debelle says.
8. Three Quarters of properties sell for less than listed price: Corelogic The Urban Developer Apprehensive buyers, cautious lenders and retreating investors have resulted in 75.4% of properties listed transacting lower than their original listed purchase price.
9. Australia’s vacancy rate drops to 2% The Urban Developer Marking its lowest level since early 2014, the national residential vacancy rate fell to a mere 2% in October, driven down by falling vacancies in many of Australia’s smaller cities.
10. Prefab industry strong despite Strongbuild downfall The Fifth Estate The prefab industry is strong despite Strongbuild falling into voluntary administration, but the industry has big challenges, according to industry experts.