Latest Commercial Real Estate News

Racing greats are among horse-lovers who have given the Victorian Equestrian Centre for sale in Beaconsfield Upper the seal of approval.

A Melbourne shopping centre more than 12 months from completion was Realcommercial’s unlikely runaway top property last week, while industrial assets continue to gather steam as online shopping takes hold.

Shopping centre owners and tenants have been urged to quickly come to a fresh agreement that includes sharing the pain of losses suffered during the coronavirus crisis after federal cabinet rejected an initial scheme developed by retailers and landlords in a surprise move on Friday.

Prime Minister Scott Morrison and Treasurer Josh Frydenberg were getting the same message as me: an all out, no holds barred “dog-eat-dog” war had broken out between commercial tenants and landlords.

The son of artist Ken Done, Oscar Done, has snapped up a block of flats in Randwick for $11.5 million, $500,000 over reserve.

Plans for a three-storey aged care development on a prominent Highton site look set to go ahead after it sold for $3.6 million.

While CBD hotels in Sydney, Brisbane and Melbourne are shutting, Quest Apartment ­Hotels reports the franchisee-owned company is picking up lots of rural business during the coronavirus pandemic, particularly in Western Australia and the ­regional NSW towns of Goulburn, Orange and Tamworth.

Commercial tenancy disputes about rent relief could soon be guided by a “mandatory code” announced by the National Cabinet.

For those keen for a tree-change opportunity that allows an escape from city life for a more relaxed country lifestyle, the sale of the Ross Motel might fit like a glove.