Business News

Growthpoint Properties Australia is set to take control of the GPT Metro Office Fund after its takeover bid won a positive recommendation from the fund’s independent board committee, and rival bidder Centuria Capital walked away. This article originally appeared on theaustralian.com.au/property.

Starwood Hotels & Resorts has signed a management agreement with the billionaire Fried family’s Spotlight Holdings Group to develop a 176-room Aloft hotel in Melbourne. This article originally appeared on theaustralian.com.au/property.

A career in property was “accidental” for many senior women in the sector including Mirvac managing director Susan Lloyd- Hurwitz and AMP global head of property Carmel Hourigan. This article originally appeared on theaustralian.com.au/property.

Doomsday predictions for Melbourne’s apartment development market are “overstated”, with oversupply not nearly as bad as reports suggest, one agent says.

The historic David Jones Market St store in Sydney could be transformed into a precinct for emerging designers, growing local labels and niche international brands. This article originally appeared on theaustralian.com.au/property.

Red tape that restricts overseas investors from buying Australian farms should be removed to promote more foreign investment, a report has found.

Victoria was once dubbed “the place to be”, and the slogan is ringing true for commercial property, with sales in the last financial year almost doubling the 10-year average.

Property funds manager and ­value-add property specialist Propertylink is close to inking a deal to buy the near $200 million Denison portfolio as it bulks up ahead of its initial public offering. This article originally appeared on theaustralian.com.au/property.

International retail landlord Westfield Corporation has had its profit expectations downgraded by Macquarie because of the volatile British and US retail markets and fluctuating currencies. This article originally appeared on theaustralian.com.au/property.