Government Commercial Property News

Major developers including property heavyweight Lendlease and GDI, the listed Elanor Investors Group, interests associated with tycoon Kerry Stokes and the proponents of a World Trade Centre are believed to be vying to develop Western Australia’s new police headquarters, with bids closed this week.

Sydney’s Circular Quay is a step closer to a major overhaul with the Berejiklian government quietly shortlisting rival consortiums — one led by Lendlease and the other by Plenary Group — for a $2 billion overhaul of the ferry wharves precinct.

Thousands of flood-ravaged North Queenslanders will get a helping hand through a $5 million land rent reprieve.

The race to house more than 4000 state public servants in Sydney’s west is coming to a head with three projects in Parramatta heading a field that has pitted tycoon Lang Walker against two listed developers.

A city deal could pave the way for government-owned land to be opened for development, as all levels of government work to deliver a “better” future for southeast Queensland.

Singaporean company ARA Asset Management is again looking to bolster its Australian empire and is targeting the purchase of Adelaide’s Allianz Centre for about $150 million as more institutions look to place funds in the South Australian capital.

A new high speed telecommunications submarine cable has been labelled a game changer for one Queensland region and has one residential developer investing millions.

Hotels, apartment and office towers surrounded by open public spaces should be built over unsightly rail lines in the heart of Melbourne, according to the designer of Eureka Tower.

In the current piping hot commercial property market, yields of below 5% are often standard fare for investors as prices continue to climb.