New South Wales

It’s hosted the likes of Princess Dianna, INXS rockstar Michael Hutchence and former US president Bill Clinton, but now the iconic hotel is set to make way for a new level of luxury, featuring some of the country’s finest apartments, a boutique hotel and shopping.

A plan to turn one of Australia’s most famous hotels into a ‘$1bn lifestyle destination’ includes plans to immortalise late icons Michael Hutchence and Princess Diana.

Bob Ell had ridden the dramatic rise in land values on the city’s outskirts.

The national boom in build-to-rent projects is finally gathering steam in Sydney with a huge precinct proposed for the inner west suburb of Marrickville.

A buyer has snatched a decommissioned electricity substation for twice the expected price at a heated auction – because of one attribute.

Coronation has earmarked plans for two new major mixed-use precincts comprising 750 build-to-rent apartments and a combined end value of $1.45bn.

Property funds group Centuria Capital has bought the Manning Mall from an unlisted Elanor Investors Group-run fund at a steep discount compared with the last time it changed hands.

The developer grandson of late tycoon Alan Bond shows he has an eye for a commercial property bargain by adding a Newcastle shopping centre to his fund house’s portfolio.

The run of big-ticket office sales shows that the best buildings are trading, and bargains may be drying up in the country’s largest market.