Commercial Property Development News

The former Geelong Grammar School has hit the market after renovators waved their magic wands and transformed it into a student accommodation facility.

Ratepayers have asked the Clarence City Council to revoke its preferred development deal with the company planning to build a hotel on Rosny Hill.

The family that owns the Robin Hood pub in Sydney’s east want to create a retail laneway behind it similar to Broadway’s Kensington St, with new restaurants and cafes and even bee hives on the roof.

The Hong Kong Monetary Authority and Lendlease’s Australian Prime Property Fund Commercial have teamed up to swoop on the listed developer’s timber office building at Sydney’s Barangaroo South precinct for about $250 million.

The world’s largest hotel chain Marriott International has signed an agreement with developer Greaton Group to open a Westin hotel and resort in South Australia as part of the redevelopment of the Adelaide General Post Office.

Property group Mirvac believes that office rents in Melbourne will have to rise to spark the building of the next wave of office skyscrapers, as the cost of assembling sites soars.

The contest to develop new skyscrapers above railway stations for Sydney’s planned metro network has drawn some the biggest names in local and international property, with local giant Lendlease going up against Canada’s Brookfield, a bid by Spanish-backed giant CIMIC and Grocon and another from Malaysia’s UEM Sunrise.

Brisbane’s Queen Street Mall looks set to get its third hotel, with Vicinity Centres hinting at plans to add to its luxury QueensPlaza complex. 

Hong Kong’s Lei Shing Hong group is spending $200 million developing new Mercedes-Benz showrooms in Queensland and a new “glass box” lifestyle store in the Brisbane CBD.