Over $1 billion worth of real estate changed hands over the Christmas holiday period... Chinese developers not phased by Melbourne's apartment oversupply...
2016 to be strong year for commercial property
Over $1 billion worth of real estate changed hands over the Christmas holiday period, with Colliers International data showing total deals for 2015 hit $35 billion with investment evenly split between offshore and local groups, the Australian Financial Review reports.
Sydney was the location with the most investment, particularly in office property and residential development sites.
"Demand for Sydney assets will continue on the back of significant infrastructure investment in New South Wales, with metropolitan markets being a major focus for investors in 2016," said Colliers International managing director of capital markets and investment services John Marasco.
"In Melbourne, demand is still very much being driven by strong activity in the education sector."
In depth: 5 ways to stronger, better referral partnerships
Chinese developers not phased by Melbourne's apartment oversupply
Chinese developers have spent $56m on three Melbourne apartment sites, with the capacity for more than 800 apartments, in the Christmas holidays, according to an article in the Australian Financial Review.
The largest deal involved a Chinese developer from Shandong Province who paid over $28 million for a 6000 square metre consolidated block of land in Oakleigh, 15 kilometres south east of the Melbourne city centre, close to Chadstone Shopping Centre.
"Nobody has their heads in the sand," said CBRE state director Mark Wizel who negotiated the three deals alongside colleagues Lewis Tong, Julian White and Josh Rutman.
"We are all aware of the facts surrounding the supply of apartments in Melbourne and there is no denying that supply is at high levels when compared with averages of the past decade.
"But the world in 2016 is very different to that in 2006, with greater numbers of first-home buyers, migrants and empty nesters opting to live in apartments," Mr Wizel said.
In the second deal, Guangdong Carrington Real Estate Group paid just over $15 million for 41-49 Bank Street in South Melbourne and in the third deal, Chinese developer Spacious Group paid $13.7 million for the former head office of Melbourne developer MAB Corp at 54-60 St Kilda Road.
In depth: Let's talk business
Over $1 billion worth of real estate changed hands over the Christmas holiday period, with Colliers International data showing total deals for 2015 hit $35 billion with investment evenly split between offshore and local groups, the Australian Financial Review reports.
Sydney was the location with the most investment, particularly in office property and residential development sites.
"Demand for Sydney assets will continue on the back of significant infrastructure investment in New South Wales, with metropolitan markets being a major focus for investors in 2016," said Colliers International managing director of capital markets and investment services John Marasco.
"In Melbourne, demand is still very much being driven by strong activity in the education sector."
In depth: 5 ways to stronger, better referral partnerships
Chinese developers not phased by Melbourne's apartment oversupply
Chinese developers have spent $56m on three Melbourne apartment sites, with the capacity for more than 800 apartments, in the Christmas holidays, according to an article in the Australian Financial Review.
The largest deal involved a Chinese developer from Shandong Province who paid over $28 million for a 6000 square metre consolidated block of land in Oakleigh, 15 kilometres south east of the Melbourne city centre, close to Chadstone Shopping Centre.
"Nobody has their heads in the sand," said CBRE state director Mark Wizel who negotiated the three deals alongside colleagues Lewis Tong, Julian White and Josh Rutman.
"We are all aware of the facts surrounding the supply of apartments in Melbourne and there is no denying that supply is at high levels when compared with averages of the past decade.
"But the world in 2016 is very different to that in 2006, with greater numbers of first-home buyers, migrants and empty nesters opting to live in apartments," Mr Wizel said.
In the second deal, Guangdong Carrington Real Estate Group paid just over $15 million for 41-49 Bank Street in South Melbourne and in the third deal, Chinese developer Spacious Group paid $13.7 million for the former head office of Melbourne developer MAB Corp at 54-60 St Kilda Road.
In depth: Let's talk business
