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OFFICE OCCUPANCY

Workers’ slow return to offices hits tenancy rates

Lower-grade buildings are under pressure as companies, keen to encourage staff back, opt for more modern locations.

ESR closes out $600m fund

Hong Kong-listed Asian warehousing giant ESR has again expanded its local logistics empire with a series of purchases across the country.

Aware Super’s $7bn property portfolio goal

The superannuation group is looking to quadruple its property portfolio, raising its $1.7bn worth of managed funds to $7bn.

Renters unlikely to avoid the impact of rate rise

Rising mortgage rates are unlikely to only affect homeowners, with investors likely to pass on the additional costs to renters.

By MACKENZIE SCOTT

Mirvac, Blackstone spruik Sydney landmark site

Listed company Mirvac and US private equity house Blackstone are beginning the sale of Margaret St and MetCentre in Sydney’s CBD.

COMMERCIAL PROPERTY

Lendlease on hunt for partner in Sydney tower

Lendlease is backing its conviction in the $1.4bn tower and retail complex it is building above the Victoria Cross Station development in North Sydney.

Mercatus looks for Bligh St exit

Singaporean group Mercatus Co-operative is selling a slice of the landmark 1 Bligh St complex in the heart of the Sydney CBD, leaving co-owner Dexus looking for a new partner.

PROPERTY DOWNTURN

Falling demand a test for new-home developers

August housing figures show home sales in all capital city markets fell and that’s also a challenge for residential property developers.

By MACKENZIE SCOTT

Co-working firm posts $50m loss as wind up looms

Victory Offices, which listed successfully under former chair Steve Bracks in 2019, is facing a winding up application with shareholders almost totally wiped out.

By CAMERON ENGLAND

Smaller is better in the long run

Apartments are a good bet in the current climate where the dynamics of supply and demand determine your long-term property returns.

By ANDREW SCHWARTZ