CBRE’s weekly news wrap, featuring the latest commercial and residential real estate stories from around Australia. Whether your interest lies in industrial, retail, office, agricultural or residential property, we’ve got the news that matters, covered.
1)Aged care facilities switching to solar AFR
Aged care is the latest Australian commercial property sector to embrace solar power. In line with the trend of switching to solar to reduce energy costs, the installation of over 14,000 solar panels and 36,000 energy-efficient LED lights across 91 aged care facilities is due to be completed next month.
2)Green light for Darling Harbour skyscraper Real Commercial
The development dubbed as ‘Cockle Bay Park’ has been given the green light following a redesign to reduce its height and wind impact. The $649 million project is being steered by partners AMP Capital, Brookfield and GPT.
3)Demolition date for Perth’s Subiaco Oval paves way for new Subi East precinct The West Australian
Works valued at $33 million are set to begin in July to demolish Perth’s Subiaco Oval, marking the start of the 35ha site’s redevelopment into the new high-density Subi East precinct.
4)Singaporean hospitality group to launch new hotel brand in Melbourne Commercial Real Estate
Singapore’s Next Story Group has purchased a newly built 162-room hotel in Melbourne’s Southbank, with plans to launch the first upper-mid scale LinQ Hotel at the site in September.
5)Plans lodged for Brisbane CBD’s first new tower in two decades The Urban Developer
A planning application has been submitted to develop the long-vacant 466 Ann Street lot in Brisbane’s CBD. Plans for the 24-storey luxury tower include 19 single-floor residences above five storeys of retail and parking.