Industry Focus

PROPERTY Rise of chinese investment Stockland launches Willowdale Stockland's largest residential development in NSW, Willowdale, was launched in September. The site at Denham Court is part of Sydney's south-west growth corridor and will feature more than 3000 homes on completion. Plans for local shops, 25 hectares of parks and playgrounds and a proposed school are expected to attract young families, first-home buyers and investors. Managing Director and CEO of Stockland Mark Steinert said Willowdale would help develop Sydney's fast-growing southwest precinct. "The NSW Government's initiative to declare growth areas and rezone precincts for urban development has allowed us to plan with confidence and invest with certainty to provide affordable new housing for the Sydney market," he said. The first two stages of land released at Willowdale have already sold out. Lots range in size from 350sqm to 600sqm with prices starting from $234,000. Source: Stockland 4 Industry Focus The old adage 'East meets West' is becoming increasingly true in Australia with Chinese foreign investment growing at a rapid rate from 2007. Proposed Chinese foreign investments in the real estate sector have grown by almost 75 per cent in the last three years, according to Colliers International's 'Australian Capital Markets Report 2013'. China now accounts for 3 per cent of foreign investment in Australia, a number that may not seem much, but which has tripled in the past five years. In Sydney, 231 Elizabeth Street recently went to a Chinese buyer for $201 million while another Chinese buyer purchased 10 Barrack Street for $62.5 million. In Melbourne, three separate Chinese groups have filed applications for residential projects in the Fisherman's Bend Precinct and the Victoria Markets area that will add about 1350 new apartments to the city. Colliers International reports Chinese foreign investments in Australian commercial property have added up to more than $800 million since 2008. Source: Colliers International Office sales boom The year to September 2013 posted record office sales transactions with $10.7 billion worth recorded nationally. Savills reports this figure as a 58 per cent jump in sales from the previous year when $6.8 billion was sold. The record figure was helped by the sale of several landmark properties, which accounted for 30 per cent of commercial transactions. Notable sales include Raine Square and Kings Square in the Perth CBD for $458 million and $434.8 million respectively, as well as the sale of 567 Collins Street in Melbourne for $450 million. In Sydney, the sale of North Sydney's Northpoint Tower for $300 million and a 50 per cent stake sale in 200 George Street for $317 million helped push up the overall annual sales figure. Source: Savills

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