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Daily property news: Australia housing risks have abated; China warehouse holds potential

Puma to lease $25m Melbourne warehouse from Frasers

Frasers Property Australia has secured global sports brand Puma as a tenant in a new A$25m speculatively built warehouse in Melbourne’s south-east, highlighting the strong demand for logistics space from retailers. “Our strategy to build several speculative facilities in Braeside Industrial Estate has also been very successful in attracting ASX-listed and multinational companies seeking sustainable industrial warehouses,” said Frasers Property Australia general manager for commercial and industrial, Anthony Maugeri.

ST Telemedia Global Data Centres prices S$225m bonds due 2024 at 3.59%

ST Telemedia Global Data Centres (STT GDC), a Singapore-headquartered data centre provider, has priced its five-year S$225m senior unsecured bonds due 2024 at 3.59%. The bonds are being sold under STT GDC’s S$1.5b multicurrency debt issuance programme. Currently, STT GDC is also in a joint partnership with Frasers Property (Thailand) Public Company (FPT) to build a data centre in Bangkok. The data centre, worth over 7b baht (S$302m) in investments, is poised to be Thailand’s largest with a gross floor area of 60,000 sqm.

Urban Treasures: A gem in the east - Singapore Property News

Chinese demand drives S’pore luxe apartments to hit 11-year high

Sales of Singapore flats worth at least S$10m (US$7.3m) have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets, property consultants OrangeTee & Tie said. In the first 8 months of 2019, 68 condominium units in the city state were sold for S$10m and more, the highest tally since the corresponding period of 2008. Sales of such flats also exceeded the numbers racked up for each full year from 2011 to 2018, the consultants’ analysis of transaction data shows.

Luxury condo Cuscaden Reserve will provide quiet living amidst the bustle of the city

Luxury condominium Cuscaden Reserve, located in the Orchard area, started private viewings, which are by invitation only, last weekend. The joint bid of S$410m by 3 well-known luxury property developers for the coveted residential site in Cuscaden Road made headlines last year for smashing all records for a residential government land sale. Singapore’s SC Global Developments, along with Hong Kong-listed developers and hotel operators New World Development and Far East Consortium, trumped eight other bidders to win the 99-year leasehold site.

Projects with foreign buyer appeal

Chinese nationals continue to hog the limelight in Penrose by CDL with purchases of luxury penthouses at eye-popping prices. Beyond the prime districts, these foreign buyers are making their presence felt at new launches in the city fringe and suburban condominiums too. Foreigners have traditionally preferred to invest in the prime districts, but certain high-end projects are in greater demand.

Urban Treasures: A gem in the east - Singapore Property News

Housing risks have ‘abated’: Regulators

The potential for risks to Australia’s financial stability from falling housing prices in Sydney and Melbourne has abated somewhat, with home values rising in recent months, the Council of Financial Regulators said on Mon in a quarterly statement. The council is a non-statutory coordinating body for Australia’s main financial regulatory agencies. Australia’s housing market has bounced back in the past couple of months after 2 years of downturn, with mortgage approvals and auction activities all showing an upturn. 

Developers rev up Logan project after state infrastructure deal

SX-listed developer Peet is set to release 1700 more housing lots in the Flagstone satellite city development in Logan as development accelerates in the area following a new A$1.2b Queensland government and Logan City Council infrastructure commitment. Logan, about 35km south of the Brisbane CBD, has long been one of the strongest south-east Queensland growth corridors.

Readmore: Former Chancery Court by Far East at Dunearn Road near Newton MRT and ACS

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