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Deebing developers reach out to indigenous families on plans
Brian Bennion brian.bennion@qt.com.au
345 words
9 Oct 2015
The Queensland Times
APNQUT
English
DEVELOPERS of the controversial residential project at the former Deebing Creek Mission site will hold a public meeting on the plans later this month.
Frasers Property Australia, formerly Australand, is in the process of buying a 115ha site on Grampian Drive, Deebing Heights, from Deebing Developments.
The site includes the former Mission site and a cemetery, which is listed on the Queensland Heritage Register.
Deebing Developments had put forward plans for a 600-home development on the site with application dating back to 2008 and fresh plans were lodged late last year.
A Frasers spokesman said the sale of the land had gone unconditional and the company was committed to consulting with the community to ensure heritage and indigenous cultural values of the land were respected in any future development.
“We’re not talking about layouts at this point in time. There is an existing application made by the previous owners. We had nothing to do with that, absolutely nothing,” he said.
“At this point the first thing to consider is the heritage on the site and it would be putting the cart before the horse to embark on master planning.
“Frasers Property acknowledges the historical significance of the land and is committed to working with the community and affected stakeholders.”
The site began as a mission in 1887 and operated until 1915 when the mission relocated to Purga. It was gazetted for Aboriginal purposes from 1892 to 1948 and then used for grazing where it was transferred into private ownership.
Indigenous families say there are grave sites throughout the mission lands and have called for the development to be stopped and for the land to remain untouched.
More than 100 protesters marched through central Ipswich last month waving placards “Preserve our sacred land” and “Let our ancestors RIP”.
The community meeting will be held at Ipswich Civic Centre on October 21 at 5.30pm.
APN Newspapers Pty Ltd
Document APNQUT0020151008eba90005l
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Frasers Property Australia to sell Melbourne suburban assets
NaN of
[img=620x0]http://www.afr.com/content/dam/images/g/i/x/j/l/e/image.related.afrArticleLead.620x350.gk7052.png/1444635126888.jpg[/img]Frasers Property Australia chief executive Rod Fehring has flagged an ambition to broaden the group's market reach. Rob Rough
by Nick Lenaghan
Frasers Property Australia is moving to offload a $150 million portfolio of Melbourne suburban office accommodation.
The assets are part of the large, diversified portfolio now controlled by the Singapore-listed Frasers Centrepoint after it privatised local property player Australand last year.
The two office assets are in Melbourne's south-east. The larger of the pair comprises around 21,000 square metres across three buildings in Mulgrave.
The Springvale Road property, worth as much as $100 million, includes blue-chip tenants Coles, its Wesfarmers-owned stablemate Kmart, and logistics operator Toll.
Meanwhile, in inner-city Richmond, a building with about 8000 square metres is also on the market. The Church Street property, part of a larger corporate park, has a variety of tenants, including fashion retailer Country Road.
Frasers has appointed the Colliers International and JLL agencies to handle the properties.
Frasers has been busy reworking the diverse portfolio it took over with Australand, including recycling capital as it looks to maintain its development pipeline.
Earlier this year, the group divested its redevelopment of the former stock exchange building in Collins Street in Melbourne, selling it into the Frasers Commercial Trust for $222.5 million.
Similarly, the Singapore-controlled group reaped $224 million when it shifted the Sofitel Wentworth in Sydney into the hospitality trust it manages.
The rebranding of the former Australian empire as Frasers Property Australia was effected only last month, with Rod Fehring as the chief executive.
Mr Fehring has flagged an ambition to broaden the group's market reach, develop supplementary asset classes and align itself with Frasers' Singapore-based property trust platform.
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14-10-2015, 02:58 PM
(This post was last modified: 14-10-2015, 08:01 PM by greengiraffe.)
Same platform, same market, just different professionals and leadership.
If only Temasek linked managed to keep ALZ within its group funds, AREIT need not set a benchmark Down Under recently and they will be able to extract more value as the music keeps playing...
Always Confused
GG
Frasers to develop $65m Sydney distribution warehouse for DB Schenker
NaN of
[img=620x0]http://www.afr.com/content/dam/images/g/k/8/u/c/k/image.related.afrArticleLead.620x350.gk8t9d.png/1444798852894.jpg[/img]Big red: Artist's impression of DB Schenker's new $65m logistics facility at Eastern Creek.
[Image: 1426319989079.png]
by Larry Schlesinger
Global logistics giant DB Schenker has continued its east coast expansion after striking a deal with Frasers Property Australia to develop a new 24,500 square metre distribution facility at the Eastern Creek Business Park in western Sydney.
The new $65 million facility to be built on a 4.8-hectare site and leased by DB Schenker for 10 years is an extension of the group's existing facilities in the 90 hectare business park, taking its total occupancy within the estate to 40,000 square metres.
"DB Schenker has doubled its Australian footprint in the logistics space within the past three years and has plans to continue this aggressive expansion," said MJ Fernandes, general manager for business development at DB Schenker.
Last year, DB Schenker, a subsidiary of German railway company Deutsche Bahn, opened a new 30,000 square metre distribution hub at Goodman Group's Redbank Motorway Estate in Ipswich in south-east Queensland.
It distributes consumer goods around Australia on behalf of some of the country's biggest retailers including Samsung, Dell, Fujitsu, Xerox and Office Works.
Demand for logistics facilities are part of a global trend driven by the need to collect, sort and distribute vast amounts of imported consumer goods amid rising urbanisation and the take-up of online shopping.
AMAZON
Another big logistics player, TNT, is spending $300 million on new sorting and distribution facilities in Sydney, Melbourne and Brisbane while internationally, the world's biggest online retailer, Amazon, has spent billions on massive distribution warehouses in key locations around the world.
Following the deal with DB Schenker, stage four of the business park is now fully leased. Other occupiers include LG Electronics, Kmart, Best and Less and Fisher and Paykel with the value of the business park exceeding $600 million.
Frasers Property Australia's northern region general manager Ian Barter said major corporations and third-party logistics providers have been attracted to the precinct due its close proximity to the M7 and M4 motorways, A-grade institutional product offering and the ability to access western Sydney's large skilled workforce.
Frasers Property Australia, formerly called Australand, is the Australian property business of listed Singapore real estate giant Frasers Centrepoint. It manages a $2.4-billion portfolio of commercial and industrial property.
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(02-10-2015, 06:56 PM)thor666 Wrote: Frasers Property Australia grows retail business New retail business unit to focus on retail opportunities Sydney – 2 October 2015 – Frasers Property Australia, a member of Singapore Exchange mainboard-listed Frasers Centrepoint Limited (“FCL”), is launching a new retail business unit, capitalising on its successes in creating quality retail developments. Frasers Property Australia, which adopted FCL’s international Frasers Property brand in August 2015, has built up a strong track record of delivering high quality neighbourhood retail centres that meet the specific needs of local communities. Frasers Property Australia’s new focus on retail development will leverage both its strong local residential development base, and the retail expertise of FCL. The creation of a separate retail business unit is a new initiative under the leadership of Frasers Property Australia’s new CEO Rod Fehring, who took over the reins in August 2015. Peri Macdonald will head up the retail business unit, reporting directly to Mr Fehring. “We see a significant opportunity to build on our existing expertise to undertake more mixeduse development in which retail and residential are complementary components. Our retail business will seek to capitalise on the synergies between residential and retail that we naturally achieve in the mixed-use sector. Central Park and The Ponds are both excellent examples of retail enhancing and enabling successful communities, and this is clearly one of Frasers Property’s strengths in Australia,” said Mr Fehring. “The Edmondson Park Town Centre in western Sydney, for which we recently won the development rights, will showcase our expertise and enlarge our retail portfolio,” he added. This expansion of Frasers Property Australia’s business segments is in line with FCL’s growth strategies of achieving balanced growth across property segments to increase the proportion of income contribution from recurring sources, as well as leveraging its REIT platforms for capital recycling and as a source of fee revenue. Assets developed in Australia – including retail assets – may be sold into one of the Group’s REITs, releasing capital for re-deployment into new development or investment opportunities. In the nine years since FCL listed its first REIT in 2006, FCL has grown its total assets almost four-fold from S$6.1 billion as at 30 September 2006 to S$23.1 billion 1as at 30 June 2015.
“We are targeting to grow our retail portfolio from $300 million to $1 billion in the next three to five years. This is an ambitious goal to grow and expand in tandem with FCL’s targets for growth and expansion, and as with all targets, are subject to various factors including market conditions. Nevertheless we believe that we are in a good position to achieve our target. Frasers Property Australia is well set up for it, plus our ambition to grow the retail business is empowered by FCL’s retail expertise, global footprint and business model,” said Mr Fehring.
The whole world retail malls are closing like wild fire. How do u think FCL can focus on retail???? Any guesses on their tricks up their sleeve? Big name tenants can also mati man.
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> The whole world retail malls are closing like wild fire. How do u think FCL can focus on retail???? Any guesses on their tricks up their sleeve? Big name tenants can also mati man.
Anyone can hazard a guess?
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(14-10-2015, 10:56 PM)Contrarian Wrote: > The whole world retail malls are closing like wild fire. How do u think FCL can focus on retail???? Any guesses on their tricks up their sleeve? Big name tenants can also mati man.
Anyone can hazard a guess?
u got to live in a big country to better understand the retail industry.
Singapore is also unique in many aspect but certainly lower costs online shopping will add inevitable huge pressures to brick and mortar retail experience in Singapore due to the highly elevated overall operating costs.
hence before anyone make a big picture comments, extensive research and preferably on the ground experience is extremely important.
GG
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> a big country
I got you guru san. Likely the retail complexes will serve the suburbs and price affordable factory outlets, and FCL will sign 10 to 20 year long leases with the solid retailers and then offload to FCT :-)
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(15-10-2015, 11:07 AM)Contrarian Wrote: > a big country
I got you guru san. Likely the retail complexes will serve the suburbs and price affordable factory outlets, and FCL will sign 10 to 20 year long leases with the solid retailers and then offload to FCT :-)
Conceptually right...
Down Under asset mkt is more stable than in Asia where it is more volatile due to scarcity, govt control over land supplies,hot $ flows.
Stability also means that price trends are less volatile with gradual price inflation unless there is a prolonged disruption to demand and supply like NSW that was under almost a decade long of Labour rule and hence when there is a reversion to mean that was fast and furious, the general man on the streets and commentators will conveniently labelled it as a bubble...
I m just being a desktop consultant.
Pls do your own research
Vested
Core
GG
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(14-10-2015, 02:58 PM)greengiraffe Wrote: Same platform, same market, just different professionals and leadership.
If only Temasek linked managed to keep ALZ within its group funds, AREIT need not set a benchmark Down Under recently and they will be able to extract more value as the music keeps playing...
Always Confused
GG
Frasers to develop $65m Sydney distribution warehouse for DB Schenker
NaN of
[img=620x0]http://www.afr.com/content/dam/images/g/k/8/u/c/k/image.related.afrArticleLead.620x350.gk8t9d.png/1444798852894.jpg[/img]Big red: Artist's impression of DB Schenker's new $65m logistics facility at Eastern Creek.
[Image: 1426319989079.png]
by Larry Schlesinger
Global logistics giant DB Schenker has continued its east coast expansion after striking a deal with Frasers Property Australia to develop a new 24,500 square metre distribution facility at the Eastern Creek Business Park in western Sydney.
The new $65 million facility to be built on a 4.8-hectare site and leased by DB Schenker for 10 years is an extension of the group's existing facilities in the 90 hectare business park, taking its total occupancy within the estate to 40,000 square metres.
"DB Schenker has doubled its Australian footprint in the logistics space within the past three years and has plans to continue this aggressive expansion," said MJ Fernandes, general manager for business development at DB Schenker.
Last year, DB Schenker, a subsidiary of German railway company Deutsche Bahn, opened a new 30,000 square metre distribution hub at Goodman Group's Redbank Motorway Estate in Ipswich in south-east Queensland.
It distributes consumer goods around Australia on behalf of some of the country's biggest retailers including Samsung, Dell, Fujitsu, Xerox and Office Works.
Demand for logistics facilities are part of a global trend driven by the need to collect, sort and distribute vast amounts of imported consumer goods amid rising urbanisation and the take-up of online shopping.
AMAZON
Another big logistics player, TNT, is spending $300 million on new sorting and distribution facilities in Sydney, Melbourne and Brisbane while internationally, the world's biggest online retailer, Amazon, has spent billions on massive distribution warehouses in key locations around the world.
Following the deal with DB Schenker, stage four of the business park is now fully leased. Other occupiers include LG Electronics, Kmart, Best and Less and Fisher and Paykel with the value of the business park exceeding $600 million.
Frasers Property Australia's northern region general manager Ian Barter said major corporations and third-party logistics providers have been attracted to the precinct due its close proximity to the M7 and M4 motorways, A-grade institutional product offering and the ability to access western Sydney's large skilled workforce.
Frasers Property Australia, formerly called Australand, is the Australian property business of listed Singapore real estate giant Frasers Centrepoint. It manages a $2.4-billion portfolio of commercial and industrial property.
Official announcement just released:
http://cms3.todayir.com.sg/html/client/fraser/attachment/201510152015211725727859_en.pdf
[url=http://cms3.todayir.com.sg/html/client/fraser/attachment/201510152015211725727859_en.pdf][/url]
Schenker Australia expands in Eastern Creek Business Park
Sydney – 14 October 2015 – Schenker Australia Pty Ltd (DB Schenker) is expanding its footprint within Frasers Property Australia’s (formerly known as Australand) Eastern Creek Business Park. Stage four of this landmark 90 hectare development is now fully leased.
DB Schenker has secured a 4.8 hectare site comprising a 24,250sqm warehouse and 250sqm office over a 10 year period which takes its total occupancy to 40,000sqm within the estate. Total value of the facility expansion is approximately $65 million.
Ian Barter, General Manager Northern Region for Frasers Property Australia comments, “Eastern Creek Business Park is one of Frasers Property’s greatest success stories. The company started developing in the area in 2004 and has built one of the most highly sought after industrial and commercial precincts in Sydney and is in the process of creating over $600 million worth of blue chip assets.”
“Eastern Creek Business Park is the number one location in Sydney from a logistics standpoint. Major corporations and third party logistics providers have been attracted to the precinct due its close proximity to the M7 and M4 motorways, A grade institutional product offering and the ability to access Western Sydney’s large skilled workforce.”
The latest extension with DB Schenker further reinforces the suitability of this prime location for companies with expanding logistics requirements. Frasers Property has developed in excess of 80,000 sq m for DB Schenker across four facilities.
MJ Fernandes, General Manager CL/SCM Business Development for DB Schenker said, “We have a successful partnership with Frasers Property which continues to expand. The new facility in Eastern Creek Business Park will help further consolidate and expand our footprint as a leading diverse logistics business.
“DB Schenker has doubled its Australian footprint in the logistics space within the past three years and has plans to continue this aggressive expansion. In order to do so we need strong partners and have developed a solid alignment with the Frasers Property team. Frasers understands our needs and provides flexible arrangements to accommodate our dynamic business plans.”
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Let private enterprise solve public housing crisis
ROBERT PRADOLIN - Robert Pradolin is general manager, business development, for Frasers Property Australia.
942 words
15 Oct 2015
The Age
AGEE
English
Urgently needed public housing should be treated as vital infrastructure.
We are becoming complacent and desensitised to the subtle erosion of the ties that bind our community. Social dislocation, suicide - particularly youth suicide - family violence and mental illness are all on the increase. But we don't see the commonality. Unmet in so many people affected by these complex social issues is the fundamental human need for a place to call home. There is a body of evidence that suggests people living in substandard housing are vulnerable, that if people are poorly housed, they are much more likely to develop mental illnesses.
It costs taxpayers a significant amount of money to help these people. Research by the Australian Housing and Urban Research Institute suggests every high-risk young person who is diverted from homelessness saves government about $120,000 a year. And yet we ignore the unintended consequences of members of our community not having a place to call home. Our public housing waiting lists are growing, but neither federal nor state governments have the funds to build the additional accommodation that is so badly needed.
Over the past six years I have been involved in the delivery of two social/private housing projects in Melbourne: the redevelopment of the Carlton housing estate and the Westmeadows project.
The Carlton housing estate is nearing completion and Westmeadows has just started. They are a mix of private and public housing but both projects have been achieved via the traditional development model. My employer, Frasers Property Australia (formerly Australand), tendered for the project through a competitive tender process based on what we believed we could sell the private homes and apartments for, and we paid a land value to the state, while also building social housing at an agreed cost for the state government, which it now owns in full.
The more I get involved with this unloved sector of the market, the more I am learning about how important it is to our economic and social wellbeing as a community.
Analysis by economists SGS Economics indicates a cost benefit ratio of 7:1 in respect to the economic benefit to the community of providing public, social and affordable housing in the right locations.
Our concern should be that if we allow this lack of housing to continue, the dislocation of our community is only going to grow and the aforementioned issues will become magnified and take decades to fix (if we can fix them).
The inclusive, multicultural, safe and tolerant society we have loved is unintentionally and unknowingly dying, slowly simmering in the heated temperatures of our growing housing crisis, and it will only become obvious after it's too late.
We can fix it but we need to start now.
We cannot wait for another set of reports or further investigations and feasibility studies.
We need to learn from other countries around the world and see what their governments have done for their cities; learn how we can adapt some of their techniques to the Australian context. The economic benefits generated are significant and the ripple effects are intangible but real. It makes good business sense.
However, we can't rely solely on government money to solve this problem. We need to mobilise private capital by making it economically viable for developers to invest in this type of housing. To do that requires a recognition by government of the market realities that will enable capital to flow naturally into this space.
Given that we are experiencing a housing boom, and with all other things being equal, we should expect to be building public, social and affordable housing that keeps pace with the percentage increase in the private market stock. Except we are not doing that. We have gone backwards in terms of both supply numbers and percentage, and, to make matters worse, prices are continually going up. You don't need to be a rocket scientist to understand that housing stress is increasing.
Further evidence of the growing problem was provided by a recent auditor-general analysis of the Victorian public housing stock (about 65,000 dwellings), which identified that 14 per cent of the stock is nearing obsolescence. At the Community Housing Federation of Victoria Conference this year, Professor Terry Burke from Swinburne University highlighted that 6000 social housing units a year would be needed to just maintain the proportion of social housing in Victoria (3.4 per cent), and more like 9000 to achieve 5 per cent - a proportion that is still significantly below current demand estimates. It's a similar story in most other states.
We need significant supply created in this sector and the only way we will be able to achieve this is to involve the private sector. We need to reframe how we think about public housing and recognise that it is key public infrastructure. And many key public infrastructure projects - think roads, hospitals, schools - are now funded as private-public partnerships, which are subsidised by the taxpayer.
We need to recognise that to have economic prosperity we need a well-functioning metropolis. And for a well-functioning metropolis, it makes good business sense to provide public, social and affordable housing in areas where the community will get the best value and it would cost taxpayers less in the long run.
It is not housing that we should be talking about; it is key public infrastructure. We need to move away from the traditional discussion and look at the problem differently.
Fairfax Media Management Pty Limited
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