Is the Commercial market still dry???

I read a report yesterday stating that the commercial sales drought in the Sydney CBD is showing no signs of recovery

During September, three major properties (1 Castlereagh St, 20 Hunter St and 140 Sussex St) were taken off the market as institutional owners sought to recapitalise their balance sheets.

With the Sydney office leasing market in a recovery phase, owners are taking the opportunity to withdraw buildings from the market. The thinking is they can strengthen the tenancy profile of their properties and potentially re-list them for sale in a stronger investment market.

What do you guys think of the state of the commercial market, especially in sydney right now?
 
a slight tangent - but the number of cranes in the perth sky all building CBD mixed use - apartments, retail and office - is staggering.

however - i worry about when they all finish, there'll be a HUGE glut if there's no market.

i just wonder how many developers of these sites have an exit strategy already in place.
 
The banks have considerably tightened up their credit availability for CIP.
If people can't get loans to buy, then there is no market.
 
a slight tangent - but the number of cranes in the perth sky all building CBD mixed use - apartments, retail and office - is staggering.

however - i worry about when they all finish, there'll be a HUGE glut if there's no market.

i just wonder how many developers of these sites have an exit strategy already in place.
Noway:rolleyes: that would never happen again,willair..
Bond goes belly-up

1989 Bond group goes into receivership
1989 Elders IXL MBO vehicle Harlin Holdings forced to make $5.3bn bid for for all shares
1989 Gough & Gilmour (later a competitor of Stokes WestRac) buy Waugh & Josephson
1989 Eva Presser's Sunraysia Television buys STW-9 from receivers of Bond Media for $95m, sells STV Mildura for $18m to ENT
1989 Heytesbury buys Sherwin Pastoral Co cattle stations for $80m
1990 Holmes a Court dies
1990 Observation City Hotel sold for $77m
1990 Airship Industries goes into receivership
1990 Australian brewing assets sold to Lion-Nathan of New Zealand
1990 Packer regains control of Nine network for around $250m
1990 Elders IXL announces $1.3bn loss, foreshadows sale of all non-brewing businesses, become Foster's Brewing Group
1991 Heilemann goes into Chapter 11
1991 Bond Corporation enters scheme of arrangement
1991 receivers take charge of Bell Group and Bell Resources
1991 Harlin changes name to International Brewing Investments (IBI), with 32% of Foster's
1991 receivers float WA Newspapers as independent company
Aftermath

1991 Heytesbury buys John Holland engineering group
1992 Alan Bond made bankrupt by Federal Court
1992 BHP puts receiver into IBI over debt of more than $1bn
1992 Dallhold interests in Greenvale project floated as QNI
1992 Bond jailed for 30 months after a jury convicts him of dishonesty relating to ASIC investigation of Rothwells. Released after retrial
1993 receivers reconstruct Elders IXL and IBI interests, float Elders Pastoral Group as Elders Australia
1995 Alan Bond pays creditors less than one cent in dollar as bankruptcy settlement
1995 Elders acquires Australian Agricultural Company (AACo)
1995 Elders acquired by Futuris Corporation
1996 Bond jailed by West Australian District Court for three years over Manet painting La Promenade
1997 jailed for further four years after pleading guilty to deceptively siphoning $1.2bn from Bell Resources. During trial Bond claims to be suffering from brain damage, making recollection of the details of his activities impossible
1997 outrage over leniency of sentence provokes federal government appeal - court increases sentence to seven years
1997 Heytesbury sells stud at Wallen for $7.3m
1998 Bond emerges from bankruptcy, having paid creditors $3.25m to discharge personal debts of $500m
1999 Heytesbury sells 70% of John Holland Australia to Leighton
2000 Bond released from prison on parole after High Court rules in his favour on a constitutional technicality
2000 Bond associated with UK company The Money Centre
2002 liquidators appointed to The Money Centre
2003 Heytesbury sells remaining 30% of John Holland Australia
http://ketupa.net/bond2.htm
 
You'd be surprised how many old crusty buggers have got some serious cash stashed away and not afraid to use it.
No Banks - no problems.

I know lol, I think out this way some are still holding out.
And many of those "ole buggers" round have RIP developments going on.
They seem not too fond of those city slickers round here.
And CIP with ~10% yield seems to be getting more common.
Might venture out and see if the bankers are out of hybernation.
 
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