NEARLY 37 hectares of Lindeman Island National Park will be privatised if the recommendations of an Environmental Impact Statement (EIS) released this afternoon are approved. The EIS details plans to privatise Lindeman Island National Park and place it in the hands of Chinese company, Whitehorse Developments, which will create exclusive accommodation for wealthy tourists. The…
Category: Australian Heritage
Melbourne heritage building bought for a record $25 million by mystery Singapore developer
One of Melbourne city centre’s most beautiful – and most troubled – heritage buildings has been bought for a record $25 million by a mystery Singapore developer. It’s the third time the Equity Chambers building has sold in five years, with previous plans to turn it into apartments – with retail and commercial space –…
Whyalla steelmaker Arrium to be sold to British company Liberty House
South Australian steelmaking business Arrium is to be sold to a British company and not the Korean consortium identified as the preferred bidder, the state’s Premier Jay Weatherill has confirmed. The business will be sold to Liberty House which is part of London-based GFG Alliance, with all Whyalla steelworkers expected to keep their jobs. “The…
Chinese billionaire buys Sydney’s Exchange Centre
One of China’s largest toy manufacturers, Chinese – Hong Kong billionaire Francis Choi, has emerged as the likely buyer of the Exchange Centre in Bridge St, Sydney. The near $340 million deal has sent shockwaves through the office market in Australia. The Guangdong Province native is a self-made billionaire who opened his first factory in…
Chinese buy iconic Windsor retail strip plans 110 apartments and 205 car park spaces
AN ICONIC retail strip in the heart of Windsor has been purchased by a Chinese investor for $9.5m with plans to transform the site into 110 apartments with 205 car parking spaces, subject to Council approval. The property, which has three street frontages and fronts onto the mall, currently has 12 leased stores including the…
Super funds call for register of foreign owned farms
Industry superannuation funds have called for tougher foreign investment rules around Australian agriculture as they seek to ramp up their investment in the sector. Industry Super Australia, which represents not-for-profit industry funds, said quality Australian farming assets were being cherry-picked by foreign investors. Chief economist Stephen Anthony has called for a government register of foreign…
Chinese developer pays $36.2m for Morning Star Estate, Mt Eliza on the Mornington Peninsula.
A CHINESE developer has splashed more than $30 million on one of the largest individual land holdings on the Mornington Peninsula. The 63ha Morning Star Estate in Mt Eliza was sold by CBRE for $36.2 million when it changed hands late last week. The agency declined to comment on the sale. The estate featured in…
Elders sells live export business to Chinese & Australian owned entity
THE managers of Elders’ live export business, North Australian Cattle Company, have joined forces with Chinese outfit Zhoushan Fanda Australian Cattle Industrial to purchase the operation. Elders said an Australian & Chinese owned entity, Zhoushan Fanda Australia Cattle Co, or Fanda, and the current managers of NACC will be the new owners of the livestock…
Chinese investment in real estate grows to $32b: FIRB
Chinese investors topped the list of foreign investment approvals for the financial 2016, and have pledged to invest $47.3 billion in Australia, mainly in real estate, the latest Foreign Investment Review Board annual report shows. The figure is similar to the previous year when $46.6 billion in approvals was awarded to Chinese investors. Of China’s…
Aus owned Ansell sells condom division to Chinese consortium for $800 million
After 112-years of Australian ownership Ansell will sell its condom business to a Chinese consortium for $800 million. Ansell says the time is right to exit the fluctuating sexual wellness market and focus on rubber gloves. Ansell’s history dates back to 1905, when Eric Norman Ansell bought a condom machine from his employer, the Dunlop…
Rinehart plans massive export 800,000 live cattle to China a year for slaughter
Australian iron ore billionaire Andrew Forrest has slammed the bold plan of fellow mining magnate and Kidman cattle queen Gina Rinehart to export 800,000 live cattle a year from Australia’s north to China for slaughter. Mr Forrest, who owns five West Australian cattle stations and a herd of 40,000 cattle in his Minderoo Pastoral group,…
Foreign investment jumps 29 per cent to $248 billion last year
Victoria has emerged as the focus for overseas buyers of Australian homes, attracting 44 per cent of residential purchases by foreign investors last financial year. NSW, with 32 per cent of residential home purchases, was the second most popular state for an inflow of foreign property investment, according to the Foreign Investment Review Board’s 2015-16…
